About the FD TDS Impact Calculator
What is the FD TDS Impact Calculator?
Banks deduct TDS (tax deducted at source) on fixed deposit interest once it exceeds a yearly threshold per bank. From 1 April 2025 the threshold is ₹50,000 for most depositors and ₹1 lakh for senior citizens. TDS is 10% if you have given your PAN and 20% if you have not.
Enter your total FDs with the bank, the rate, whether you are a senior citizen, whether PAN is linked and your tax slab. This FD TDS calculator shows the interest for the year, the TDS, your actual tax and the balance to pay or refund to claim.
How to use the FD TDS Impact Calculator
- Total FD Amount with the Bank (₹) (sample: 8,00,000)
- Interest Rate (% per year) (sample: 7.5)
- Senior Citizen (60+)? (sample: No)
- PAN Submitted to the Bank? (sample: Yes)
- Your Income Tax Slab (sample: 20%)
- Press Calculate TDS (results also refresh as you type). The result card shows the TDS Deducted This Year, along with Interest earned this year, TDS threshold (per bank, per year), Your actual tax on this interest and Balance tax to pay.
Formula used
TDS = Interest × 10% (20% without PAN), if Interest > Threshold
- Interest = FD amount × ((1 + r ÷ 4)⁴ − 1)
- Threshold = ₹50,000, or ₹1,00,000 for senior citizens
- Actual tax = Interest × slab × 1.04
The threshold applies per bank to total interest across all your deposits with it in a financial year.
Worked example
These are the sample values already filled in the calculator above, and the result it returns for them:
| Input | Sample value |
|---|---|
| Total FD Amount with the Bank (₹) | 8,00,000 |
| Interest Rate (% per year) | 7.5 |
| Senior Citizen (60+)? | No |
| PAN Submitted to the Bank? | Yes |
| Your Income Tax Slab | 20% |
| Result | Value |
|---|---|
| TDS Deducted This Year | ₹6,171 |
| Interest earned this year | ₹61,709 |
| TDS threshold (per bank, per year) | ₹50,000 |
| Your actual tax on this interest | ₹12,835 |
| Balance tax to pay | ₹6,665 |
| Form 15G / 15H | Not applicable – your income is taxable |
Tips for using the FD TDS Impact Calculator
- If your total income is below the taxable limit, submit Form 15G (below 60) or 15H (60+) at the start of the year.
- TDS appears in Form 26AS and your Annual Information Statement — claim it when filing your return.
- Splitting deposits across banks avoids TDS but not tax; interest is still taxable.