Creating a Fixed Deposit? Calculate the future value of your wealth using our Lumpsum Calculator. And Check the TDS Limit as per current Financial Year Interest rates for your FDs.
Fixed Deposit TDS Calculator
Calculate Returns & TDS Liability
General: ₹50,000 | Senior: ₹1,00,000
| Bank | General Citizens | Senior Citizens (60+) | Tenure |
|---|---|---|---|
| State Bank of India | 6.05% - 6.25% | 6.55% - 6.75% | 1–5 years |
| ICICI Bank | 6.50% | 7.00% - 7.10% | 1–10 years |
| HDFC Bank | 6.25% - 6.60% | 6.75% - 7.00% | 1–5 years |
| Punjab National Bank | 6.25% - 6.70% | 6.75% - 7.10% | 1–444 days |
| Axis Bank | 6.00% - 6.70% | 6.50% - 7.20% | 1–10 years |
| Canara Bank | 6.25% | 6.75% | 1–5 years |
⚠️ Note: Rates mentioned are as of May 2026 and vary by tenure and deposit amount. Senior citizens typically receive 0.50% additional interest. Verify with your bank before investing as rates change frequently.
Plan Your Fixed Deposit with Our TDS Limit Calculator & Form 121 for 2026-27
Worried about TDS on fixed deposit interest? Our Fixed Deposit TDS Calculator simplifies tax planning by calculating your exact liability. This FD TDS Limit Calculator reveals whether you’ll trigger the ₹50,000 threshold and helps you maximize returns.
Why Use a Fixed Deposit TDS Calculator? Benefits of Our FD TDS Limit Calculator?
Fixed deposits are a secure investment choice in India, offering guaranteed returns. However, TDS (Tax Deducted at Source) can reduce your earnings if your FD interest exceeds the threshold. Our FD TDS Limit Calculator simplifies planning by showing:
- Deposit Amount: Your initial investment.
- Future Value: The total value of your FD after the tenure.
- Interest Earned: The interest you’ll earn, formatted in the Indian number system (e.g., ₹1,23,456.78).
- Exact deposit amounts needed to stay below TDS thresholds
- Why a TDS Limit Calculator for FDs prevents costly surprises
- How our FD Calculator TDS determines your final returns
Enter your principal amount, interest rate, time period, compounding frequency, and citizen type (general or senior citizen). The calculator instantly displays your returns and warns if your interest exceeds the TDS limit for 2026-27 (₹50,000 for general citizens, ₹1,00,000 for senior citizens), helping you plan smarter investments.
Avoid TDS with Form 121 (New) and Understanding TDS Thresholds
Important Update – April 1, 2026: Form 121 is now the unified self-declaration form replacing the older Forms 15G and 15H. It is PAN-based and age-neutral, allowing taxpayers to avoid TDS if their total interest income is under the threshold (₹50,000-₹1 lakh) or total annual income is below the taxable limit.
TDS applies to FD interest exceeding specific limits in 2026-27:
- General Citizens: ₹50,000 per year.
- Senior Citizens (60+): ₹1,00,000 per year.
Key Thresholds to Remember:
- If your total income is below the maximum taxable amount of ₹4 lakh (new tax regime) or ₹2.5 lakh (old tax regime), you may be exempt from TDS deductions.
- The TDS charged on fixed deposit interest is 10% if you submit your PAN card and 20% if you don’t.
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Important: Using a Fixed Deposit TDS calculator before investing helps you:
- Plan deposits strategically using our FD TDS Calculator
- Avoid penalties by understanding limits with TDS Calculator for FD
- File Form 121 with complete information from your calculation
What Changed:
- Form 121 is one unified form (not separate for different age groups like 15G/15H)
- It’s age-neutral (no distinction between general and senior citizens)
- Still filed annually with your bank
Note: Form 15G and Form 15H continue to be used where total income is below the taxable limit until the formal transition is complete.
How Our FD TDS Limit Calculator Saves You Money
Our calculator is designed to help you:
- Optimize Investments: Find the ideal principal to keep interest below TDS limits (₹50,000 or ₹1,00,000).
- Plan Efficiently: Adjust tenure and compounding frequency to balance returns and tax savings.
- Stay Alert: Receive instant TDS warnings if interest exceeds the 2026-27 limits.
- Understand Your Tax Bracket: Know your total income threshold to determine if Form 121 is necessary.
For example, a general citizen can calculate the principal needed to earn up to ₹50,000 in interest without triggering TDS. Our calculator provides precise results based on your interest rate and tenure.
Understanding TDS Deduction Timing
Important Concept – TDS on Accrued Interest: For FDs where interest is compounded and paid at maturity, TDS will be deducted annually on the accrued interest, even though the depositor has not physically received the interest. The final deduction for FD interest occurs at maturity if the accumulated interest exceeds the threshold.
This means:
- You may owe TDS on interest you haven’t yet received
- Interest income from fixed deposits must always be reported in your income tax return, even if TDS was not deducted.
How to File Form 121 (or Form 15G/15H during transition)
Step-by-Step:
- Assess your total annual income (salary, interest, rental income, etc.)
- Check if it falls below your applicable taxable threshold (₹4 lakh or ₹2.5 lakh)
- For FY 2026-27: Submit Form 121 to your bank at the start of the financial year
- Your bank will not deduct TDS on your FD interest if your form is valid
- Still report all interest earned in your annual ITR filing
Important Warning: False or misleading declarations in Form 121 (or the older Form 15G/15H) can lead to penalties under the Income Tax Act, including imprisonment if tax evaded exceeds ₹25 lakh. Verify your eligibility before submitting.
How to Use Our Calculator and Download Forms
Our Fixed Deposit TDS Limit Calculator works in 4 simple steps:
Step 1: Enter Your Details in the FD TDS Calculator
- Input your principal amount, interest rate, time period, compounding frequency, and citizen type.
- View your Deposit Amount, Future Value, and Interest Earned in Indian format (e.g., ₹1,23,456.78).
- Check for a TDS warning if interest exceeds the 2026-27 limits.
- For Form 121 or Form 15G/15H: DOWNLOAD HERE
Tips to Maximize Your FD Returns in 2026-27
- Split FDs Across Banks: Tip 1: Use the FD TDS Calculator for Each Bank Our Fixed Deposit TDS Calculator shows per-bank limits. Keep each bank’s interest below ₹50,000 using separate FD TDS Limit Calculator calculations (or ₹1,00,000 for seniors) to avoid TDS without filing exemption forms.
- Know Your Total Income: Calculate your total annual income including salary, rental income, and other sources to determine if you qualify for TDS exemption.
- Choose Tax-Saver FDs: Invest up to ₹1.5 lakh in 5-year FDs for tax deductions under Section 80C.
- Compare Bank Rates: Explore different banks to secure the highest interest rates for your tenure.
- File Form 121 Early: Submit Form 121 at the start of the financial year (April) to prevent TDS deductions if eligible.
- Track Accrued Interest: For compound interest FDs, note that TDS applies to accrued interest annually, not just at maturity.
Start Saving Tax Today!
Don’t let TDS reduce your FD earnings. Use our Fixed Deposit TDS Limit Calculator today to plan investments strategically. This FD TDS Calculator is free, accurate, and helps you avoid penalties while maximizing post-tax returns on Fixed Deposit TDS investments
Disclaimer: Consult a qualified financial advisor or tax professional before investing. Ensure eligibility for Form 121 (or Form 15G/15H during transition) to avoid penalties. This content is for educational purposes only and does not constitute investment or tax advice.
