🏦 FD Calculator
See how your fixed deposit grows over time. Adjust sliders to update.
💰 Net Worth
₹0
📈 Assets
₹0
📉 Liabilities
₹0
🎯 Score
78
Deposit Details
₹1,40,255
Total interest₹40,255
Effective yield8.0%
💡 Insight: Compounding works best over longer periods.
Principal vs Interest
🟡 Gold: principal · 🔵 Blue: interest
Your FD story
- Principal: ₹1,00,000 at 7.0% for 5 years.
- Maturity amount: ₹1,40,255.
- Interest earned: ₹40,255 (effective yield 8.0%).
- 💡 Takeaway: Longer tenures dramatically boost returns through compounding. Track your progress in the Wealth Wallet.
FD best practices
- Compare rates: Your current rate 7.0% – check if smaller banks or NBFCs offer better rates (up to 8.5%).
- Ladder your FDs: Split into multiple tenures (1,2,3 years) to maintain liquidity while earning higher rates.
- Tax planning: Interest ₹40,255 is taxable; consider tax‑saving FDs (5‑year lock‑in) under 80C. Compare with the Old vs New Tax Simulator.
- Senior citizen benefits: If eligible, you may get 0.25‑0.5% higher rates.
- Avoid premature withdrawal: Penalty can eat into returns – plan tenure carefully.
- Reinvest interest: Cumulative FDs (like this example) maximise growth; choose cumulative if you don’t need regular payouts.
Frequently asked questions
🏦 FD basics
What is a fixed deposit (FD)? +
An FD locks your money for a fixed tenure at a guaranteed rate. Your current principal is ₹1,00,000 at 7.0% for 5 yrs → maturity ₹1,40,255. Track your overall savings in the Wealth Wallet.
How is FD interest calculated? +
Using compound interest formula (annual compounding). Interest earned = ₹40,255, effective yield 8.0%. Compare with the RD Calculator for monthly savings.
📈 Interest & returns
What’s a good FD interest rate? +
Typically 5‑8%. Your current rate 7.0% is competitive. Senior citizens often get 0.5% higher. Check the Old vs New Tax Simulator to see how interest affects your tax.
How does tenure affect returns? +
Longer tenure = more compounding. Your 5‑year FD gives ₹40,255 interest. Extending to 10 years would roughly double interest (try it!). Use the Savings Sprint Simulator to plan longer goals.
📊 Comparing with other tools
FD vs RD – which is better? +
FD for lump sum, RD for monthly savings. In INDwallet, you can also use the RD Calculator to compare.
Can I break FD prematurely? +
Yes, but penalty (usually 0.5‑1%) applies. Better to use the Emergency Fund Calculator for liquidity needs.
💰 Tax & planning
Is FD interest taxable? +
Yes, interest ₹40,255 is added to income. TDS applicable if interest > ₹40,000 (₹50,000 for senior citizens). Consider tax‑saving options like ELSS in the Investment Wallet.
How does FD affect net worth? +
Your net worth (summary card) is ₹0; FD maturity adds to assets. Simulate with different principals using the Wealth Wallet.
⚡ Goals & liquidity
Can I use FD for a down payment goal? +
Yes – treat FD as a dedicated goal. Your maturity after 5 years = ₹1,40,255. Pair this with the Family Life Stage for larger goals.
FD vs emergency fund – which first? +
Build emergency fund (3‑6 months expenses) before locking money in FD. See the Emergency Fund Calculator to check your coverage.
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