Calculate Fixed Deposit maturity amount and interest
๐ฎ๐ณ Indian Rupee (โน)
Principal Amount
โน
Interest Rate 7%
% p.a.
Time Period 3 Yrs
Years
Compounding Frequency
Maturity Amount
-
-
Principal
-
Interest Earned
What is Fixed Deposit (FD)?
A Fixed Deposit is a financial instrument where you deposit a lump sum for a fixed period at a predetermined interest rate. FDs are one of the safest investment options in India.
FD Formula
A = P ร (1 + r/n)^(nรt) Where: P = Principal, r = Annual rate, n = Compounding frequency, t = Time in years
Is FD interest taxable?
Yes, FD interest is taxable as per your income tax slab. Banks deduct TDS at 10% if interest exceeds โน40,000 per year (โน50,000 for senior citizens).
Can I break FD before maturity?
Yes, most banks allow premature withdrawal with a penalty of 0.5% to 1% on the interest rate.