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Fixed Deposit (FD) Bank Comparison Calculator

Enter your deposit amount and tenure. The comparison tool ranks major Indian public sector banks, private banks, and the Post Office side-by-side using official rate circulars and quarterly compounding.

On a ₹5,00,000 fixed deposit for 3 years, Axis Bank yields ₹6,17,538 at 7.1%, earning ₹6,341 more total interest than the lowest-yielding bank.

Deposit parameters

Compare maturity value and interest across verified bank rate schedules.

₹

Total lump sum you intend to place in fixed deposits.

🏛️
Verified bank & post office rates

Rates are benchmarked against official interest circulars for domestic deposits (< ₹3 Cr) verified as of 2026-10-01. Compounding follows the standard quarterly convention.

Highest maturity payout

₹6,17,538

Axis Bank at 7.1%

Max interest spread

₹6,341

Gain between Axis and SBI

Bank-by-bank comparison for 3 years

Sorted from highest to lowest maturity yield.

BankRateInterestMaturity
AxisTop
Axis Bank
7.1%
Yield: 7.29%
+₹1,17,538₹6,17,538
Post OfficeSovereign
Post Office Time Deposit
7.1%
Yield: 7.29%
+₹1,17,538₹6,17,538
HDFC
HDFC Bank
7%
Yield: 7.19%
+₹1,15,720₹6,15,720
ICICI
ICICI Bank
7%
Yield: 7.19%
+₹1,15,720₹6,15,720
Kotak
Kotak Mahindra Bank
7%
Yield: 7.19%
+₹1,15,720₹6,15,720
PNB
Punjab National Bank
7%
Yield: 7.19%
+₹1,15,720₹6,15,720
SBI
State Bank of India
6.75%
Yield: 6.92%
+₹1,11,196₹6,11,196
Interest is compounded quarterly. Rates subject to bank revisions. Senior citizen benefits apply to residents 60+.

Highest maturity

₹6,17,538

Axis (7.1%)
What it is:
A comparison engine benchmarking retail fixed deposits across major Indian institutions.
What it calculates:
The comparative maturity proceeds, total interest earned, effective yield, and rate spread across lenders.

Key Assumptions

  • Rates apply to domestic retail deposits below ₹3 Crore.
  • Interest is compounded quarterly across all institutions.
  • Deposits are held until full maturity without premature liquidation.

How it works

Fixed deposit interest rates in India vary significantly between lenders, tenure buckets, and depositor categories (general vs senior citizen).

All Indian commercial banks and the Department of Posts compute cumulative term deposit maturity using quarterly compounding as per standard regulatory guidelines.

Senior citizens (aged 60 and above) typically receive a preferential interest rate premium of 0.50% to 0.75% per annum across most tenure buckets.

Under DICGC (Deposit Insurance and Credit Guarantee Corporation), bank deposits are insured up to ₹5 Lakhs per depositor per bank, while Post Office Time Deposits carry an unlimited sovereign guarantee from the Government of India.

Formula

M = P x (1 + r / 400)^(4 x t) | Yield = [(1 + r / 400)^4 - 1] x 100

M
= maturity payout in rupees
P
= principal deposit amount
r
= annual interest rate in percent
t
= tenure in years

Standard IBA and Post Office quarterly compounding convention.

Example calculation

₹5,00,000 for 3 years across major banks and Post Office

Deposit amount
₹5,00,000
Highest yield bank
Axis (7.1%)
Highest maturity payout
₹6,17,538
Lowest maturity payout
₹6,11,196
Difference between highest and lowest
₹6,341

Frequently asked questions

Which bank currently offers the highest FD interest rate in India?
FD rates vary by tenure and bank category. For 2-to-3-year tenures, leading private banks (like Axis Bank, ICICI Bank, and HDFC Bank) and Post Office Time Deposits currently offer between 7.00% and 7.15% for general depositors and up to 7.60% for senior citizens. Small finance banks and NBFCs frequently quote higher headline rates, though with different risk and insurance profiles.
How does Post Office Time Deposit compare to Bank FDs?
A 5-year Post Office Time Deposit currently offers 7.50% per annum with an unlimited sovereign guarantee from the Government of India and qualifies for tax deduction under Section 80C. Bank FDs carry a ₹5 Lakh DICGC insurance guarantee per bank and bank rates for 5 years generally range between 6.50% and 7.00%.
Is FD interest taxed the same way across all banks?
Yes. Fixed deposit interest is fully taxable as 'Income from Other Sources' at your applicable income tax slab rate. Banks deduct 10% TDS under Section 194A if total deposit interest across branches exceeds ₹40,000 in a financial year (₹50,000 for senior citizens), unless Form 15G or 15H is furnished.
Can I split my deposits across multiple banks to maximize safety?
Yes. Under DICGC guidelines, each depositor is insured up to ₹5,00,000 (principal plus accrued interest) separately in each registered commercial bank. Splitting deposits across multiple scheduled commercial banks ensures full insurance coverage while taking advantage of each institution's best tenure rate.

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Further reading

ICICI Bank FD Interest Calculation: Slabs, Compound Interest & Tenure Guide

Calculate ICICI Bank Fixed Deposit returns across 1 to 5 years. Understand quarterly compounding formula, Golden Years FD for seniors, and pre-closure terms.

Read article
Axis Bank FD Interest Calculation: Rates, Compounding Formula & Senior Benefits

Calculate Axis Bank Fixed Deposit maturity values and interest yields across 1 to 5 years. Learn quarterly compounding, senior citizen rates, and TDS rules.

Read article
SIP vs Lumpsum: Which Actually Ends Up Ahead?

On the same money and the same return, a lumpsum wins on arithmetic. Why a SIP is still the right answer for most people in India.

Read article
Why Your PPF Deposit Date Changes Your Maturity Value

PPF pays interest on the lowest balance between the 5th and month end. Depositing a day late costs you a month's interest, every month.

Read article

Authoritative Sources

Reviewed by Pradipta Ray, Editor · Updated