💰 FD Calculator

An FD (Fixed Deposit) Calculator is an online tool that helps you calculate the maturity amount and interest earned on your fixed deposit investment. By entering the principal amount, interest rate, and tenure, you can instantly see your potential returns.

The FD Calculator uses compound interest or simple interest formulas based on your deposit type. For cumulative FDs, it uses the compound interest formula: A = P(1 + r/n)^(nt), where A is the maturity amount, P is the principal, r is the annual interest rate, n is the compounding frequency, and t is the time period.

You need to provide: Principal amount (minimum ₹10,000), Annual interest rate, Tenure (7 days to 10 years), Customer type (Regular or Senior Citizen), and FD type (Cumulative or Interest Payout).

Cumulative FDs compound the interest and pay the total amount at maturity, while non-cumulative FDs pay interest at regular intervals (monthly, quarterly, or annually) and return the principal at maturity.

The calculator provides highly accurate estimates based on the standard banking formulas. However, actual returns may vary slightly due to bank-specific policies, rounding methods, and tax implications.

Yes, most banks offer an additional 0.25% to 0.75% interest rate for senior citizens (aged 60 and above) on their fixed deposits.

The minimum FD amount is typically ₹10,000 for resident customers and ₹25,000 for NRI customers. There's usually no maximum limit, though some banks may have special rates for large deposits.

TDS (Tax Deducted at Source) is applicable if the interest earned exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). The current TDS rate is 10% of the interest amount.