FD Calculator
Calculate fixed deposit maturity value with quarterly compounding (RBI standard for Indian banks).
Earn 7%+ on FD with small finance banks
Top SFBs like Equitas and AU offer 7%+ FD rates while major banks cap at 6.5%. All deposits are RBI-insured up to Rs 5 lakh.
Compare savings accounts ›Frequently asked questions
How is FD interest compounded in India?
Most Indian banks compound FD interest quarterly (every 3 months), per RBI guidelines. Some smaller co-op banks use annual compounding. Quarterly compounding gives slightly higher effective yield than annual at the same nominal rate.
Are FD returns taxed in India?
Yes — FD interest is fully taxed at your income tax slab. TDS at 10% applies if interest exceeds Rs 40,000/year (Rs 50,000 for seniors). Submit Form 15G/15H to avoid TDS if your total income is below the taxable threshold.
Which bank gives the highest FD rate in India?
Small finance banks (Equitas, AU, Suryoday, Jana, Ujjivan) typically offer 7-8% — highest among Indian options. Major banks (HDFC, ICICI, SBI, Axis) cap at 6.5-7%. Senior citizens get +0.25-0.5% across all banks.
Are small finance bank FDs safe?
Yes — RBI regulates SFBs and DICGC insurance covers up to Rs 5 lakh per depositor per bank. For amounts above Rs 5 lakh, diversify across 2-3 banks for full coverage.
Can I break my FD before maturity?
Yes, but with penalty — typically 0.5-1% reduction in the applicable interest rate. Some banks have higher penalty in the first year. For predictable liquidity needs, ladder multiple smaller FDs with staggered maturity dates instead.