Fixed deposit double scheme is an investment option offered by banks and financial institutions that allows investors to grow their money by 2X over a fixed period through compound interest. The scheme works by providing investors with a fixed interest rate on their investment, which is compounded annually or at a predetermined interval.

Guaranteed Plan
(By Insurance companies)Fixed Deposit
(Offered by Banks)Savings Account
(Post Office)Fully Tax-Free, Life Cover Included
Fixed Deposit Double Scheme helps investors grow their money by two times (double). It works by regularly reinvesting the interest accumulated from the initial FD amount. It further leads to an increase in the principal amount and ultimately results in a higher return on investment.
Under this scheme, an investor can choose a specific tenure ranging from a few months to years. The interest rate offered depends on the bank and the prevailing FD interest rates.
Here is a table illustrating the investment and interest earned in a Money Double Scheme over a period of 5 years:
| Year | Starting Principal | Interest Earned | Total Interest Earned | Ending Principal |
| 1 | Rs. 1,00,000 | Rs. 8,000 | Rs. 8,000 | Rs. 1,08,000 |
| 2 | Rs. 1,08,000 | Rs. 8,640 | Rs. 16,640 | Rs. 1,16,640 |
| 3 | Rs. 1,16,640 | Rs. 9,331.20 | Rs. 25,971.20 | Rs. 1,25,971.20 |
| 4 | Rs. 1,25,971.20 | Rs. 10,077.76 | Rs. 36,048.96 | Rs. 1,36,048.96 |
| 5 | Rs. 1,36,048.96 | Rs. 10,883.92 | Rs. 46,932.88 | Rs. 1,46,932.88 |
As you can see, the interest earned at the end of each year is reinvested, compounding to a higher maturity amount. By the end of the 5-year tenure, the investor's initial deposit of Rs. 1 lakh has grown to Rs. 1,46,932.88 with a total interest earned of Rs. 46,932.88.
Note: This is only a sample compounding illustration, not an actual “double” scheme outcome.
Here's a table showing the key differences between a Fixed Deposit Double Scheme and a Normal Fixed Deposit Scheme:
| Key Difference | Money Double Scheme | Regular Fixed Deposits |
| Interest Rate | Higher interest rate compared to the Normal FD Scheme | Lower interest rate compared to the Fixed Deposit Double Scheme |
| Interest Payment | Interest is paid at maturity along with the principal amount | Interest can be paid periodically or at maturity |
| Maturity Amount | Double the investment amount | Fixed |
| Benefits | Provides higher returns compared to the Normal FD Scheme | Offers lower returns compared to the Fixed Deposit Double Scheme, but provides more flexibility and liquidity |
| Risk Level | Low | Low |
The main difference between the two schemes is that in the Fixed Deposit Double Scheme, the maturity amount is double the investment amount. While in a regular fixed deposit scheme, the maturity amount remains fixed with consistent interest rates.
Money Double Scheme is better for investors who want to maximise their returns, especially if they are looking to invest for a longer tenure.
A Fixed Deposit Double Scheme is an investment plan offered by banks and financial institutions. Under this scheme, you deposit a fixed sum for a defined tenure, and the amount grows with compounding interest to approximately double by maturity.
Here are some of the benefits the Money Double Scheme offers:
The FD Double Scheme offers compounding at existing FD interest rates than normal FDs. Some banks also offer extra rates to senior citizens investing in the scheme. The FD calculator online tool can be used to analyse the fixed deposit returns.
Money Double Scheme provides fixed returns, which means you know how much you will earn at the end of the tenure. This is especially beneficial for risk-averse investors who do not want to invest in volatile investments such as stocks or mutual funds.
The FD Double Scheme is not affected by fluctuations in the market, which means you do not have to worry about market risks. The returns are fixed, and you can be assured of getting your principal amount back at the end of the tenure.
Money Double Scheme offers flexibility in terms of investment tenure. You can choose the period best suited to your financial goals between 6 to 10 years.
The interest income from the FD Double Scheme is treated as “income from other sources” under the Income Tax Act, 1961. These deposits do not provide any tax benefit under Section 80C. TDS is deducted at 10% if the annual interest exceeds ₹50,000 for general citizens and ₹1,00,000 for senior citizens. If the PAN is not submitted, the TDS rate increases to 20%.
Double Deposit Scheme in India offers investors the opportunity to double their investment over a certain period, typically ranging from 5 to 10 years.
Here is a list of banks in India that offer double deposit schemes:
These schemes are popular among investors with a low-risk appetite who look to generate a guaranteed return on investment.
Here is a list of Money Double Schemes available in India:
The following table shows the prevailing fixed deposit interest rates offered by major banks in India for general citizens and senior citizens:
| Bank FD Names | General (% p.a.) | Senior Citizens (% p.a.) |
| State Bank of India FD | 3.05 to 6.05 | 3.55 to 7.05 |
| HDFC Bank FD | 2.75 to 6.15 | 3.25 to 6.65 |
| ICICI Bank FD | 2.75 to 6.60 | 3.25 to 7.10 |
| IDBI Bank FD | 3.00 to 4.80 | 3.50 to 5.30 |
| Kotak Mahindra Bank FD | 2.75 to 6.25 | 3.25 to 6.75 |
| RBL Bank FD | 3.50 to 6.70 | 4.00 to 7.20 |
| KVB Bank FD | 4.00 to 6.25 | 7.05 to 6.65 |
| Punjab National Bank FD | 3.00 to 6.00 | 3.50 to 6.80 |
| Canara Bank FD | 3.25 to 6.25 | 3.25 to 6.75 |
| Axis Bank FD | 3.00 to 6.60 | 3.50 to 7.35 |
| Bank of Baroda FD | 3.50 to 5.50 | 4.00 to 6.00 |
| IDFC First Bank FD | 3.00 to 6.00 | 3.50 to 6.50 |
*FD interest rates as of September 2025.
The Fixed Deposit Double Scheme is a lucrative investment option offering attractive returns to investors. It is a low-risk investment that provides a fixed interest rate over a specified tenure. With the FD Double Scheme, investors can rest assured that their investment will yield good returns while also providing stability and security. Apart from that, bank fixed deposits with highest returns can also be a possible option for investment.