Lock in your savings and see exactly how much you'll earn. Works for SBI, HDFC, ICICI, Axis, Post Office FD and all Indian banks.
Formula: A = P × (1 + r/n)^(n×t) where P is principal, r is annual rate, n is compounding frequency, t is years.
Most Indian banks use quarterly compounding, which gives you slightly more than yearly compounding for the same rate. Post Office Term Deposits typically compound annually.
TDS: Banks deduct 10% TDS if interest exceeds ₹40,000 per year (₹50,000 for senior citizens). You can file Form 15G/15H to avoid TDS if your total income is below the taxable limit.