FD calculator
Put in the amount, the rate and the term. This tells you what the bank will hand back, and what changes that number.
Record this deposit once and the app does the rest: reminded before it matures, told the day TDS starts at that bank, and the rules of the product explained with your own numbers. Free, and your deposits stay on your phone.
Get it on Google PlayQuestions people ask
How is FD interest calculated?
Banks compound quarterly. Each quarter's interest is added to the balance, and the next quarter earns on the larger figure. For terms under six months many banks use simple interest instead.
Do senior citizens get more?
Usually between 0.25% and 0.75% more, and the exact extra is set by each bank for each tenure bucket. There is no single national premium.
Can I take the money out early?
Almost always, apart from a tax-saver FD. You get the rate that applied for the period you actually held it, less a penalty on that rate. Both together can leave you with less than you expected.
Is FD interest taxable?
Yes, in full, at your slab rate. TDS is a separate thing: the bank deducts a part up front once interest at that bank crosses the yearly limit, and you settle the rest when you file.
What happens if I do nothing at maturity?
It depends what the bank has on record. Many renew automatically at that day's rate for the same term. Where there is no instruction, the money sits in the account earning the savings rate, around 3%.