Online Fixed Deposit FD Calculator
Calculate your investment maturity amount and interest earned with Indian banking quarterly compounding standards instantly.
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Save hours every week. Import purchase invoices, sales bills, and bank statements directly into Tally in 1-click.
💡 In India, standard commercial banks compound fixed deposit interest on a quarterly basis. Even if a customer opts for monthly payout or cumulative interest, the base growth rate is compounded quarterly u/s rules.
How FD Interest Compounding Works
Fixed Deposits (FDs) are one of India's most popular low-risk saving instruments. When you deposit money, banks pay interest compounded quarterly. Under this method, the interest you earn in one quarter is added to your principal amount, and you earn interest on that accrued interest in subsequent quarters. The mathematical formula used for compound interest is:
Where P is the principal deposit amount, r is the annual interest rate expressed as a decimal, and t is the investment duration in years.
Section 80C & Tax-Saving FDs
Tax-saving fixed deposits offer deductions up to ₹1.5 Lakhs per financial year under Section 80C of the Income Tax Act. However, these tax-saver FDs come with a mandatory 5-year lock-in period. Premature withdrawals or loans against these deposits are strictly prohibited during the lock-in term. While the invested principal amount is deductible, the interest earned remains fully taxable.
TDS (Tax Deducted at Source) Rules on FD
The interest earned on fixed deposits is fully taxable under the head "Income from Other Sources" at your applicable slab rate. If your total interest income across all branches of a bank exceeds ₹40,000 in a financial year (or ₹50,000 for senior citizens), the bank deducts TDS:
- 10% TDS is deducted if you have submitted your PAN Card details to the bank.
- 20% TDS is deducted if the bank does not have your PAN details on record.
- If your total taxable income is below the taxable threshold, you can submit Form 15G (or Form 15H for senior citizens) to prevent banks from deducting TDS.
Why Choose a Fixed Deposit (FD)?
A Fixed Deposit is one of the safest financial assets available in India. By locking in a lump sum for a specific tenure at a guaranteed interest rate, you protect your capital from market volatility while earning stable returns. Unlike mutual funds or equity shares, your principal remains 100% secure.
1. Guaranteed Returns
The interest rate agreed upon at the time of deposit remains constant throughout the tenure, regardless of any changes in market rates or RBI policy.
2. DICGC Insurance Cover
Every depositor in scheduled commercial banks is insured up to a maximum of ₹5,000,000 (including principal and interest) by the DICGC, a subsidiary of the RBI.
FD Maturity Value Computation Example
If you deposit ₹5,00,000 in a commercial bank for a period of 5 years at an interest rate of 7.0% p.a.:
| Investment parameters | Value Details |
|---|---|
| Principal Deposited | ₹5,00,000 |
| Rate of Interest | 7.0% p.a. |
| Compounding Rests | Quarterly (4 times/year) |
| Estimated Interest Earned | +₹2,07,389 |
| Final Maturity Value | ₹7,07,389 |
Frequently Asked Questions
Everything you need to know about TrulyInvoice for Tally Prime.
On clear digital PDF invoices, TrulyInvoice achieves approximately 96% field-level extraction accuracy based on internal benchmarks. Accuracy on handwritten or low-resolution scanned invoices is approximately 88-90%. Our review-first workflow ensures you catch and correct any AI omissions before they reach Tally.
TrulyInvoice differs from Suvit in three specific ways: (1) Bulk upload support — TrulyInvoice processes multi-file batches at once vs Suvit's 10-invoice cap. (2) Transparent monthly plans starting at ₹399/month for 1,000 pages (Lite), ₹599 for 2,000 pages (Plus), and Custom High Volume Plans vs Suvit's annual subscription model. (3) Multi-user team seating (up to 3 seats) sharing a single voucher quota. Suvit includes broader module coverage like GST filing that TrulyInvoice focuses on purely as a dedicated invoice-to-Tally engine.
Yes. TrulyInvoice's AI extracts data from handwritten invoices, PDFs, scanned images, and multi-page documents. It's trained on diverse Indian invoice formats including handwritten text.
Setup is typically quick: sign up, enable Port 9000 in Tally settings, install the connector, and test with a sample invoice.
TrulyInvoice supports common GST scenarios and can help map interstate (IGST) and intrastate (CGST+SGST) flows based on invoice and ledger data.
TrulyInvoice supports PDF invoices, JPG/PNG images, scanned documents, and handwritten invoices. It works with GST invoices, purchase bills, and sale invoices from any Indian vendor.
Yes. TrulyInvoice works with Tally running on your local computer. Enable Port 9000 in Tally settings (F1 > Settings > Connectivity) and the connector handles the rest. No cloud hosting required.
TrulyInvoice automatically creates missing ledgers and stock items in Tally. You can also create them manually in Tally and click Refresh to sync.
Yes. Invoices are encrypted in transit and at rest. The Tally sync happens on your computer — data never leaves your network during the sync process.
TrulyInvoice processes most invoices in 15-30 seconds from upload to Tally sync. This includes AI extraction, your review, and the actual sync. A single user can process 100+ invoices in under an hour with the review-first workflow.
TrulyInvoice includes a mandatory review step before syncing. You can edit any field the AI extracted. Additionally, mathematical validation checks if amount equals quantity multiplied by rate, flagging potential calculation errors automatically before they reach Tally.
No technical expertise required. Setup involves three simple steps: enable Port 9000 in Tally settings (F1 > Settings > Connectivity), download the connector app, and sign in. Most users complete setup in under 5 minutes. Phone and WhatsApp support is available if needed.
Yes. You can upload up to 20 invoices per batch upload (PDFs, scans, or photos). The system processes them sequentially with 99%+ accurate AI extraction, and you can review and sync them individually or in batches to Tally Prime.
TrulyInvoice creates both Purchase and Sales vouchers in Tally. It supports standard GST scenarios including intra-state (CGST+SGST) and inter-state (IGST) transactions. The system auto-maps GST rates and creates appropriate ledgers based on your invoice data.
Yes. TrulyInvoice includes a free 14-day trial with instant signup — no credit card required. Plans start at ₹399/month for Lite (1,000 pages) and ₹599/month for Plus (2,000 pages, 2 seats) after your trial ends. No hidden costs.
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TrulyInvoice automates your complete invoice workflow and syncs directly to Tally Prime.
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Upload Invoice
Drag & drop PDFs, scans, or photos.
AI Extraction
Line items, tax, and ledgers mapped.
1-Click Review
Verify extracted details on dashboard.
Direct Sync
Vouchers created instantly in Tally Prime.