Fixed Deposit (FD) & RD Maturity Statement Generator Pro (2026)
Compute accurate bank FD and RD maturity values with standard quarterly compounding, calculate senior citizen interest bonuses (+0.50%), determine Section 194A TDS withholding and Section 80TTB exemptions, and generate an official A4 Term Deposit Certificate.
savings 1. Deposit Scheme & Customer Category
Lump sum principal deposited on value date
percent 2. Interest Rate & Deposit Horizon
Senior citizen bonus added automatically
gavel 3. Tax Deduction at Source (TDS Sec 194A)
badge 4. Bank & Account Holder Details
1. Deposit & Maturity Specification
| Deposit Specification | Value / Metric | Banking Standard / Basis |
|---|---|---|
| Initial Principal Invested | ₹5,00,000.00 | Term deposit opening principal |
| Deposit Tenure | 3 Years 0 Months | Value date to maturity date |
| Annual Interest Rate | 7.10% p.a. | Fixed rate locked for entire tenure |
| Compounding Frequency | Quarterly (4x/year) | Standard Indian Banking Association (IBA) rule |
| Total Accumulated Interest: | ₹1,17,890.00 | Gross interest generated |
| Total Maturity Disbursement Value: | ₹6,17,890.00 | Principal + Compounded Interest |
2. Annual Accrual & TDS Schedule
| Financial Year | Opening Principal (₹) | Interest Accrued (₹) | TDS (10%) | Closing Balance (₹) |
|---|
3. Income Tax & TDS Statutory Provisions
TDS is deducted under Section 194A @ 10% if total bank interest exceeds ₹40,000 (₹50,000 for Senior Citizens under Section 80TTB). Depositors with zero taxable income can submit Form 15G (General) or Form 15H (Senior Citizens ≥ 60) to receive interest without TDS.
Investor Guide: Bank FD Compounding, Section 80TTB & Form 15G/H
functions Quarterly Compounding Formula
Indian banks compound term deposit interest every quarter (every 3 months). The mathematical formula is: A = P × (1 + r / 400)^(4 × t). This compounding ensures your effective annual yield (APY) is always higher than the nominal interest rate.
elderly Section 80TTB Senior Citizen Relief
Under Section 80TTB, resident senior citizens (≥ 60 years) can claim a deduction of up to ₹50,000 on interest earned from bank fixed deposits and savings accounts. TDS threshold under Section 194A is also elevated to ₹50,000.
Frequently Asked Questions (FAQs)
What is the difference between Form 15G and Form 15H?
Form 15G is for individuals below 60 years whose total income is below the taxable exemption slab and whose total interest income does not exceed the basic exemption limit. Form 15H is exclusively for senior citizens (60 years or older) whose final tax liability for the year is Nil.
What rate of TDS applies if PAN is not submitted to the bank?
Under Section 206AA, if a depositor fails to furnish a valid PAN to the bank, TDS is deducted at a penal rate of 20.00% instead of the standard 10% rate, and TDS certificate Form 16A will not reflect in AIS/26AS.