Government small savings vs bank deposits
India offers a tiered landscape of savings products, from fully government-backed small savings schemes to bank fixed and recurring deposits. The interest rates on post office and NSI schemes — PPF, SSY, SCSS — are notified quarterly by the government and tend to be higher than equivalent bank products, but each comes with specific eligibility, lock-in and tax rules. Bank FDs and RDs offer more flexibility on tenure and amount but typically pay less, and their interest is fully taxable with TDS above the annual threshold.
The PPF calculator projects maturity over 15, 20 or 25 years with annual compounding — PPF is the workhorse long-term savings instrument, open to any resident Indian, with EEE tax status (exempt on deposit under 80C, exempt on interest, exempt on withdrawal). The SSY calculator models Sukanya Samriddhi Yojana's unique two-phase structure: 15 years of deposits followed by 6 years of compounding without further contributions, maturing when the girl turns 21. For senior citizens aged 60 and above, the SCSS calculator shows quarterly interest payouts on a lump-sum deposit — ideal for retirees who want regular income rather than reinvested growth.
Retirement planning with NPS
The National Pension System sits between pure savings and market-linked retirement planning. The NPS calculator estimates your corpus at retirement based on monthly contributions and assumed returns, then splits it into the mandatory annuity purchase (minimum 40% of corpus) and the tax-free lump sum you can withdraw (up to 60%). NPS contributions qualify for additional deductions under Section 80CCD(1B) — ₹50,000 beyond the ₹1.5 lakh 80C cap — and employer contributions under 80CCD(2), making it particularly attractive for high earners whose employers offer matching.
Bank FD and RD — flexibility with taxable returns
When you need a specific tenure, a specific rate from a specific bank, or want to model TDS impact on your interest, the FD calculator handles lump-sum deposits with any compounding frequency. The RD calculator does the same for monthly instalments — each deposit compounds quarterly for the months it remains on deposit, which is why the first month's instalment earns the most interest and the last earns the least.
All scheme rates reflect Q1 FY 2026-27 (April–June 2026) notified values and are updated when the government revises them each quarter. Every calculator shows its working — year by year where applicable — so you can verify the math rather than trusting a black box. Nothing you enter leaves your browser.