Fixed Deposit Calculator
 Principal (in Rs.) APR (in %) compounded every Monthly Quarterly Semi-annually Annually duration (in yrs) duration (in months) duration (in days) TDS rate (in %) Education cess rate (in %) TDS deducted every at end of maturity Quarterly Semi-annually Annually
 Results: Expected Interest (in Rs.) Expected Balance (in Rs.) Taxes withheld (in Rs.) Net balance (in Rs.)

### TDS, Interest calculation on Fixed Deposit

This calculator is to find out how much would you get for a given fixed deposit in India. Enter the prinicpal amount, the APR that you are getting, and the duration, and the calculator calculates your final maturity amount, TDS, etc. Leave the default values as such, as these are what are currently in use.

• Enter Principal (your deposit amount)
• Enter APR (Annual percentage Rate) quoted by bank (irrespective of how it's compounded). Note: Do NOT enter the APY (annual percentage yield) quoted by some institutions as it already takes compounding into account, so APY is a kind of gimmick that you should understand.
• default compound rate is quarterly for all national banks (SBI,etc) and most private banks (ICICI,etc).
• Enter duration of your Fixed Deposit. Enter exact years, months and days. My calculator sums up total days as = 365*years + 30*months + days. I included these as many banks have special FDs being offered only for certain number of days or months, so you can directly enter that value here, without doing any calculations.
• TDS rate is 30% for NRI accounts. Education cess rate is 3% of the tax paid (i.e 3% of TDS). However, you can get almost all of it back, when you file your income tax return.
• Expected Interest is the interest amount that you should expect to get, assuming no tax.
• Expected balance is the maturity amount that banks quote, when you make the fixed deposit, assuming no tax. So, whenever you open an FD, compare the maturity amount bank quoted you with the one shown on calculator. There should be no difference ta all.
• Taxes withheld is the tax that will be withheld by bank. This includes TDS and Education cess. However, this also includes money lost due to compounding of tax, but government pays you that money back with 6% interest, so you recover most of it. Point is: taxes withheld would sum up to more than TDS and education cess withheld, if your TDS is being deducted periodically, instead of at the end of the maturity term.
• Net balance is the final amount that the bank will pay you upon maturity. So, whenever your FD matures, compare the maturity amount bank gave you with the one shown on calculator. Again the difference should be less than 0.1% here.

Note: Banks deduct TDS amount whenever they pay you interest. Most of the banks deduct TDS yearly (on 31st March of the year) even though they pay you interest quaterly, and very few deduct TDS quarterly (at the end of every quarter). So, the amount of (principal + interest) used for compounding reduces (because of TDS payments made to the government), thereby bringing down your net balance. The calculator takes that into account. If TDS is being paid at the end of maturity, then you get the maximum net balance. This doesn't affect your expected interest and expected balance, but just the taxes and net balance. Different banks have different schedule of TDS payments. If you are not sure what TDS schedule your bank uses, try both the options: "TDS deducted quarterly" and "TDS deducted at end of maturity". The net balance that bank gives you upon the closure of FD should be in between these 2 ranges. If not then you should seriously ask the bank about the discrepancy.