FD Calculator — Fixed Deposit Maturity 2026
Calculate your FD maturity with the quarterly compounding used by Indian banks. After the 2025 repo cuts, major-bank FD rates have eased to about 6.0–6.5% p.a. as of July 2026.
How FD maturity is calculated
Most Indian bank FDs compound interest every quarter — so the effective annual yield is a little higher than the card rate (7% compounds to an effective 7.19%).
P = deposit r = annual rate % t = years
₹1 lakh FD — maturity at July 2026 rates
| Rate | 1 year | 3 years | 5 years |
|---|---|---|---|
| 6.00% | ₹1,06,136 | ₹1,19,562 | ₹1,34,686 |
| 6.45% (SBI peak, 444-day) | ₹1,06,608 | ₹1,21,162 | ₹1,37,703 |
| 6.50% | ₹1,06,660 | ₹1,21,341 | ₹1,38,042 |
| 7.00% (senior citizen ~+0.50%) | ₹1,07,186 | ₹1,23,144 | ₹1,41,478 |
| 7.50% (Post Office 5-yr TD) | ₹1,07,714 | ₹1,24,972 | ₹1,44,995 |
The default example — ₹1,00,000 at 6.5% for 3 years — matures to ₹1,21,341 (interest ₹21,341). Senior citizens typically earn +0.50% over card rates at most banks.
TDS on FD interest (FY 2026-27)
Banks deduct TDS when your FD interest across the bank crosses ₹50,000 in a financial year — ₹1,00,000 for senior citizens. If your total income is below the taxable limit, submit Form 15G (or 15H for seniors) to receive interest without deduction. FD interest is always taxable at your slab rate; TDS is just an advance collection.
Frequently asked questions
How is FD maturity calculated?
Most Indian bank FDs compound quarterly: A = P × (1 + r ÷ 400)^(4t), where P is the deposit, r the annual rate and t the tenure in years. ₹1,00,000 at 7% for 1 year matures to ₹1,07,186 — an effective yield of 7.19%.
What are FD interest rates in India in July 2026?
After the 2025 repo rate cuts, major-bank FD rates have eased to roughly 6.0–6.5% p.a. — SBI's peak is 6.45% on its 444-day tenor. Senior citizens typically get +0.50%. The Post Office 5-year Time Deposit pays 7.5%, notably higher than most banks.
When is TDS deducted on FD interest?
For FY 2026-27, banks deduct TDS when your FD interest across the bank exceeds ₹50,000 in a financial year (₹1,00,000 for senior citizens). If your total income is below the taxable limit, submit Form 15G/15H to avoid the deduction.
Is a bank FD better than a Post Office Time Deposit?
On rate alone, the Post Office 5-year TD at 7.5% beats major-bank FDs at 6.0–6.5% (July 2026): ₹1 lakh for 5 years grows to about ₹1,44,995 at 7.5% versus ₹1,38,042 at 6.5%. Banks offer more tenor flexibility and easier premature withdrawal.
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