How to Use This FD Calculator
Enter your deposit amount using the slider or the input field. Set the annual interest rate your bank is offering and choose the tenure in years. Select the compounding frequency — most bank FDs compound quarterly, though some compound monthly or annually. The calculator instantly shows your maturity amount, total interest earned, and the effective annual rate (which accounts for the benefit of compounding).
FD Interest Rates — Major Banks (2026)
| Bank | 1 Year | 3 Years | 5 Years | Senior Citizen Bonus |
|---|---|---|---|---|
| SBI | 6.80% | 7.00% | 6.50% | +0.50% |
| HDFC Bank | 6.60% | 7.00% | 7.00% | +0.50% |
| ICICI Bank | 6.70% | 7.00% | 7.00% | +0.50% |
| Axis Bank | 6.70% | 7.10% | 7.00% | +0.75% |
Updated April 2026. Rates are indicative — check with your bank for exact rates before investing.
Why Compounding Frequency Matters
At the same annual rate, more frequent compounding results in higher returns. A 7% p.a. rate compounded monthly gives an effective annual rate (EAR) of about 7.23%, while the same rate compounded annually stays at 7%. Over a 5-year tenure on ₹10 lakh, monthly compounding earns roughly ₹3,000–₹5,000 more than annual compounding. Always check your bank's compounding schedule — most schedule quarterly compounding.