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Fixed Deposit Investments
Fixed Deposits are one of the most traditional and safest investment options in India. They offer guaranteed returns and capital protection, making them ideal for conservative investors.
Benefits of FDs
- Guaranteed Returns: Unlike market-linked instruments, FDs offer fixed returns.
- Liquidity: Most FDs can be broken prematurely in case of emergencies (with a small penalty).
- Safety: FDs in scheduled banks are insured up to INR 5 Lakhs.
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Common questions about Fixed Deposits
A Fixed Deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date.
FD interest is usually compounded quarterly. The formula used is A = P(1 + r/n)^(nt), where P is the principal, r is the rate of interest, n is the compounding frequency per year, and t is the tenure.
Yes, Bank FDs are considered very safe. In India, deposits in scheduled banks are insured up to INR 5 Lakhs by DICGC.
Yes, premature withdrawal is allowed, but banks usually charge a penalty (around 0.5% to 1%) on the interest rate for the period the deposit was with the bank.
Yes, the interest earned on Fixed Deposits is fully taxable as per your income tax slab. Banks also deduct TDS if the interest exceeds INR 40,000 (or INR 50,000 for senior citizens) in a financial year.