Tax Saving FD Calculator India — Section 80C Fixed Deposit
Fixed Deposit Maturity · Bank Comparison · Tax Impact · Senior Citizen Rates
5-year tax saving FD under Section 80C lets you invest up to ₹1.5L per year and claim deduction — saving up to ₹46,800 tax at 30% slab. But unlike other 80C options, tax saving FD has a 5-year lock-in with no premature withdrawal and no loan facility. Interest earned is fully taxable. Compare total after-tax return vs ELSS or NSC to make the right Section 80C choice.
🏦 Fixed Deposit Calculator
📅 Interest Payout Schedule
| Quarter | Period | Interest Payout | Cumulative Interest | Balance |
|---|---|---|---|---|
| Q1 | Jun 2026 | ₹8,875 | ₹8,875 | ₹5,08,875 |
| Q2 | Sept 2026 | ₹9,033 | ₹17,908 | ₹5,17,908 |
| Q3 | Dec 2026 | ₹9,193 | ₹27,100 | ₹5,27,100 |
| Q4 | Mar 2027 | ₹9,356 | ₹36,456 | ₹5,36,456 |
| Q5 | Jun 2027 | ₹9,522 | ₹45,979 | ₹5,45,979 |
| Q6 | Sept 2027 | ₹9,691 | ₹55,670 | ₹5,55,670 |
| Q7 | Dec 2027 | ₹9,863 | ₹65,533 | ₹5,65,533 |
| Q8 | Mar 2028 | ₹10,038 | ₹75,571 | ₹5,75,571 |
| Q9 | Jun 2028 | ₹10,216 | ₹85,787 | ₹5,85,787 |
| Q10 | Sept 2028 | ₹10,398 | ₹96,185 | ₹5,96,185 |
| Q11 | Dec 2028 | ₹10,582 | ₹1,06,767 | ₹6,06,767 |
| Q12 | Mar 2029 | ₹10,770 | ₹1,17,538 | ₹6,17,538 |
📐 How FD Returns Are Calculated
Compound Interest Formula (Quarterly):
📖 Example Calculation
Deposit: ₹5,00,000 | Rate: 7.1% p.a. | Period: 3 years | Quarterly compounding
💼 Real Life Use Case
₹25L FD @ 7.5% → Monthly interest ₹15,625 as pension supplement
₹5L FD for 3 yrs @ 7.1% → ₹6.23L ready for property purchase
₹8L FD for 5 yrs @ 7.5% → ₹11.5L for child's college fees
6-month expenses in FD — safe, insured, earns more than savings
Frequently Asked Questions
What is the 5-year tax saving FD and how does it work?
5-year tax saving FD: invest ₹100 to ₹1.5L in a single year, claim 80C deduction on investment. Lock-in: strictly 5 years (no premature withdrawal, no loan, no overdraft). Interest is taxable. Available at all scheduled banks. Qualifies for 80C like PPF, ELSS but with bank FD safety.
Which is better — ELSS or tax saving FD?
Tax saving FD: guaranteed returns (~7%), 5-year lock-in, low risk. ELSS: market-linked (historical 12–15% CAGR), 3-year lock-in, higher risk. For 30% slab, after-tax ELSS return (~10–12%) beats FD after-tax return (~4.9%). ELSS wins for investors with 7+ year horizon and risk appetite.
Can I open tax saving FD jointly?
Yes — joint FD allowed, but 80C deduction goes to first holder only. First holder must be individual (not HUF or company). Useful for spouses: open individual FDs for each — both get ₹1.5L 80C benefit separately, saving up to ₹1.4L combined tax (at 30% slab). Each must invest from their own income.
What happens to tax saving FD after 5 years?
After 5 years: FD automatically renewed at regular FD rate (not necessarily the same rate). You can withdraw penalty-free or let it renew. Important: once renewed as regular FD, 80C benefit is not available again. Transfer funds to better instruments (SCSS, ELSS, PPF) after lock-in expires.
📌 Key Takeaways
- ✅ FD calculator India helps compare bank rates and compute exact maturity amount
- ✅ Quarterly compounding gives higher returns than simple interest or monthly payout FDs
- ✅ Senior citizens get 0.25–0.50% extra interest on FD across most banks
- ✅ FD interest is taxable — TDS @ 10% deducted if interest exceeds ₹40,000/year
- ✅ DICGC insures deposits up to ₹5 lakh per depositor per bank
- ✅ FD Ladder strategy gives both liquidity and better returns than single FD
- ✅ Tax-saving FD under 80C: 5-year lock-in, max ₹1.5L deduction per year