How this works
Fixed Deposit maturity uses the same compound-growth math as a lumpsum investment, with a senior-citizen premium (commonly 0.5% extra) added automatically if you check that option — banks typically offer that bump as a fixed additional rate, not a different formula.
Common questions
Is 0.5% the standard senior citizen bonus everywhere?
It's a common figure, not universal — some banks offer more, some less, and it can vary by tenure. Check your specific bank's rate card and adjust the premium here if it differs.
Does this account for TDS on FD interest?
No — it shows the gross maturity value before tax. FD interest is taxable as per your income slab, and banks deduct TDS above a threshold, both of which this calculator doesn't factor in.