Fixed Deposit Calculator

Yes. Higher compounding frequencies compound interest more often, yielding a slightly higher effective annual rate for the same nominal annual interest rate.

In a Cumulative FD, interest is retained, compounded, and paid out along with the principal at maturity. In a Non-Cumulative FD, interest is paid out periodically (e.g. monthly or quarterly) as income.

A periodic payout pays interest regularly across chosen intervals. The estimated periodic interest is calculated as Principal × (Annual Rate / Payout Frequency), while principal is returned at maturity.

Yes. You can specify tenure in years and additional months. The calculator converts total tenure to exact annualized periods for compound interest calculations.

Goal Planner reverses the compound interest formula to calculate the exact lump sum deposit you need to invest today to achieve a desired target maturity amount over your chosen tenure.

Inflation reduces the purchasing power of your future maturity proceeds over time. The calculator provides an optional inflation adjuster using realValue = nominalValue / (1 + inflation)^t to show what your maturity corpus is worth in today's money.

Yes. Interest earned on Fixed Deposits is classified as "Income from Other Sources" and is fully taxable according to your applicable income tax slab rate.

Banks deduct Tax Deducted at Source (TDS) under Section 194A when total annual FD interest across all branches exceeds the statutory threshold. Submitting Form 15G or 15H may prevent TDS if your total income is below the taxable limit.

Most bank FDs permit premature withdrawal subject to bank-specific terms. However, tax-saving 5-year FDs have a statutory lock-in period and cannot be broken prematurely.

Yes. Banks typically apply the interest rate applicable for the actual period the deposit was held rather than the contracted rate, and may also apply a premature withdrawal penalty.

Many banks offer preferential interest rates (typically 0.25% to 0.75% higher) for senior citizens (aged 60 and above). You can enter your bank's exact senior citizen rate directly in the calculator.

Eligible bank deposits in registered commercial and cooperative banks in India are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5 Lakh per depositor per bank, encompassing both principal and interest combined.

This calculator estimates maturity based on standard mathematical compounding conventions. Actual bank maturity values may differ slightly due to exact leap year conventions, booking dates, and institution-specific terms.

Yes. You can export a comprehensive PDF report with your parameter summary, formula methodology, and year-by-year schedule, or download RFC 4180-compliant CSV data for spreadsheets.

Yes. EasyToolio provides a dedicated FD comparison tool (/compare/fd) to compare two different interest rates, deposit amounts, and compounding frequencies side by side.

In a Fixed Deposit (FD), you invest a single lump sum upfront at the beginning. In a Recurring Deposit (RD), you deposit a fixed monthly installment over the tenure.

Yes. The Senior Citizen Savings Scheme (SCSS) pays interest quarterly at a fixed rate, so it fits the same principal-rate-tenure-payout mathematics this calculator already uses. Use the "Senior Citizen Savings Scheme" preset for an illustrative current rate and standard 5-year tenure with quarterly payout, then edit the rate and amount to match your actual SCSS account. This calculator is a mathematical estimator only — it does not check SCSS age eligibility or investment limits, so confirm current official rates and rules with your post office or bank before investing.

Yes. The National Savings Certificate (NSC) compounds interest annually and pays out the full amount at maturity, which this calculator can model using Cumulative payout mode with Yearly compounding. The "National Savings Certificate (NSC)" preset fills in an illustrative current rate and standard 5-year tenure. Rates are set by the government and revised quarterly and are editable here — verify the official current rate before relying on any result.

Yes. Kisan Vikas Patra (KVP) is a fixed-rate scheme compounded yearly, marketed by its maturity/doubling period rather than its annual rate. The "Kisan Vikas Patra (KVP)" preset sets an illustrative current rate with the standard maturity period in years and months, using Cumulative payout mode with Yearly compounding. The exact doubling period and rate are set by the government and revised quarterly, so verify the current official figures before relying on this estimate.

SCSS, NSC and KVP are all fixed-rate savings instruments that use the same principal, rate, tenure, compounding and payout inputs this FD calculator already supports — a separate calculator would duplicate the same underlying math under a different name. Instead, we added scheme presets and guidance directly to this calculator so it can estimate any of these schemes accurately in one place.

The Government of India reviews and announces interest rates for small savings schemes, including SCSS, NSC and KVP, every calendar quarter. A rate that applies to a deposit made in one quarter does not necessarily apply to a new deposit made in a later quarter, so always confirm the rate in effect on your actual investment date from an official source rather than relying on any preset value long-term.

No. This calculator only performs the interest and maturity math based on the amount, rate, tenure and payout type you provide — it does not verify age eligibility, investment limits, extension rules or any other SCSS scheme conditions. Confirm your eligibility and the current scheme rules directly with an authorized post office or bank branch before opening an account.