Most Indian banks add FD interest every quarter, so you earn a little more than the quoted yearly rate. This calculator also uses quarterly compounding.

Yes. FD interest is added to your income and taxed at your slab rate. If your yearly interest crosses the set limit, the bank deducts TDS; if you owe no tax you can submit Form 15G or 15H.

Most banks pay people over 60 about 0.25% to 0.75% more. Check your bank’s actual rate.

Yes, but most banks pay slightly lower interest if you withdraw early. Tax-saving FDs have a 5-year lock-in.