Fixed Deposit Calculator

Calculate the maturity amount and interest earned for any Fixed Deposit.

FD Calculator

A Fixed Deposit calculator is designed to assist you in determining the interest rate you'll earn by placing your money in a Fixed Deposit for a set period. Just input the required details and effortlessly compute the interest on your FD. Online FD calculator is used to determine the maturity amount by applying compound interest on a monthly, quarterly, half-yearly or annual basis.

Type of Customer

Normal Senior Citizen

Type of Fixed Deposit

Date of Fixed Deposit

Amount Deposit (

) Amount Deposit in between 5K to 1.99Cr

5K 1.99Cr

Tenure

YY/MM/DD Days Only

YY

MM

DD

FD Maturity Details

Maturity Value

Rate of Interest*

(Indicative interest rates for calculation only. Click hereFor latest interest rates for latest rates.)

Maturity Date

Aggregate
Interest Amount

Open FD

Remember that Tax Deducted at Source (TDS) will apply to the interest accumulated, following the current tax rates.
The interest rates automatically appear for Resident Deposits below ₹2 Crores.

Please note that the interest rates shown are solely for calculation purposes.click here

Amount and Interest

Disclaimer

Axis Bank does not guarantee accuracy, completeness or correct sequence of any the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness / accuracy. The use of any information set out is entirely at the User's own risk. User should exercise due care and caution (including if necessary, obtaining of advise of tax/ legal/ accounting/ financial/ other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained / data generated herein. Axis Bank does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against Axis Bank. Neither Axis Bank nor any of its agents or licensors or group companies shall be liable to user/ any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation for loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained / data generated herein.

Frequently Asked Questions

What is Fixed Deposit?
Fixed Deposit: Known for its safety and relatively high interest rates compared to regular savings accounts, a Fixed Deposit (FD) is a favored investment in India. Interest rates are fixed for the term of the deposit and vary between banks. You can calculate the interest as Cumulative, Quarterly, Monthly, or Standard.
Benefits of FD
- Comparatively safe investment
- Stable and predicted returns (example 8% per annum)
- Well suitable for conservative investors like senior citizens
Limitations of FD
- Low liquidity
- Low returns because effective returns are lower considering taxes and inflation
- Not suitable for long term wealth creation or the investors with high risk appetite like young investors in their 20s or 30s
What is the interest rate on a bank FD for Senior citizens?
Senior Citizen Rates: Senior citizens typically receive an interest rate that is about 50 to 60 basis points higher than the standard rate, depending on the chosen tenure.
How is the interest on a bank FD calculated?
Interest Calculation for Short Tenures: For FDs with a tenure shorter than 6 months, interest is calculated using simple interest based on the number of days. Compounded Interest for Longer Tenures: For FDs with a tenure of 6 months or more, interest is compounded quarterly. This means interest earned during the previous quarter is added to the principal for subsequent interest calculations.
For monthly interest payout option, the interest paid will be calculated at a discounted rate over the standard rate. In case you chose a quarterly payout option then interest is calculated and paid quarterly.
What is the minimum amount required to start a bank FD?
Minimum Tenure: The shortest possible tenure for an FD is as low as 7 days. Minimum Investment Amount: The minimum amount required to open an FD via Mobile app or Internet Banking is ₹5,000. For those opening an FD at a bank branch, the minimum investment is ₹10,000.
How much can be the minimum tenure of your bank fixed deposit?
Tax-Saver FD: Investments in tax-saver FDs qualify for a deduction up to ₹1.5 lakh under Section 80C of the Income Tax Act, 1961. These FDs come with a mandatory lock-in period of 5 years.
What is the difference between Tax-saver Bank FD & Regular FD?
Compounded Interest for Longer Tenures: For FDs with a tenure of 6 months or more, interest is compounded quarterly. This means interest earned during the previous quarter is added to the principal for subsequent interest calculations.
You can book a 5-year tax saver FD with a minimum amount of Rs 100 and in multiples thereof but to subject to a maximum of Rs 1.5 lakh.
On the other hand, a regular bank FD is not subject to a lock-in period and does not qualify for a deduction under Section 80C of the Income-Tax Act, 1961. The minimum investment amount in case of a regular bank FD is Rs 5,000.
Is the interest earned on a bank FDs taxed and how?
Yes, the interest earned on bank fixed deposit is taxable under the Income Tax Act, 1961.
The tax is deducted at source by the bank as per the prevailing rules. The rate for TDS (Tax Deduction at Source) is 10%, if PAN is furnished; and if not, TDS is 20%. No surcharge or cess is levied over and above this basic rate.
TDS, with respect to interest earned on your bank FD, is deducted based on the total interest projected on the aggregate of your bank FD for the financial year.
If the total projected interest in a financial year crosses the threshold limit, which is currently Rs 10,000 for non-senior citizens, TDS is deducted proportionately from the existing fixed deposits at the time of interest application. For senior citizens (60 years and above), the union budget 2018 has increased the exemption of interest income on deposits with banks (includes fixed deposits) and post offices from Rs 10,000 to Rs 50,000.
Which are the forms to submit to avoid Tax Deduction at Source?
In case, you have no other income apart from interest income, in order to avoid TDS, you can submit a declaration under Section 197A of the Income Tax Act in Form 15-G (for general or non-senior citizens) or Form 15-H (for senior citizens), as applicable.
Furthermore, in order to avoid TDS, split your bank FDs across branches of the Bank. Splitting bank FDs will also enable you to address your liquidity needs.
Is there a penalty if the bank FD is prematurely withdrawn?
Early Withdrawal: FDs can generally be withdrawn before maturity, although this incurs a penalty of 1.0%. Restrictions on Early Withdrawal: Premature withdrawals are not permitted for 5-year Tax Saver Fixed Deposits.
What are the available options to auto-rollover/reinvest the bank FD proceeds?
When you bank FD matures, there are two options of rollover/renewing the FD.
- Under the principal roll-over option, the original principal is rolled over and interest is directly paid (credited) into the bank account.
- Under principal and Interest rolling option, the original amount along with the accrued interest is reinvested for the same tenure and the rate of interest applicable on the maturity.