Calculate your Fixed Deposit returns with quarterly compounding and TDS deductions
Quarterly compounding means interest is calculated and added to principal every 3 months. For example, on ₹1 lakh at 6.5% annually, you earn interest 4 times a year at 1.625% per quarter, resulting in higher returns than simple interest.
TDS at 10% is deducted when your FD interest exceeds ₹40,000 in a financial year from a single bank. Senior citizens have a higher limit of ₹50,000 before TDS applies.
Small finance banks and some private banks typically offer higher rates ranging from 7-9%, while major banks like SBI, HDFC offer 6-7.5%. Rates vary based on tenure and deposit amount.
Yes, most banks allow premature withdrawal with penalty charges of 0.5-1% on the applicable interest rate. The interest is recalculated based on the actual period of deposit.
You need a savings account with the bank, PAN card, Aadhaar card, and address proof. For deposits above ₹10 lakh, additional KYC documents may be required as per RBI guidelines.