Calculate your Fixed Deposit maturity amount and effective interest rate. Compare different compounding frequencies to find the best option.
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That’s ₹631 more than the lowest-yielding bank. Pick wisely.
| Bank | 1Y Rate | 5Y Rate | Your Maturityin 1 yrs | Senior Bonus | |
|---|---|---|---|---|---|
AU AU Small Finance Bank BESTHighest FD rate | 7.10% | 6.75% | ₹1.07 L | +0.5% | Open FD |
KMB Kotak Mahindra BankOpen FD online instantly | 7.10% | 6.20% | ₹1.07 L | +0.5% | Open FD |
IND IndusInd BankOpen FD online in 5 mins | 6.75% | 6.65% | ₹1.07 L | +0.5% | Open FD |
ICI ICICI BankInstant redemption option | 6.55% | 6.45% | ₹1.07 L | +0.5% | Open FD |
IDF IDFC First BankBest 5yr rate | 6.50% | 7.15% | ₹1.07 L | +0.5% | Open FD |
Rates are indicative for general public. Add 0.5% for senior citizens. Subject to change. Affiliate links — we may earn a commission at no cost to you.
Compare all FD ratesBest FD Rates in India — June 2026
Compare 15+ banks: Unity SFB 9.5%, Suryoday 9.1%, SBI 7.0%, HDFC 7.4% and more →
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General public rates. Senior citizens earn 0.25–0.5% extra at most banks. Verify rates before booking.
| Principal | 1 Yr @7% | 2 Yr @7.25% | 3 Yr @7% | 5 Yr @7% |
|---|---|---|---|---|
| ₹1 lakh | ₹1.07L | ₹1.15L | ₹1.23L | ₹1.41L |
| ₹5 lakh | ₹5.36L | ₹5.76L | ₹6.14L | ₹7.03L |
| ₹10 lakh | ₹10.72L | ₹11.52L | ₹12.28L | ₹14.07L |
| ₹25 lakh | ₹26.79L | ₹28.80L | ₹30.70L | ₹35.17L |
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Small Finance Banks (Unity SFB, Suryoday SFB) offer 8.5–9%+ for certain tenures. Major banks (SBI, HDFC, ICICI) offer 6.5–7.5%. Senior citizens get additional 0.25–0.5%.
For quarterly compounding: A = P × (1 + r/4)^(4t), where r = annual rate, t = years. Effective yield is higher than the nominal rate due to compounding.
Yes. FD interest is fully taxable as per your income tax slab. TDS at 10% is deducted if annual interest > ₹40,000 (₹50,000 for senior citizens). Submit Form 15G/15H to avoid TDS if income is below taxable limit.
Yes, but most banks charge a 0.5–1% penalty on the applicable rate for premature withdrawal. Some Tax-Saving FDs (5-year lock-in under 80C) cannot be broken early.
Small finance banks like Jana SFB, Utkarsh SFB, and Unity SFB offer 8-9% on 1-2 year FDs, significantly higher than large banks (SBI: 6.5-7%, HDFC: 7-7.25%). SFBs are DICGC-insured up to Rs 5 lakh like regular banks. Senior citizens get an additional 0.25-0.5% in most banks. Always compare rates on BankBazaar before booking.
For holding periods under 3 years: FDs are simpler and guaranteed. Post-2023 budget changes, debt funds are now taxed at slab rate regardless of holding period, eliminating the earlier indexation advantage. For most retail investors, FDs are now simpler and equally tax-efficient for the debt portion of their portfolio.
Banks deduct TDS at 10% when FD interest exceeds Rs 40,000/year (Rs 50,000 for senior citizens). To avoid TDS, submit Form 15G (if total income is below the taxable limit) or Form 15H (senior citizens) at the start of each financial year. TDS on FD is not a final tax - you may get a refund when filing ITR if your actual tax rate is lower than 10%.
Premature FD closure incurs a penalty of typically 0.5-1% off the interest rate. For example, a 2-year FD booked at 7% broken after 1 year earns approximately 6-6.5% instead of 7%. To avoid this, consider an FD ladder - spread investments across 3, 6, 12, and 24-month FDs for staggered liquidity without penalty.
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