Free FD Calculator – Fixed Deposit Maturity & Interest
Calculate your fixed deposit maturity value, total interest earned, and year-wise growth. Supports cumulative and non-cumulative FDs. No sign-up. No ads.
Major banks: 6.5–7.5% · Small finance banks: 8–9% · Senior citizens get 0.25–0.5% extra.
FD Growth Schedule
| Year | Opening Balance (₹) | Interest Earned (₹) | Closing Balance (₹) |
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About TrufinOps FD Calculator
The TrufinOps FD Calculator is a free, private tool that helps Indian investors calculate the exact maturity value and total interest earned on fixed deposits. It supports both cumulative and non-cumulative FDs with quarterly, monthly, half-yearly, and annual compounding. All calculations run locally — no data is collected.
What Is a Fixed Deposit?
A Fixed Deposit (FD) is one of India's most popular savings instruments. You deposit a lump sum with a bank or NBFC for a fixed period at a guaranteed interest rate. Unlike mutual funds, FD returns are not market-linked — making them ideal for risk-averse investors and emergency funds.
FD Maturity Calculation Formula
Cumulative FD: A = P × (1 + r/n)n×t
- P = Principal amount
- r = Annual interest rate (as decimal)
- n = Compounding frequency per year (4 for quarterly)
- t = Tenure in years
- A = Maturity amount (principal + compounded interest)
Non-Cumulative FD: Interest = P × r × t (simple interest, paid periodically)
Cumulative vs Non-Cumulative FD
In a cumulative FD, the interest compounds over the tenure and is paid at maturity along with the principal. This is ideal for wealth creation since you benefit from the power of compounding. In a non-cumulative FD, interest is paid out at regular intervals (monthly or quarterly), making it suitable for retirees or people needing regular income.
Best FD Interest Rates in India 2026
FD rates vary across banks. Here are general ranges as of 2026:
- SBI / Bank of Baroda / PNB: 6.5–7.25% p.a.
- HDFC / ICICI / Axis: 7.0–7.5% p.a.
- Small Finance Banks (AU, Suryoday, etc.): 8.0–9.0% p.a.
- Post Office Time Deposit: 6.9–7.5% p.a.
- Senior Citizen Benefit: +0.25% to +0.50% over regular rates
Always verify current rates directly with the bank. Rates change frequently based on RBI policy.
Tax on FD Interest in India
FD interest is fully taxable under "Income from Other Sources" at your applicable slab rate. Banks deduct TDS at 10% if annual interest exceeds ₹40,000 (₹50,000 for senior citizens). If your total income is below the basic exemption limit, submit Form 15G (general) or Form 15H (senior citizens) to avoid TDS deduction.
FD vs SIP: Which Is Better?
FD offers guaranteed, tax-efficient returns with zero market risk — ideal for capital preservation and short-term goals (1–5 years). SIP in equity mutual funds offers potentially higher returns (10–14% CAGR) over long periods (7+ years) but carries market risk. Most financial planners recommend a mix: FD for emergency fund and short-term goals, SIP for long-term wealth creation.
Frequently Asked Questions
Can I withdraw an FD before maturity?
Yes, but most banks charge a premature withdrawal penalty of 0.5–1% reduction on the applicable interest rate. Some tax-saving FDs (5-year lock-in) cannot be broken prematurely.
Is FD safe in India?
Bank FDs are insured by DICGC (Deposit Insurance and Credit Guarantee Corporation) up to ₹5 lakh per depositor per bank. For amounts above ₹5 lakh, consider spreading across multiple banks.
What is a tax-saving FD?
Tax-saving FDs with a 5-year lock-in period qualify for deduction up to ₹1.5 lakh under Section 80C (old tax regime only). The interest, however, remains fully taxable. Premature withdrawal is not allowed.
Disclaimer
FD maturity values shown are indicative and based on the inputs provided. Actual returns may vary depending on the bank's compounding policy, premature withdrawal penalties, and TDS deductions. This calculator is for informational purposes only and does not constitute financial advice. Please verify rates with your bank before investing.