FD Calculator
Compound frequency matters
₹1,00,000
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Maturity value
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Interest earned
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Principal
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Effective annual yield
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Years to double (72 rule)
Current bank floor: 6.5–7.5%
SBI/HDFC/ICICI public FDs currently run 6.5–7.5% for 1–5 yr terms (seniors +0.5%). Small-finance banks pay 8–9% but check DICGC's ₹5 L deposit insurance limit per bank.
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FD formula
Maturity = Principal × (1 + r/n)n×t where r = annual rate, n = compounds per year, t = years. Quarterly compounding (n=4) is the standard at most Indian banks — the RBI mandates quarterly compounding for FDs under 1 year.
- ₹1L at 7% quarterly for 5 yrs → ₹1,41,478 (₹41,478 interest)
- Same principal at monthly compounding → ₹1,41,762 (₹284 more)
- TDS: banks deduct 10% TDS on interest above ₹40,000/yr (₹50,000 for seniors) — file ITR to claim refund if you're in a lower slab.
Ladder strategy: split ₹5L across 5 annual FDs of ₹1L each. Every year one matures — you get liquidity AND catch any rate rises.