FD vs other safe investments
Fixed deposits offer guaranteed returns and deposit insurance (DICGC covers up to ₹5 lakh per bank per depositor). Compare the post-tax return with PPF (tax-free) or debt funds, especially if you are in a high tax bracket. For long-term goals, see how a SIP could grow.
How to use the FD Calculator tool
- Enter the deposit amount, interest rate and tenure.
- Choose the compounding frequency (quarterly for most banks).
- See the maturity amount and total interest.
Why SaralKit?
- Free forever: no "credits", no trial, no premium tier, no watermark and no daily limit.
- No account, ever: nothing to sign up for. Just open the page and use it.
- No data stored: your files and the numbers you type are processed by your own browser. We never upload, store or see them.
- Works offline: once the page has loaded, most tools keep working without internet.
- Open source: anyone can read the code on GitHub.
Frequently asked questions
How is FD interest calculated?
Most Indian banks compound FD interest quarterly: A = P × (1 + r/4)4t, where r is the annual rate and t is the tenure in years. Choose another compounding frequency if your bank uses one.
Is FD interest taxable?
Yes. FD interest is added to your income and taxed at your slab rate. Banks deduct TDS if interest exceeds the threshold in a year; submit Form 15G/15H if your total income is below the taxable limit.
What about senior citizen rates?
Most banks offer senior citizens an extra 0.25–0.75% on FDs. Enter the senior citizen rate shown by your bank.
Cumulative or payout FD?
A cumulative FD reinvests interest (higher maturity value). A payout FD pays interest monthly or quarterly, which suits regular income needs; choose "Simple interest (payout)" to see total interest received.