General Fixed Deposit Calculator
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Manual FD Calculator
About Fixed Deposits (FD)
A fixed deposit (FD) is a secure investment offered by banks and NBFCs. These deposits typically offer a higher interest rate than savings accounts, subject to certain terms. The amount you deposit is locked for a predetermined period, which can vary from 7 days to 10 years.
TDS on Fixed Deposits (Updated for 2025-26)
Under Section 194A of the Income Tax Act, banks must deduct TDS (Tax Deducted at Source) if your interest income exceeds certain limits. These limits were increased in the FY 2025-26 Budget:
- General Citizens (below 60 years): TDS is deducted if interest exceeds ₹50,000 per year (previously ₹40,000).
- Senior Citizens (60 years & above): TDS is deducted only if interest exceeds ₹1,00,000 per year (previously ₹50,000).
- TDS Rate: The standard rate is 10%. If PAN is not provided, the rate is 20%.
- Form 15G/15H: You can submit these forms to the bank to avoid TDS if your total income is below the taxable limit.
The Formula to Determine FD Maturity Amount
IndiaCalc supports both major types of Fixed Deposit calculations:
1. Cumulative FD (Compound Interest)
Used when you choose the "On Maturity" payout option. The interest is reinvested.
2. Non-Cumulative FD (Simple Interest)
Used for Monthly or Quarterly payouts. The interest is paid out to your account.
Where:
- P = Principal Amount
- r = Rate of Interest per annum
- t = Tenure in years
- n = Compounding frequency (usually 4 for quarterly)
Advantages of using this Calculator
- Know the exact amount you will receive at maturity.
- Plan your tax liabilities (TDS) based on the new 2025 limits.
- Free to use: No registration required. Unlimited calculations.
- Supports complex inputs like "1 Year and 5 Months".