TDS a bank deducts on FD interest each year, with PAN or without, and what you keep
Estimates only, not financial advice. What you type stays on your device. Checked against sources on 30 Oct 2026.Banks deduct TDS of 10% on fixed deposit interest once a year's interest at that bank exceeds ₹50,000, or ₹1,00,000 for a senior citizen. Without a PAN the rate is 20%. Enter the deposit, rate and tenure to see the TDS in each year and the interest you keep.
₹23,144
Deducted in 3 of 3 years at 10%An estimate. Treats each deposit year as one tax year; not tax advice.
| Year | Interest | Total at this bank | TDS | You keep |
|---|---|---|---|---|
| 1 | ₹71,859 | ₹71,859 | ₹7,186 | ₹64,673 |
| 2 | ₹77,023 | ₹77,023 | ₹7,702 | ₹69,321 |
| 3 | ₹82,557 | ₹82,557 | ₹8,256 | ₹74,301 |
TDS applies when the total at this bank is above ₹50,000, and then on the whole of the interest. Maturity before TDS: ₹12,31,439.
FY 2026-27 · Rates and rules read from the sources listed on this page (the earliest on 30 Oct 2026); they may have changed since.
Enter the Deposit amount, the bank's Interest rate and the Tenure in years.
Add the "Yearly interest from other deposits at this bank", since the limit counts all your deposits there.
Set "Aged 60 or more", "Bank has my PAN" and "Form 121 given to the bank" to match your case.
Read the TDS, Interest after TDS and Largest deposit with no TDS; the rates follow the Finance Bill listed under Sources.
A bank must deduct income-tax at source from the interest it pays on deposits once that interest crosses a yearly limit. This calculator works out the interest your fixed deposit earns in each year, adds the interest from your other deposits at the same bank, and shows whether TDS applies, how much, and what reaches you.
The limits. Under section 393(1) of the Income-tax Act, 2025, a bank deducts tax when a year's interest exceeds ₹50,000, or ₹1,00,000 for a resident aged 60 or more. These limits rose from ₹40,000 and ₹50,000 on 1 April 2025. Above the limit, tax is deducted on the entire interest, not only on the part above it. With core banking the limit counts every branch of the bank together, so two deposits in different branches add up.
The rate. The rate in force is 10% for a resident individual. If the bank does not have your PAN, section 397 raises it to 20%.
The declaration. If the tax on your estimated income for the year is nil, you can give the bank a declaration and it will not deduct. From 1 April 2026 this is Form 121, which replaced Forms 15G and 15H. Below 60, the form is not valid once the year's interest and similar income exceed the basic exemption limit.
What TDS is not. TDS is an advance payment of your tax, not an extra tax. It appears in Form 26AS and is set against the tax you owe on your return; if too much was deducted, the return gets it refunded. Interest is taxable whether or not TDS was deducted.
This page does not work out your income-tax, does not model a deposit that starts mid-year, and assumes each deposit year is one tax year. The interest uses the same method as the FD Calculator, and the rate you enter should include any senior citizen extra your bank pays.
Banks deduct TDS once the interest you earn at that bank in a tax year exceeds ₹50,000, or ₹1,00,000 if you are 60 or older. These limits apply from 1 April 2025 and are in section 393(1) of the Income-tax Act, 2025. The limit counts all your deposits at the same bank together.
Ten percent of the interest for a resident individual who has given the bank a PAN, and 20% without a PAN. Once the year's interest crosses the limit, the bank deducts on the whole interest, not only the part above the limit. On ₹71,859 of interest, TDS is ₹7,186.
From 1 April 2026, Forms 15G and 15H were replaced by a single Form 121 under the Income-tax Rules, 2026. Giving the bank Form 121 stops TDS when the tax on your estimated total income for the year is nil. Below 60, the form is not valid once such income passes the basic exemption limit.
No. TDS is tax paid in advance on your behalf. The amount shows in Form 26AS and your annual information statement, and is set against the tax you owe when you file your return. If more was deducted than you owe, the return claims the difference back as a refund.
Yes. Banks deduct TDS each year on the interest that accrues, even when a cumulative deposit pays nothing until maturity. The bank usually recovers it from the deposit or a linked savings account, which lowers the maturity amount a little. This calculator shows the TDS for each year of the deposit.
For a bank on core banking, which covers every large bank, yes: the limit applies to your total interest across all branches. Only a bank without core banking counts each branch separately. Enter the yearly interest from your other deposits at the same bank so the calculator can apply the limit correctly.
Rates and rules change; check the source before you rely on a figure.
Still stuck? Ask about FD TDS Calculator and anybody who knows can answer. No account needed.
Same job, other tools: 80D Calculator – Health insurance deduction for you and your parents, with the senior-citizen limits · 80C Calculator – How much of the ₹1.5 lakh 80C limit your EPF, PPF, ELSS and insurance already use.
On the related tools: GST Inclusive Calculator – Split a price that already includes GST into value and tax.
More for India: all 48 India calculators.