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.
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.