FD calculator · rates as of 3 October 2026
FD Calculator 2026: Fixed Deposit Maturity, Rates & Tax
By Pratik Bajoria, Chartered Accountant & NISM-certified Research Analyst · Updated 3 October 2026 · bank rates checked 3 October 2026
A fixed deposit (FD) locks a lumpsum at a fixed rate for a chosen tenure. This FD calculator estimates maturity with quarterly compounding — the method SBI, HDFC Bank and ICICI Bank use for deposits above six months — and shows interest after tax. Current big-bank rates for 1–5 year deposits are roughly 6.25%–6.50% for the general public and 6.75%–7.10% for senior citizens (deposits below ₹3 crore, checked 3 October 2026).
Estimated FD maturity value
₹3.6 L
FD interest rates 2026: SBI vs HDFC Bank vs ICICI Bank
| SBI tenor | General | Senior citizen (60+) |
|---|---|---|
| 1 year to < 2 years | 6.25% | 6.75% |
| 2 years to < 3 years | 6.40% | 6.90% |
| 3 years to < 5 years | 6.30% | 6.80% |
| 5 years to 10 years | 6.05% | 7.05% |
Effective 15 Dec 2025. Source: SBI FD interest rates page. SBI senior 5–10 year rate includes the 0.50% 'SBI WeCare' premium. Amrit Vrishti 444 days: 6.45% (general).
| HDFC Bank tenor | General | Senior citizen (60+) |
|---|---|---|
| 1 year to < 15 months | 6.25% | 6.75% |
| 2 years 1 day to 3 years | 6.45% | 6.95% |
| 3 years 1 day to < 4 years 7 months | 6.50% | 7.10% |
| 5 years 1 day to 10 years | 6.15% | 6.65% |
Effective 19 Aug 2026. Source: HDFC Bank FD interest rates page.
| ICICI Bank tenor | General | Senior citizen (60+) |
|---|---|---|
| 1 year to 389 days | 6.25% | 6.75% |
| 2 years 1 day to 3 years | 6.45% | 6.95% |
| 3 years 1 day to 5 years | 6.50% | 7.10% |
| 5 years 1 day to 10 years | 6.50% | 7.00% |
Effective 3 Oct 2026. Source: ICICI Bank FD interest rates page. Rates for FDs with premature-withdrawal facility.
Selected tenors only; banks also publish rates for 7 days to 1 year and special tenors. Rates change without notice — the rate on your deposit date applies for the full tenure. For comparison, the Post Office 5-year Time Deposit pays 7.5% for October–December 2026 (NSI rate table).
FD formula (quarterly compounding)
Maturity = P × (1 + r / 4)^(4 × t)
P = deposit, r = annual rate (decimal), t = years. ₹5,00,000 for 3 years at 6.5% → ₹6,06,704; at a senior-citizen rate of 7.0% → ₹6,15,720. Quarterly compounding makes 6.5% equal to an effective 6.66% a year. Bank figures may differ by a few rupees because banks count actual days.
FD maturity table (₹)
| Deposit | Rate | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| ₹1,00,000 | 6.25% | ₹1,06,398 | ₹1,20,448 | ₹1,36,354 |
| ₹1,00,000 | 6.5% | ₹1,06,660 | ₹1,21,341 | ₹1,38,042 |
| ₹1,00,000 | 7% | ₹1,07,186 | ₹1,23,144 | ₹1,41,478 |
| ₹5,00,000 | 6.25% | ₹5,31,990 | ₹6,02,241 | ₹6,81,770 |
| ₹5,00,000 | 6.5% | ₹5,33,301 | ₹6,06,704 | ₹6,90,210 |
| ₹5,00,000 | 7% | ₹5,35,930 | ₹6,15,720 | ₹7,07,389 |
| ₹10,00,000 | 6.25% | ₹10,63,980 | ₹12,04,483 | ₹13,63,539 |
| ₹10,00,000 | 6.5% | ₹10,66,602 | ₹12,13,408 | ₹13,80,420 |
| ₹10,00,000 | 7% | ₹10,71,859 | ₹12,31,439 | ₹14,14,778 |
Senior citizen FD: how much the extra 0.50% adds
| Deposit (5 years) | General @ 6.05% | Senior @ 7.05% | Extra for senior |
|---|---|---|---|
| ₹5,00,000 | ₹6,75,088 | ₹7,09,129 | ₹34,041 |
| ₹10,00,000 | ₹13,50,176 | ₹14,18,258 | ₹68,082 |
| ₹25,00,000 | ₹33,75,441 | ₹35,45,646 | ₹1,70,205 |
SBI's senior 5–10 year rate includes the 0.50% WeCare premium (1.00% over the general rate in total). Super senior citizens (80+) get a further 0.10% under SBI Patrons on most schemes.
TDS, Form 15G/15H and tax on FD interest
| Rule | Detail |
|---|---|
| Tax on interest | Added to income and taxed at your slab rate (both regimes); taxable yearly on accrual even for cumulative FDs |
| TDS threshold (bank interest) | ₹50,000 a year per bank; ₹1,00,000 for senior citizens |
| TDS rate | 10% with PAN; 20% if PAN not furnished |
| Avoiding TDS | Form 15G (below 60) or 15H (60+) if your tax liability is nil |
| Senior citizen deduction | Up to ₹50,000 of deposit interest — old regime only |
| 5-year tax-saver FD | Counts toward the ₹1.5 lakh 80C limit (old regime only); 5-year lock-in |
| Deposit insurance | DICGC covers up to ₹5 lakh per depositor per bank |
Post-tax yield matters more than the headline rate. A 6.5% FD (6.66% effective) leaves roughly:
| Your slab (plus 4% cess) | Post-tax yield on 6.5% FD |
|---|---|
| Nil (income below taxable limit) | 6.66% |
| 5% | 6.31% |
| 20% | 5.27% |
| 30% | 4.58% |
Sources: TDS thresholds and rates as published on ICICI Bank's FD rates page for the Income-tax Act, 2025; DICGC for deposit insurance. Compare regimes in the old vs new tax regime calculator.
Chart: ₹5 lakh FD growth at general vs senior rates
FD vs RD vs PPF vs debt fund
| Bank FD | RD | PPF | Debt mutual fund | |
|---|---|---|---|---|
| Return | Fixed (≈6.25–6.5% big banks) | Fixed, similar to FD | 7.1% (Q3 FY 2026-27), reset quarterly | Market-linked, not guaranteed |
| Lock-in | Chosen tenure; penalty on early exit | Chosen tenure | 15 years (partial withdrawals from year 7) | None (exit loads may apply) |
| Tax | Slab rate | Slab rate | Exempt (EEE) | Slab rate on gains |
| Best for | Known lumpsum goals, emergency layer | Monthly saving for 1–5 years | Long-term tax-free debt | Liquidity and laddering |
Saving monthly instead? Use the RD calculator. For long-term tax-free debt see the PPF calculator, and for a full comparison read SIP vs FD vs PPF 2026. An FD ladder works well for the second layer of an emergency fund. Saving for a girl child's education or marriage? Compare with the government small-savings route in the Sukanya Samriddhi calculator. Planning for a dated goal such as a house down payment? The goal calculator shows the monthly SIP needed after inflation.
Frequently asked questions
How is FD maturity calculated?
Banks compound FD interest quarterly for tenors above six months: Maturity = P × (1 + r/4)^(4 × years). Example: ₹5,00,000 for 3 years at 6.5% grows to about ₹6,06,704 — interest of ₹1,06,704. Deposits of six months or less usually earn simple interest.
What is SBI's FD rate in October 2026?
For retail deposits below ₹3 crore, SBI's card rates (effective 15 Dec 2025) are 6.25% for 1–2 years, 6.40% for 2–3 years, 6.30% for 3–5 years and 6.05% for 5–10 years for the general public; senior citizens get 0.50% more (7.05% for 5–10 years including the SBI WeCare premium). Always confirm on SBI's website before booking.
How much extra do senior citizens get on FDs?
SBI, HDFC Bank and ICICI Bank pay resident senior citizens (60+) about 0.50% a year more than the general rate on most tenors; some long-tenor schemes add a further premium (SBI WeCare, for example). On ₹10 lakh for 5 years, an extra 0.5% is worth roughly ₹33,000–₹35,000 more at maturity (quarterly compounding).
When is TDS deducted on FD interest?
From FY 2025-26 onwards banks deduct TDS when your total interest from that bank exceeds ₹50,000 in a financial year (₹1,00,000 for senior citizens). TDS is 10% if PAN is furnished and 20% if not. If your total income is below the taxable limit you can submit Form 15G (or 15H if you are 60+) to avoid TDS. TDS is not the final tax: FD interest is taxed at your slab rate.
Is FD interest tax-free under the new regime?
No. FD interest is fully taxable at your slab rate in both regimes. The old regime gives senior citizens a deduction of up to ₹50,000 on deposit interest and allows a 5-year tax-saver FD under the ₹1.5 lakh 80C limit; neither is available in the new regime. Interest on cumulative FDs is taxable each year as it accrues.
Is my FD safe?
Deposits in banks are insured by DICGC up to ₹5 lakh per depositor per bank (principal plus interest, across all accounts in the same capacity). Spread larger amounts across banks if you want full cover.
Educational tool only — not investment, tax or legal advice. Figures are formula-based illustrations using the stated assumptions; actual outcomes depend on notified rates, rules and your specific facts. Verify with official sources or a qualified professional before acting. Findost (findost.io) and PaisaGuru by Findost are not affiliated with Findoc, FinDost, or other similarly named brands. PaisaGuru is the AI wealth concierge of Findost.