What are current FD interest rates in India 2026?

FD interest rates in India (2026): SBI 6.50–7.00%, HDFC Bank 6.60–7.25%, ICICI Bank 6.60–7.25% for general customers. Senior citizens get 0.25–0.50% higher. Small finance banks offer 7.50–9.00%. Post Office Term Deposits: 6.90–7.50% (government backed). Rates change with RBI repo rate decisions.

Can FD investment be claimed under Section 80C?

Yes. A 5-year tax-saving FD qualifies for Section 80C deduction (up to ₹1.5 lakh). It has a compulsory 5-year lock-in and cannot be broken prematurely. The principal gets a tax benefit but the interest earned remains taxable. Senior citizens additionally get 80TTB deduction up to ₹50,000 on FD interest.

FD Calculator India 2026 — Fixed Deposit Returns Free

Q: Is FD interest taxable in India?

Yes. FD interest is fully taxable as income (added to total income, taxed per slab). TDS at 10% is deducted by banks if annual interest exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G (non-senior, low income) or Form 15H (senior citizens) to avoid TDS. Always declare FD interest in ITR.

Q: What is the difference between cumulative and non-cumulative FD?

Cumulative FD: Interest compounds quarterly, paid at maturity. Higher total payout — best for long-term saving. Non-cumulative FD: Interest paid monthly/quarterly/half-yearly. Lower total but provides regular income — ideal for retirees needing regular cash flow.

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Fixed Deposit (FD) Calculator India 2026

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Current FD Interest Rates India 2026

Bank	1-2 Year FD	3-5 Year FD	Senior Citizen Bonus
SBI	6.80%	6.50%	+0.50%
HDFC Bank	7.00%	7.00%	+0.25–0.50%
ICICI Bank	7.00%	7.00%	+0.25–0.50%
Axis Bank	7.10%	7.10%	+0.50%
Post Office TD	6.90–7.00%	7.50%	Same rate

Rates are indicative as of 2026. Verify with the bank for current rates.

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"The TDS impact feature is gold. Shows exactly how much I lose to taxes. Helped me decide between FD and PPF — chose PPF after seeing the tax comparison."

Rajesh Iyer — Retired officer, Chennai

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"Senior citizen bonus feature showed my mother gets extra ₹12,500 per year on a ₹10L FD at SBI. Small difference but adds up over 5 years."

Kavitha Sharma — Doctor, Mysore

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"Monthly vs quarterly compounding comparison is very useful. ₹10L for 5 years: quarterly gives ₹14,025 less than monthly. Switched to monthly FD."

Vikram Nair — Businessman, Kochi

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Frequently Asked Questions

Is FD interest taxable in India?+

Yes. FD interest is fully taxable per your income slab. TDS at 10% is deducted if annual interest exceeds ₹40,000 (₹50,000 for seniors). Submit Form 15G (non-senior, low income) or Form 15H (seniors) to avoid TDS — but still declare FD interest in ITR.

What is the difference between cumulative and non-cumulative FD?+

Cumulative: Interest compounds quarterly, paid at maturity. Higher total payout — best for long-term saving. Non-cumulative: Interest paid monthly/quarterly/half-yearly at lower total — ideal for retirees needing regular cash flow.

Can FD be claimed under Section 80C?+

Yes. A 5-year tax-saving FD qualifies for 80C deduction up to ₹1.5L. It has a compulsory 5-year lock-in (cannot be broken early). The principal gets a tax break but the interest is still taxable. Senior citizens additionally get 80TTB deduction up to ₹50,000 on FD interest.

How to submit Form 15G/15H to avoid TDS on FD?+

Submit Form 15G (age under 60, total income below ₹2.5L) or Form 15H (senior citizens with zero tax liability) at your bank at the start of each financial year. Most banks accept online submission via net banking. This prevents TDS deduction — but you must still declare interest in ITR.

FD Calculator India 2026

Fixed Deposit (FD) Calculator India 2026

Current FD Interest Rates India 2026

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