Senior citizen FD interest, monthly or quarterly, with the extra rate added
Estimates only, not financial advice. What you type stays on your device. Updated on 25 Oct 2026.Most banks pay depositors aged 60 and over an extra quarter to three-quarters of a percentage point, and many retired depositors take the interest monthly to live on. This page starts with both: the senior rate switched on and a monthly payout. ₹10 lakh at 7.5% pays ₹6,211 a month. Change the extra to your bank’s and see the monthly and total figures.
| Deposit | Monthly at 7.5% | Quarterly at 7.5% |
|---|---|---|
| ₹1 lakh | ₹621 | ₹1,875 |
| ₹5 lakh | ₹3,106 | ₹9,375 |
| ₹10 lakh | ₹6,211 | ₹18,750 |
| ₹25 lakh | ₹15,528 | ₹46,875 |
| ₹50 lakh | ₹31,056 | ₹93,750 |
| ₹1 crore | ₹62,112 | ₹1,87,500 |
Interest paid every month at 7.5% a year (including the +0.5% senior citizen rate); a month is 1/12 of a year and a day 1/365. Before tax.
Estimates for information only, not financial advice. The rate is what you enter; banks count actual days, so their figure can differ by a few rupees.
| Period | Interest paid | Total interest | Deposit |
|---|---|---|---|
| Year 1 | ₹7,453 | ₹7,453 | ₹1,00,000 |
| Year 2 | ₹7,454 | ₹14,907 | ₹1,00,000 |
| Year 3 | ₹7,453 | ₹22,360 | ₹1,00,000 |
| Year 4 | ₹7,454 | ₹29,814 | ₹1,00,000 |
| Year 5 | ₹7,453 | ₹37,267 | ₹1,00,000 |
Turn on Senior citizen, then set the "Extra rate for senior citizens" your bank quotes.
Enter the Deposit amount and the regular Interest rate; the extra rate is added on top.
The page opens with interest paid Every month; switch to Every quarter or "Added to the deposit" to match your FD.
Read "Interest paid every month" and the Total interest, then press Share result.
The FD calculator works out what a bank fixed deposit pays. Enter the amount, the rate your bank quotes and the tenure in years, months and days. For a cumulative deposit you get the maturity value, the interest earned and the balance at the end of each year. For a payout deposit you get the interest paid to you every month or quarter and the total over the term.
Most Indian banks add interest to a cumulative FD every quarter. ₹1,00,000 at 7% for 5 years grows to about ₹1,41,478 with quarterly compounding, against ₹1,40,255 if interest were added only once a year. Senior citizens can switch on the extra rate their bank offers; the calculator adds it to the rate you enter and never assumes a bank's rate for you.
Sources: the Reserve Bank of India's directions on interest rates on deposits; the fixed deposit terms and rate cards published by banks, which state the compounding frequency and the senior citizen rate; the Income Tax Department for TDS on interest.
The rest of the article, and all 6 questions about FD Calculator, are on the FD Calculator page.
At 7% a year with interest added every quarter, ₹1,00,000 grows to about ₹1,41,478 in 5 years, so about ₹41,478 of interest. At 7.5% it would be about ₹1,44,995. Use the rate your bank quotes for that tenure, because rates differ by bank and by tenure.
Interest on a monthly payout deposit is earned quarterly but paid to you every month, which is ahead of time. Banks pay a discounted amount so the three monthly payments are worth one quarter's interest: monthly interest = P × r / (12 + r). ₹1,00,000 at 7% pays about ₹580 a month rather than ₹583.
Most banks offer senior citizens an extra rate on fixed deposits, but the amount varies by bank and tenure. Switch on the senior citizen option and enter the extra your bank quotes; the calculator adds it to the rate you entered. It does not assume any bank's rate.
Yes. FD interest is added to your income and taxed at your slab rate, and banks deduct TDS once the interest they pay you in a year crosses the limit in the income tax rules. The figures here are before tax. Confirm the current rules for your tax year before relying on them.
Formula only: no rates or limits are read from an official source.
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