MoneyLens · Deposits
Your deposit, explained.
A bank FD, a recurring deposit, a tax-saver FD, or a deposit with an NBFC or housing finance company: whether the maturity amount is right, what you keep after tax, how much TDS to expect, how much is insured, and what breaking it early costs, worked out by code from your own receipt.
Maturity checkedReturn after taxDeposit insurance
Check your depositPrivate
For an RD, the account advice or passbook page. Certificates are often password-protected: Myra uses the password once and forgets it.
Or see a sample: which kind of deposit?
Open the sample report →Account numbers are kept as the last 4 digits only. Myra never asks for your PAN, net-banking password or an OTP. Once a document is read you can delete it and keep only the figures.
What you see first
Your deposit, at a glance.
Fixed deposit · Bank
Receipt14 Aug
At maturity
₹9,88,060
on 14 Aug 2027
Deposited
₹8,00,000
at 7.10% a year
Yield after tax
5.21%
estimate at a 30% slab
Insured today
₹5,00,000
₹5,83,095 above the cover
73% of the term run297 days to maturity
A fixed deposit of ₹8,00,000 with Tapti Bank Ltd at 7.10% a year, growing to about ₹9,88,060 by 14 Aug 2027. Bank deposits are insured up to ₹5,00,000 per bank. Interest is taxed at your slab every year it's earned.
Myra's most important observations
Six questions, answeredSample: bank FD · Tapti Bank Ltd
Q1What will I get at maturity?₹9,88,060matches the receiptQ2What's the real return after tax?5.21%a year, after tax at 30% · estimateQ3How much TDS will be deducted?₹6,109FY 2025-26 · threshold ₹50,000Q4Is my money insured?₹5,83,095 isn'ttoday · up to ₹5,00,000 per bankQ5What does breaking it early cost?1% penaltyoff the rate for the time heldQ6What can Ask Myra help me with?4 answers readyCited from your documents
What Myra finds
In rupees, from the documents.
On the samples: money you may be owed, could save, or have at risk. Each figure is a finding's own, with its calculation and source; options are never added together.
01 · Maturity and real return
What you keep, after tax and inflation.
Move the amount, rate, tenure and your slab. A lump sum or a monthly RD. Free, no sign-in.
Maturity & real return
Prefilled from Deposit receipt p.1, Deposit · Deposit receipt p.1, Rate · Deposit receipt p.1, Maturity
₹8,00,000
7.10%
3 yrs
30%
5%
At maturity
₹9,88,060₹1,88,060 interest on ₹8,00,000
Yield a year, after tax
5.20%7.28% before tax · 0.19% after inflation
Assumptions & limits. 7.10% a year, compounded quarterly on whole periods, with simple interest on any days left over (the usual Indian bank method). Tax at 30% is on the interest; it's due every year as the interest is earned, even on a cumulative deposit. Inflation at 5% a year is an assumption, not a forecast.
02 · On every deposit
Eight checks, one report.
Each one runs only when your documents support it, cites the line it used, and says what's still to confirm.
— 01The maturity amount, rebuiltCompounding on whole quarters and simple interest on the days left over, against the figure on the receipt.
Sample: Bank FDOpen →
— 02What you keep after taxThe yearly yield with compounding, and after tax at your slab: what different deposits really pay, side by side.Sample: NBFC depositOpen →
— 03TDS, and 20% without PANThe year's threshold for your payer, 10% above it, and a deduction that looks like 20%: flagged, with a ready email.Sample: Bank FDOpen →
— 04How much is insuredUp to ₹5 lakh per bank, principal and interest, counting your other deposits there. NBFC deposits: not at all.Sample: Bank FDOpen →
— 05An NBFC's rating and RBI's limitsRated investment grade, a 12 to 60-month tenure, and a rate within RBI's ceiling.Sample: NBFC depositOpen →
— 06Breaking it earlyA bank's rate for the time held less the disclosed penalty; an NBFC's 3-month lock and lower rate after.Sample: NBFC depositOpen →
— 07A missed RD instalmentThe bank's charge for each month an instalment is late, and what it does to the maturity amount.Sample: Recurring depositOpen →
— 08Tax-saver lock-inLocked for 5 years, can't be borrowed against, and the deduction only in the old regime.Sample: Tax-saver FDOpen →
03 · Deposit insurance
Is all of it covered?
A total spread across banks: what each holds at maturity, and how much sits above the ₹5 lakh cover.
Spread across banks to stay insured
Prefilled from RBI deposit insurance
₹11,40,000
3 banks
7.10%
3 yrs
In each bank after 3 years
₹4,69,329all within the cover
Banks to keep it all covered
3at most ₹4,04,834 in each today
You told Myra you hold ₹1,50,000 more with this bank; it counts towards the same cover.
Assumptions & limits. Deposit insurance covers up to ₹5,00,000 per depositor per bank, principal and interest together, across all accounts in that bank (savings, FDs, RDs). Different banks count separately, and so do deposits held in a different capacity (for example, joint with someone else). Branches of one bank are the same bank. Deposits grow at 7.10% a year compounded quarterly for 3 years.
India-specific rules
Rules, not search results.
RBI's rules and the income-tax rules, applied by the date of your deposit and the kind of bank or company. Myra never calls a figure wrong without saying which rule and which line of your documents it used.
| Area | What Myra checks on your deposit |
|---|---|
| Deposit insurance | Up to ₹5 lakh per depositor per bank, principal and interest together, across savings, FDs and RDs. Covers commercial, small finance and co-operative banks; NBFC and housing-finance deposits aren't covered. |
| TDS on interest | From Apr 2025: above ₹50,000 a year from one bank (₹1 lakh for senior citizens), ₹10,000 from others; 10%, or 20% without a PAN. A declaration asks for no TDS when tax on your income is nil. |
| Breaking a bank FD | The rate for the period the deposit actually stayed, less a penalty only if it was disclosed when the deposit was made. |
| NBFC deposits | Only investment-grade rated companies; 12 to 60 months; rate capped by RBI. Not withdrawable in the first 3 months (except on death or in an emergency), no interest up to 6 months, then 2 points below. |
| Tax-saver FDs | Locked for 5 years, can't be pledged; deduction up to ₹1.5 lakh in the old tax regime only. |
| Interest and tax | Taxed at your slab every year it's earned, even when paid at maturity. Senior citizens get a deduction on deposit interest in the old regime. |
| Complaints | Banks and NBFCs: the RBI Ombudsman after 30 days. Housing finance companies: the National Housing Bank. |
Applied byDeposit dateBank, NBFC or housing finance companyThe deposit's own termsRule effective date
Ask Myra
Questions depositors actually ask.
Answered from your documents, with the line, the calculation and what's still unconfirmed. Drafts an email to the bank when one would help; you send it.
Bank FD
NBFC deposit
Recurring deposit
Know what your deposit really earns.
Personal deposits with banks, NBFCs and housing finance companies. Company (corporate) FDs and post office deposits aren't covered. The samples use invented banks and companies.