FD Calculator

FD maturity amount = P × (1 + r/n)^(n×t). For ₹1 lakh at 7% for 3 years (quarterly compounding): 1,00,000 × (1 + 0.07/4)^12 = ₹1,23,144. Interest earned = ₹23,144 (vs ₹21,000 with simple interest).

TDS at 10% is deducted when FD interest in a financial year exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G (under 60) or 15H (senior citizen) to avoid TDS if your total income is below taxable limit.

Yes. FD interest is fully taxable as "Income from Other Sources" at your applicable income tax slab rate. It is NOT eligible for 80C deduction (except 5-year tax-saving FDs). Even if TDS is not deducted, you must declare interest in ITR.

DICGC (Deposit Insurance and Credit Guarantee Corporation) insures bank deposits — including FDs — up to ₹5 lakh per depositor per bank. This limit applies to the sum of all deposits (principal + interest) across all your accounts in one bank. For amounts above ₹5 lakh, consider spreading across multiple banks.

PPF offers 7.1% tax-free returns (EEE category — no tax on investment, returns, or maturity), 15-year lock-in, and 80C deduction up to ₹1.5 lakh. FD offers flexibility — tenures from 7 days to 10 years, but interest is fully taxable. For long-term tax-free investing, PPF wins. For liquidity and short-term, FD wins.