FD Calculator – All Indian Banks
Calculate Monthly & Yearly Fixed Deposit Returns 🇮🇳
FD Calculation Results
Enter your FD details to see calculations
Current FD Interest Rates – Major Indian Banks
| Bank Name | 1 Year Rate | 2-3 Years Rate | 5 Years Rate |
|---|---|---|---|
| State Bank of India (SBI) | 6.50% | 6.50% | 6.50% |
| HDFC Bank | 6.75% | 7.00% | 6.75% |
| ICICI Bank | 6.80% | 7.00% | 6.80% |
| Axis Bank | 7.00% | 7.25% | 7.00% |
| Yes Bank | 7.25% | 7.50% | 7.25% |
| Kotak Mahindra Bank | 6.90% | 7.10% | 6.90% |
*Rates are indicative and may vary. Please check with respective banks for current rates.
Frequently Asked Questions 🇮🇳
Q1: How is FD interest calculated in India?
FD interest is calculated using compound interest formula: A = P(1 + r/n)^(nt), where P is principal, r is annual interest rate, n is compounding frequency, and t is time in years.
Q2: Which is better – monthly or yearly interest payout?
Monthly payout provides regular income but lower overall returns due to less compounding. Yearly or maturity payout gives higher returns due to compound interest effect.
Q3: Are FD returns taxable in India?
Yes, FD interest is taxable as per your income tax slab. TDS is deducted if interest exceeds ₹40,000 per year (₹50,000 for senior citizens).
Q4: What is the minimum and maximum FD amount?
Minimum FD amount is typically ₹1,000 for most banks. There’s no maximum limit, but higher amounts may get better rates through negotiation.
Q5: Can I break my FD before maturity?
Yes, premature withdrawal is allowed but banks charge penalty (usually 0.5-1% reduction in interest rate) and you lose some interest earnings.
Q6: Which bank offers the highest FD rates?
Small finance banks and some private banks typically offer higher rates (7-8%) compared to PSU banks (6-6.5%). However, consider bank stability and deposit insurance.