FD Calculator with TDS
The maturity value of a bank fixed deposit and the tax the bank deducts at source on its interest, with the higher limit for senior citizens.
Result
Maturity value: ₹10,77,135.87Estimate
TDS is not a final tax: the interest is taxed at your slab rate on your return, with TDS credited. Form 121 stops TDS if you owe no tax.
- Total interest
- ₹77,135.87Estimate
- Interest in the first year
- ₹77,135.87Estimate
- TDS on the first year’s interest
- ₹7,713.59Estimate
- Effective yearly rate
- 7.71%
https://calcgallery.com/investment-returns/fd-tds-calculator/
Results are arithmetic on the returns, rates and horizons you enter, not a forecast and not investment, tax or retirement advice. The site supplies no expected return, inflation rate, contribution limit, tax rate or withdrawal rate. Real returns vary from year to year, and fees, taxes and the order of returns all change the outcome. Check anything that matters with a qualified adviser. Read the full disclaimer
How to use the FD Calculator with TDS
- Enter the amount, the bank's interest rate and the number of years.
- Choose how often the bank compounds. Most banks compound cumulative deposits every quarter.
- Say whether you are 60 or over and whether the bank has your PAN.
- Read the maturity value, the interest, and the tax the bank deducts on the first year's interest.
How the maturity value is worked out
A cumulative deposit adds each period’s interest to the balance, so the next period earns interest on it too. With a yearly rate r compounded n times a year for t years:
maturity = deposit × (1 + r ÷ n) ^ (n × t)At 7.5% compounded quarterly the deposit grows by 1.875% each quarter, which works out to about 7.71% a year. The page shows that effective yearly rate as well.
How the TDS check works
The page takes the interest earned in the first year and compares it with the limit for you: ₹50,000, or ₹1,00,000 for a senior citizen. Above the limit it deducts 10% of that year’s interest, or 20% if you have not given your PAN. On a deposit of ₹10 lakh at 7.5% the first year’s interest is ₹77,136, so TDS of ₹7,714 is deducted.
Banks deduct TDS when interest is credited or accrued, which for a cumulative deposit happens at least once each financial year. For a multi-year deposit, later years earn more interest, so check those years too.
What the page leaves out
It does not count interest from your other deposits with the same bank, which also count towards the limit. It does not cover non-resident deposits, which have their own rules, or tax-saver deposits under the old regime.
With your numbers
- Maturity = deposit × (1 + rate ÷ n) to the power of n × years
- TDS applies to the whole year’s interest once it crosses the threshold
Quick reference
TDS is not a final tax: the interest is taxed at your slab rate on your return, with TDS credited. Form 121 stops TDS if you owe no tax.
| Example | Maturity value |
|---|---|
| ₹10 lakh at 7.5%, 1 year | ₹10,77,135.87 |
| ₹5 lakh at 7%, 1 year | ₹5,35,929.52 |
| ₹10 lakh, senior citizen | ₹10,77,135.87 |
| ₹10 lakh, no PAN | ₹10,77,135.87 |
| ₹2 lakh at 6.5%, 5 years | ₹2,76,083.95 |
| ₹25 lakh at 7.25%, 3 years | ₹31,01,367.48 |
Where the numbers come from
The fixed figures this calculator relies on, and the published source each one was checked against. How the calculators are built and checked
3 sources
Income-tax Act, 2025 as amended by the Finance Act 2026, https://www.incometaxindia.gov.in/documents/d/guest/income_tax_act_2025_as_amended_by_fa_act_2026-pdf, s.393(1) Table Sl. 5(ii)
Used for
- TDS on interest: threshold a year per payer, other than senior citizens.
- TDS on interest: threshold for senior citizens.
Finance Act 2026, First Schedule Part II, https://egazette.gov.in/WriteReadData/2026/271439.pdf
Used for
- TDS rate on interest for a resident with PAN.
Income-tax Act, 2025 as amended by the Finance Act 2026, https://www.incometaxindia.gov.in/documents/d/guest/income_tax_act_2025_as_amended_by_fa_act_2026-pdf, s.397(2)(b)(i)
Used for
- TDS rate when no PAN is furnished.
Common questions about the FD Calculator with TDS
- When does a bank deduct TDS on FD interest?
- When the interest it pays or credits you in a financial year is more than ₹50,000, or more than ₹1,00,000 if you are a senior citizen. The limit is per bank, across all your deposits with it, not per deposit. Below the limit the bank deducts nothing.
- How much TDS is deducted?
- 10% of the interest if the bank has your PAN, 20% if it does not. Once the interest crosses the limit, TDS is on the whole amount, not only the part above the limit.
- Is TDS the final tax on FD interest?
- No. FD interest is added to your income and taxed at your slab rate when you file your return. The TDS is credited against that tax, so you may owe more if you are in a higher slab, or get a refund if your income is below the taxable limit.
- How do I stop TDS if my income is below the taxable limit?
- Give the bank a declaration on Form 121, which replaced Forms 15G and 15H under the Income-tax Rules, 2026. The bank will not deduct TDS for that year if the declaration is valid.
- Why is my bank's maturity value slightly different?
- Banks count days for broken periods and round in their own way. The page uses whole quarters, months or years, which matches the bank for whole-year deposits.