Banking & Savings
Fixed Deposit Maturity Calculator
Calculate term deposit maturity proceeds, quarterly compound interest, regular non-cumulative monthly payouts, senior citizen preferential rates, and Section 194A TDS.
Popular Bank FD Tenures & Schemes
Select a preconfigured term deposit scheme or enter custom deposit parameters below:
Deposit Parameters
Min ₹1,000. Up to ₹100 Crore. Standard Indian bank deposit denominations.
Base interest rate offered by the bank for the selected tenure.
Depositor Age Category
Taxation & Section 194A TDS
Optional: Calculates your real effective post-tax return.
Amortization & Interest Accrual Schedule
Year-by-year compounding progression and cumulative earnings breakdown:
| Period | Opening Balance | Interest Accrued | Cumulative Interest | Closing Balance |
|---|---|---|---|---|
| Year 1 | ₹1,00,000.00 | +₹7,291.28 | ₹7,291.28 | ₹1,07,291.28 |
How Indian Bank Fixed Deposits Are Calculated
- Under RBI guidelines, term deposits for 180 days or longer earn compound interest calculated on a quarterly basis.
- Deposits below 180 days are calculated using simple interest based on the exact number of calendar days divided by 365.
- Cumulative FDs reinvest interest every quarter, producing an Annualized Effective Yield (AER) higher than the nominal coupon rate.
- Non-cumulative monthly payouts are discounted using the banking formula P × [(1 + r/400)^(1/3) - 1] so total annual interest matches quarterly compounding.
- Senior citizens (60+) receive an additional +0.50% p.a., and super seniors (80+) receive up to +0.75% across top public and private sector banks.
- Banks deduct 10% TDS under Section 194A when total interest across all branches exceeds ₹40,000 (₹50,000 for seniors). Form 15G/15H can be submitted if total taxable income is zero.
Frequently asked questions
How does quarterly compounding increase my FD returns?
Quarterly compounding means the interest earned during the first 3 months is added to your principal balance. During the second quarter, you earn interest on both your initial deposit and the previous quarter's interest. This compounding effect repeats every 90 days, delivering an effective annual yield higher than the nominal rate.
What is the difference between Cumulative and Non-Cumulative FDs?
In a Cumulative FD (reinvestment plan), interest is reinvested quarterly and paid in full along with the principal upon maturity, maximizing wealth accumulation. In a Non-Cumulative FD, the principal remains locked while interest is paid out periodically (monthly, quarterly, or half-yearly) to provide steady regular income.
When is TDS deducted on Fixed Deposit interest?
Under Section 194A of the Income Tax Act, banks deduct 10% Tax Deducted at Source (TDS) if total annual interest across all accounts in the same bank exceeds ₹40,000 for general depositors or ₹50,000 for senior citizens. If you do not furnish a valid PAN, TDS is deducted at 20%.
Can I avoid TDS on my fixed deposit interest?
If your total annual income is below the basic tax exemption limit, you can submit Form 15G (for general citizens under 60) or Form 15H (for senior citizens aged 60 and above) at the beginning of each financial year to prevent TDS deduction by your bank.