# FD Calculator: Fixed Deposit Interest and Maturity > FD calculator: get the maturity amount or monthly/quarterly payout on a fixed deposit, with senior citizen rates and a TDS check for FY 2026-27. Source: https://trykosh.com/tools/fd-calculator Free tool - Investing # FD calculator Work out the interest and maturity value of a bank fixed deposit. Choose a cumulative FD or a monthly or quarterly payout, and add the senior citizen rate if it applies. Rules checked 25 October 2026Free - no sign-upRuns in your browser Maturity amount INR 6,15,720 INR 1,15,720 interest over 3 years at 7% Total interest**INR 1,15,720** Effective annual yield**7.19%** TDS in the first year**INR 0** Deposit **INR 5,00,000**Interest **INR 1,15,720** Year by year (cumulative) Year Interest that year Balance Year 1 INR 35,930 INR 5,35,930 Year 2 INR 38,511 INR 5,74,441 Year 3 INR 41,279 INR 6,15,720 Interest is compounded quarterly. It's taxed at your slab rate every year, even in a cumulative FD. ## Upload your statement and Kosh does this for you. Upload your statements and Kosh tracks every SIP, FD and deposit in one place, and shows how far you are from each goal. [Start free](/signup?via=tool-fd-calculator) ## How the FD calculator works Enter the deposit, your bank's interest rate for the tenure and the tenure in years and months. If you're 60 or older, turn on the senior option and enter the extra rate your bank offers; most add between 0.25% and 0.75%. For a cumulative FD, interest is compounded every quarter and paid with the principal at maturity, which is how Indian banks calculate it. If the tenure isn't a whole number of quarters, the leftover months earn simple interest on the compounded balance. For a quarterly payout, you get the quarterly interest (principal x rate / 4) in your account every quarter. For a monthly payout, banks pay the quarterly rate discounted to a month, so you receive slightly less than the rate / 12. In both payout options your principal comes back unchanged at maturity. The calculator also checks TDS. Banks deduct 10% TDS once your total interest from that bank crosses INR 50,000 in a financial year, or INR 1 lakh for senior citizens. TDS is only an advance on your tax: FD interest is taxable at your slab rate in full. Maturity = P x (1 + r / 400)^(quarters) P deposit r yearly interest rate, in percent quarters tenure in months / 3 ## Worked example: Mr Sharma's quarterly income Mr Sharma, 66, in Indore, puts INR 10 lakh in a 2-year FD at the bank's card rate of 7.1% plus 0.5% for seniors. With quarterly payout he gets INR 19,000 every quarter, INR 1.52 lakh over the two years, and his INR 10 lakh back at the end. His yearly interest of INR 76,000 stays below the INR 1 lakh senior threshold, so the bank won't deduct TDS. Quarterly interest INR 19,000 INR 1,52,000 in total over 2 years; INR 10,00,000 back at maturity DICGC insurance covers up to INR 5 lakh per depositor per bank, interest included. Total interest**INR 1,52,000** Effective annual yield**7.6%** TDS in the first year**INR 0** Deposit **INR 10,00,000**Interest **INR 1,52,000** Interest is compounded quarterly. It's taxed at your slab rate every year, even in a cumulative FD. [Load this example into the calculator ->](?amount=1000000&rate=7.1&years=2&payout=quarterly&senior=1#calculator) ## Good to know - If your total income is below the taxable limit, give the bank the no-TDS self-declaration (long known as Form 15G, or 15H for seniors) at the start of each financial year. - Breaking an FD early usually costs a penalty of 0.5% to 1% on the rate applicable for the period it actually ran. Check before choosing a long tenure. - DICGC insures deposits up to INR 5 lakh per depositor per bank, interest included. Large amounts can be spread across banks. - A 5-year tax-saver FD qualifies for 80C in the old regime but can't be broken early, and its interest is still taxable. - Rates differ widely between banks and change often. Small finance banks often pay more; check the rate card on the day you invest. ## Frequently asked questions How is FD interest calculated? Most banks compound FD interest quarterly. The maturity amount is the deposit x (1 + rate / 400) raised to the number of quarters. For INR 1 lakh at 7% for one year, that's about INR 7,186 of interest, an effective yield of 7.19%. Is TDS deducted on FD interest? Yes, at 10% if your interest from one bank exceeds INR 50,000 in a financial year (INR 1 lakh for senior citizens). Without a PAN, it's 20%. TDS counts towards your final tax and can be claimed back if your total tax is lower. How much extra interest do senior citizens get on FDs? Most banks add between 0.25% and 0.75% to their card rates for depositors aged 60 and above, and some add more on special tenures. Senior citizens also get a higher TDS threshold of INR 1 lakh. Should I choose cumulative or payout FD? Cumulative grows more because interest compounds. A monthly or quarterly payout suits people who need regular income, such as retirees. Interest is taxable every year in both. Is FD interest taxable even if I don't withdraw it? Yes. Interest on a cumulative FD accrues every year and is taxable in that year, even though you receive it only at maturity. Declaring it yearly avoids a bunched-up tax bill later. ## Sources and assumptions - [Reserve Bank of India](https://www.rbi.org.in/) - [Income Tax Department](https://www.incometax.gov.in/) Rules and rates last checked on 25 October 2026. Results are estimates for planning and education, not tax, legal or investment advice. Kosh is an educational financial planning tool by Primedepth Labs. It is not a SEBI-registered investment adviser and does not offer personalised investment advice, hold your money or execute trades. Markets carry risk; read scheme documents carefully and consult a registered adviser before acting.