Calculate bank Fixed Deposit maturity value, guaranteed interest returns, and yearly progression.
| Year | Principal Deposit | Cumulative Interest | Total Maturity Value |
|---|
A Fixed Deposit is a secure investment instrument offered by banks and NBFCs where money is deposited for a fixed tenure at an agreed interest rate, unaffected by market fluctuations.
Most Indian banks compound FD interest quarterly using the formula: A = P × (1 + r/n)^(n×t), where n = 4.
Yes, senior citizens (age 60+) typically receive 0.50% higher interest rates compared to regular investors.
Yes, FD interest earned is fully taxable according to your applicable income tax slab. Banks deduct TDS if interest exceeds ₹40,000 in a financial year.
Yes, premature withdrawal is allowed by most banks, though a small penalty (usually 0.5% to 1%) is charged on the applicable interest rate.
Tax saver FDs offer deduction up to ₹1.5 Lakh under Section 80C, but come with a lock-in period of 5 years with no premature withdrawal option.