As mentioned earlier, income earned by interest is fully taxable. It is a free and easy tool that computes the compound interest for a fixed deposit on the basis of principal deposit amount, interest rate and the deposit duration.
The periodicity of the interest paid for a fixed deposit depends on your preference. Fixed deposit interest calculator computes the interest earned by a fixed deposit using the following components.
Basis Recurring Deposit Term Generally, fixed deposit schemes are offered for 7 days - 10 years. It is formulated on the basis of deposit amount and tenure. The fixed deposit account holder will have to pay a penalty, however.
Another thing that you can consider while choosing the deposit tenure is the interest rate regime. For FD maturity between 6 months to less than one year, Bandhan Bank offers 6. On FDs maturing in years, the bank is offering a 7.