Cumulative FD: Interest is compounded quarterly and paid at maturity. Maturity = P × (1 + r/4)^(4×n).
Quarterly Payout: Interest is paid every quarter. No compounding.
Monthly Payout: Interest is paid monthly at a slightly lower effective rate.
What is the TDS on FD interest?
TDS at 10% if total interest income exceeds ₹40,000 per year (₹50,000 for senior citizens). If PAN is not provided, TDS is 20%. You can submit Form 15G/15H if total income is below taxable limit.
What are current FD rates in India (2026)?
Major Banks: 6.50% – 7.50% (general), 7.00% – 8.00% (senior citizen). Small Finance Banks: 7.50% – 9.00%. NBFCs: 7.00% – 8.50%. Rates vary by tenure. 1-3 year tenure typically offers the best rates.
Is FD interest taxable?
Yes, FD interest is fully taxable as "Income from Other Sources" at your applicable slab rate. Form 26AS shows the TDS deducted. Declare FD interest in ITR even if TDS was deducted.
Is this FD calculator free?
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