Maturity amount and interest on a ₹3,00,000 fixed deposit at common bank rates.
A fixed deposit of ₹3,00,000 (3 lakh) for 3 years at 7% interest, compounded quarterly, grows to ₹3,69,432. You earn ₹69,432 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% | ₹58,685 | ₹3,58,685 |
| 6.5% | ₹64,022 | ₹3,64,022 |
| 7% | ₹69,432 | ₹3,69,432 |
| 7.5% | ₹74,915 | ₹3,74,915 |
| 8% | ₹80,473 | ₹3,80,473 |
| 8.5% | ₹86,106 | ₹3,86,106 |
| Tenure | Interest earned | Maturity amount |
|---|---|---|
| 1 year | ₹21,558 | ₹3,21,558 |
| 2 years | ₹44,665 | ₹3,44,665 |
| 3 years | ₹69,432 | ₹3,69,432 |
| 5 years | ₹1,24,433 | ₹4,24,433 |
FD interest is added to your income and taxed at your slab rate. Here you earn about ₹23,144 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 ₹3,00,000 FD for 3 years earns about ₹69,432, and the maturity amount is ₹3,69,432.
Yes. FD interest is taxed at your income tax slab rate. Banks may also deduct TDS if interest exceeds the yearly threshold.