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Fixed Deposit Calculator
Calculate your Fixed Deposit returns
Did you know? Tax-saving FDs have a 5-year lock-in but offer Section 80C deduction.
About Fixed Deposit Calculator
A Fixed Deposit (FD) is a secure financial instrument offered by banks and NBFCs where you deposit a lump sum for a fixed period at a pre-determined interest rate. It offers higher returns than savings accounts with virtually zero risk.
How it works?
A = P (1 + r/n) ^ (n * t)- A = Maturity Amount
- P = Principal Deposit
- r = Rate of Interest (decimal)
- n = Frequency of compounding
- t = Tenure in years
Key Benefits
Guaranteed Returns: Interest rates are locked in at the time of booking, protecting you from rate cuts.
Safety: Bank FDs are insured up to 5 Lakhs by DICGC.
Liquidity: You can take a loan against your FD or break it prematurely (with a small penalty) in emergencies.
Frequently Asked Questions
Is FD interest taxable?
Yes, interest earned on specific levels varies by age, but generally, it is added to your income and taxed as per your slab.
What is the penalty for breaking an FD?
Banks typically charge 0.5% to 1% penalty on the interest rate for premature withdrawals.
Is FD interest 100% safe?
Up to 5 Lakh (principal + interest) is insured by DICGC per bank per user. Amounts above that carry a theoretical default risk, though Indian banks are generally very safe.