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Fixed Deposit (FD) Calculator
Calculate the maturity amount and total interest you will earn on your Fixed Deposit investment. A simple tool to forecast your returns from a safe investment option.
About This Tool
A Fixed Deposit (FD) is a secure investment instrument offered by banks and NBFCs where you can deposit money for a fixed period and earn a predetermined rate of interest. This calculator helps you determine the final amount you will receive at the end of your investment tenure.
How to Use This Tool
- Enter the principal amount you plan to invest.
- Enter the annual interest rate offered by the bank.
- Specify the investment tenure in years.
- Click "Calculate Maturity" to see the interest earned and the total maturity value.
Frequently Asked Questions
Is the interest earned on an FD taxable?+
Yes, the interest income from a Fixed Deposit is fully taxable. It is added to your total income and taxed as per your applicable income tax slab. Banks are also required to deduct TDS (Tax Deducted at Source) if the interest income exceeds a certain threshold in a financial year.
What happens if I break an FD before maturity?+
If you withdraw your FD before the maturity date, the bank will typically charge a penalty. This penalty is usually a reduction in the interest rate, meaning you will earn less interest than originally agreed upon. The exact penalty varies from bank to bank.
Can I get a loan against my Fixed Deposit?+
Yes, most banks offer a loan against your FD. You can typically get a loan of up to 90% of your FD amount. The interest rate on such loans is usually 1-2% higher than the interest rate you are earning on your FD, making it a relatively cheap and quick way to get funds.