Compound Interest Calculator

Yes. Interest is added to your income and taxed at your slab rate. TDS at 10% kicks in if annual interest > ₹40,000 (₹50,000 for seniors) at a single bank. Submit Form 15G/15H if your total income is below taxable.

Bank FDs are insured up to ₹5 lakh per depositor per bank by DICGC. Public-sector banks and large private banks are the safest practical choice. Avoid co-operative banks for large deposits.

Yes. Most banks charge a 0.5-1% penalty on the applicable rate (effective rate, not the contracted one). Some special FDs are non-withdrawable — read terms carefully.

Yes, slightly. Quarterly compounding gives more than yearly. The difference between quarterly and monthly is small (~0.1-0.2% effective).

Banks typically offer 0.25-0.75% extra interest to senior citizens (60+). Some special senior-citizen schemes (SCSS) offer government-backed rates around 8%.

Savings accounts offer 2.5-4% but full liquidity. FDs offer 6-8% but lock the money. For an emergency fund use a savings/liquid fund. For idle money beyond emergency, FDs make sense.

Cumulative reinvests interest until maturity — best for long-term growth. Non-cumulative pays interest monthly/quarterly to you — useful for regular income (retirees). Same maturity rate, different cash flow.

5-year tax-saver FDs qualify for ₹1.5L deduction under section 80C. Useful if you have unused 80C limit. But returns are taxable and locked in for 5 years — ELSS funds typically beat them over 5+ years.