How the FD Calculator works
Most Indian banks compound FD interest every quarter: A = P × (1 + r/4)^(4t). With the payout option the interest is paid out and not compounded, so the calculator uses simple interest.
Questions people ask
Is FD interest taxable?
Yes. FD interest is added to your income and taxed at your slab rate. Banks deduct TDS above the yearly limit unless you submit Form 15G/15H where eligible.
Are FDs safe?
Deposits in each bank are insured by DICGC up to ₹5 lakh per depositor (principal plus interest).
Results are estimates for planning only, not advice or a promise of returns.