Is FD interest taxable?

Yes. FD interest is added to your income and taxed at your applicable slab rate. TDS is deducted if interest exceeds ₹40,000 per year (₹50,000 for senior citizens).

Which bank offers the highest FD rate?

Small finance banks and some NBFCs often offer higher rates than large banks. Always check current rates as they change frequently.

Can I break an FD early?

Yes, but premature withdrawal usually incurs a penalty of 0.5%–1% below the applicable rate.

Calculator

FD Calculator

Calculate the maturity amount and interest earned on your Fixed Deposit across different banks and tenures.

Principal Amount

₹

₹1K₹50L

Interest Rate

% p.a.

1%15%

Tenure

Years

1 yr10 yrs

Compounding Frequency

Principal ₹1,00,000

Interest Earned ₹23,650

Maturity Amount ₹1,23,650

19% Earnings

Current FD Rates (Top Banks)

Bank	General	Senior Citizen
SBI	6.50%	7.50%
HDFC Bank	7.10%	7.60%
ICICI Bank	7.10%	7.60%
Axis Bank	7.10%	7.85%
Kotak Bank	7.25%	7.75%
PNB	6.50%	7.25%
Bank of Baroda	6.85%	7.35%

* Rates for 1–3 year tenure. Updated April 2026.

How FD Interest Works

Fixed Deposits offer guaranteed returns at a fixed interest rate. The interest compounds quarterly by default in most Indian banks. Senior citizens typically get an additional 0.25–0.50% over regular rates.

Formula: A = P × (1 + r/n)^(n×t)
Where A = maturity, P = principal, r = annual rate, n = compounding frequency, t = years