TDS on FD Interest Calculator India — Net Returns After Tax
Real-World Examples — 2026
₹5 lakh FD at 7.1% for 3 years
₹5 lakh FD at 7.1% earns approximately ₹1,15,893 interest over 3 years. TDS at 10% = ₹11,589. Net interest received: ₹1,04,304. If you're in the 20% slab, file ITR to pay the balance ₹11,589 and claim TDS credit.
Senior citizen with ₹7 lakh FD — Form 15H impact
Senior citizen with ₹7 lakh FD at 7.5% earns ₹52,500/year interest. Without Form 15H, TDS = ₹5,250. With Form 15H (if total income is below ₹3 lakh), TDS is nil — they receive full ₹52,500.
Frequently Asked Questions
What is the TDS rate on FD interest?
Banks deduct TDS at 10% on FD interest if the annual interest exceeds ₹40,000 (₹50,000 for senior citizens). If PAN is not provided, TDS is deducted at 20%. The interest is still taxable at your slab rate — TDS is only advance tax credit.
How do I avoid TDS on FD interest?
Submit Form 15G (non-senior citizens with total income below the taxable limit) or Form 15H (senior citizens) to the bank. This declaration tells the bank your income is below the taxable limit and TDS should not be deducted. Submit fresh forms at the start of every financial year.
Is FD interest fully taxable?
Yes. FD interest is added to your total income and taxed at your applicable slab rate. TDS is deducted at 10% as advance tax, but your actual liability depends on your income slab. If you are in the 30% slab, you owe additional tax on FD interest even after TDS.
Is the TDS on FD Calculator free?
Yes, the TDS on FD Calculator on CalcPhi is completely free with no registration required.
Are my inputs stored?
No. All calculations run in your browser. We do not store any financial data.
Can I use the TDS on FD Calculator on mobile?
Yes. CalcPhi is fully mobile-optimised and works on all modern smartphones.