Maturity amount and interest on a ₹10,00,000 fixed deposit at common bank rates.
A fixed deposit of ₹10,00,000 (10 lakh) for 3 years at 7% interest, compounded quarterly, grows to ₹12,31,439. You earn ₹2,31,439 in interest.
7% is an example rate. FD rates differ between banks and change often — check your bank's current rate.
| Interest rate | Interest earned | Maturity amount |
|---|---|---|
| 6% | ₹1,95,618 | ₹11,95,618 |
| 6.5% | ₹2,13,408 | ₹12,13,408 |
| 7% | ₹2,31,439 | ₹12,31,439 |
| 7.5% | ₹2,49,716 | ₹12,49,716 |
| 8% | ₹2,68,242 | ₹12,68,242 |
| 8.5% | ₹2,87,019 | ₹12,87,019 |
| Tenure | Interest earned | Maturity amount |
|---|---|---|
| 1 year | ₹71,859 | ₹10,71,859 |
| 2 years | ₹1,48,882 | ₹11,48,882 |
| 3 years | ₹2,31,439 | ₹12,31,439 |
| 5 years | ₹4,14,778 | ₹14,14,778 |
FD interest is added to your income and taxed at your slab rate. Here you earn about ₹77,146 a year on average. Banks deduct TDS when your interest with them crosses the yearly threshold (₹50,000 for most people and ₹1 lakh for senior citizens from FY 2025-26). If your total income is below the taxable limit, submit Form 15G (or 15H if you're a senior citizen) to avoid TDS.
At 7% with quarterly compounding, a ₹10,00,000 FD for 3 years earns about ₹2,31,439, and the maturity amount is ₹12,31,439.
Yes. FD interest is taxed at your income tax slab rate. Banks may also deduct TDS if interest exceeds the yearly threshold.