SBI Bank FD Calculator
Calculate your compound interest.
Domestic Term Deposits for General Public (Below Rs. 2 crore)
| Tenors | Interest Rates for General Public |
|---|---|
| 7 days to 45 days | 2.90% |
| 46 days to 179 days | 3.90% |
| 180 days to 210 days | 4.55% |
| 211 days to less than 1 year | 4.60% |
| 1 year to less than 2 years | 5.45% |
| 2 years to less than 3 years | 5.50% |
| 3 years to less than 5 years | 5.60% |
| 5 years and up to 10 years | 5.65% |
Can there be negative returns on Mutual Funds?
Yes, there is always a risk of negative returns when investing in Mutual Funds. However, with some financial planning and assistance from experts, such situations
can be avoided.
Domestic Term Deposits for Senior Citizens Customers (Below Rs. 2 crore)
| Tenors | Interest Rates for General Public |
|---|---|
| 7 days to 45 days | 3.40% |
| 46 days to 179 days | 4.40% |
| 180 days to 210 days | 5.05% |
| 211 days to less than 1 year | 5.10% |
| 1 year to less than 2 years | 5.95% |
| 2 years to less than 3 years | 6.00% |
| 3 years to less than 5 years | 6.10% |
| 5 years and up to 10 years | 6.45% |
Domestic Bulk Term Deposits for General Public (Rs. 2 Crores and above)
| Tenors | Interest Rates for General Public |
|---|---|
| 7 days to 45 days | 3.50% |
| 46 days to 179 days | 4.25% |
| 180 days to 210 days | 4.50% |
| 211 days to less than 1 year | 5.00% |
| 1 year to less than 2 years | 6.00% |
| 2 years to less than 3 years | 5.25% |
| 3 years to less than 5 years | 5.25% |
| 5 years and up to 10 years | 5.00% |
Domestic Bulk Term Deposits for Senior Citizens Customers (Rs. 2 Crores and above)
| Tenors | Interest Rates for General Public |
|---|---|
| 7 days to 45 days | 4.00% |
| 46 days to 179 days | 4.75% |
| 180 days to 210 days | 5.00% |
| 211 days to less than 1 year | 5.50% |
| 1 year to less than 2 years | 6.50% |
| 2 years to less than 3 years | 5.75% |
| 3 years to less than 5 years | 5.75% |
| 5 years and up to 10 years | 5.50% |
Interest Rates for SBI Tax Savings Scheme For General Public
| Maturity Period | General Public FD interest rate (per annum) |
|---|---|
| 5 years | 5.65% |
Interest Rates for SBI Tax Savings Scheme For Senior Citizens Public
| Maturity Period | Senior citizen FD interest rate (per annum) |
|---|---|
| 5 years | 6.45% |
SBI WeCare Deposit for Senior Citizens
| Maturity Period | Senior citizen FD interest rate (per annum) |
|---|---|
| 5 years to 10 years | 6.45% |
SBI NRI FD Rates
NRO Fixed Deposit Interest Rates
| Tenors | Interest for deposits below Rs.2 Crore | Rs. 2 Crore & above |
|---|---|---|
| 7 days to 45 days | 2.90% | 3.50% |
| 46 days to 179 days | 3.90% | 4.25% |
| 180 days to 210 days | 4.55% | 4.50% |
| 211 days to less than 1 year | 4.60% | 5.00% |
| 1 year to less than 2 years | 5.45% | 6.00% |
| 2 year to less than 3 years | 5.50% | 5.25% |
| 3 years and up to 5 years | 5.60% | 5.25% |
| 5 years and up to 10 years | 5.65% | 5.00% |
NRE Fixed Deposit Interest Rates
| Tenors | Interest for deposits below Rs.2 Crore | Rs. 2 Crore & above |
|---|---|---|
| 1 year less than 2 years | 5.65% | 5.25% |
| 2 years to less than 3 years | 5.75% | 4.25% |
| 3 years to less than 5 years | 5.85% | 4.50% |
| 5 years and up to 10 years | 6.00% | 4.50% |
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SBI FD Calculator
SBI fixed deposits are secure investment avenues. Many individuals invest in fixed deposits to get stable returns at comparatively lower risk. State Bank fixed deposit offers one of the highest FD interest rates in India.
It can be helpful to determine the maturity amount and interest accrued before investing in fixed deposits. You can use online SBI FD calculators to accurately calculate the FD interest amount at maturity. Let’s find out more about SBI fixed deposit and online FD calculating tools.
SBI Fixed Deposit (FD) Calculator
The SBI fixed deposit interest rate ranges between 3.00% and 6.25% for general citizens for investment below ₹2 crore. On the other hand, senior citizens are eligible for an additional 0.50% interest. So, they can avail a minimum of 3.50% and a maximum of 7.25% interest rate on the SBI fixed deposits.
Considering variations in interest rates as per the tenure and complex calculation procedures, it can be quite hectic to compute the result manually. So, you can use an SBI fixed deposit calculator for an error-free result without any hiccups. This online tool can calculate the accurate interest amount instantly when provided with necessary inputs.
How does the SBI FD Calculator Work?
SBI fixed deposit calculator is a simple tool that can be used following these easy steps:
1. Enter an investment amount on the “Total Investment” box
2. Drag the cursor to draw a purple line until reaching the desired tenure, or enter the number of years in the box provided
3. Finally, enter the interest rate and check the right side of the page
4. It will display the “Estimated Return”, and “Total Value” received against your FD investment
You can change the figures according to the variations in deposit amount, interest rate and tenure to calculate multiple results.
Fixed deposit interest is calculated in two ways: compound interest and simple interest.
In case of compound interest the formula is:
A = P (1 + r/n) ^ n
In this formula, “A” represents the FD maturity amount
“P” denotes your fixed deposit investment amount
“r” implies the annual SBI fixed deposit rate of interest
“n” stands for the frequency of compounding interest
“t” represents the investment term or tenure
While using an SBI FD calculator, you need to enter the right investment amount, tenure and interest rate to calculate an accurate interest amount.
Let’s take an example to understand the calculation procedure precisely:
So, we can assume a fixed deposit investment of ₹10,000 for 5 years at an annual interest rate of 7%.
As per the formula:
A = 10,000 (1 + 7%/1) ^ 1×5
A = ₹14,148.
So, the interest amount is A – P, i.e., 14,148-10,000 = ₹4,148
In case of simple interest, this formula is used:
M= P+ (PXRXT/100)
Here M is the maturity amount, P is the investment amount, T is tenure of investment and R is rate of interest.
Benefits of An Online SBI FD Calculator
Some notable benefits of the SBI FD calculator include the following:
- It offers an easy and fast calculation procedure without any risk of miscalculation.
- The SBI fixed deposit interest rate varies according to the investment tenure. So, you can compare the interest rates levied for different investment terms and select a suitable one.
- This free online tool helps plan investment goals in a hassle-free way.
- This tool is completely free and can be used any time anywhere. You don’t need to provide any personal details or sign up.
Upstox SBI bank fixed deposit calculator is an excellent tool that helps determine the interest and maturity amount of your fixed deposit investments. Besides, it features a user-friendly interface to enhance user experiences. If you are planning to invest in SBI FD, use this online tool to get a clear estimate of your returns and plan accordingly.
Frequently Asked Questions
What is the highest interest rate on SBI FD?
SBI offers the highest interest rate of 6.75% for general citizens investing less than ₹2 crore.
What is the minimum amount of investment for FDs under SBI?
You can start investing in SBI fixed deposits with an investment amount of as low as ₹1000.
Do we have a premature withdrawal facility on SBI FD?
SBI fixed deposits can be withdrawn before maturity by paying a penalty as per the bank’s regulations.
What is the penalty for early withdrawal in SBI FD?
SBI charges a penalty of 0.50% for early withdrawal of FDs up to ₹5 lakhs.
In how many years has FD doubled in the SBI?
Using the rule of 72, you can calculate the number of years it will need to double SBI fixed deposit amount. You need to divide 72 by the rate of interest levied on your investment amount. For instance, if the interest amount for your FD amount is 6.40%, it will take (72/6.40) 11.25 years to double your deposit amount.
Can a customer open a term deposit account online in SBI?
Customers having internet banking accounts can open a term deposit account online.
Can new customers open an FD online? If not, how can they do so?
No, new customers cannot open an FD online. They need to have an internet banking account to open a fixed deposit online.
Can I deposit an extra amount into an already existing FD?
No, it is not possible to deposit an additional amount into an already existing FD account. However, one can open a term deposit account to invest the money.
Can I close an SBI fixed deposit account online?
Yes, you may close an SBI FD account online before its maturity period by entering the bank’s website and following the instructions under the “Fixed Deposit” tab.
Does SBI provide an auto-renewal facility for fixed deposits?
SBI offers an auto-renewal facility if you wish to extend the deposit tenure. In this case, you can renew the deposit for the same period as the original deposit.
Who are eligible to open an SBI Fixed Deposit Account?
Any Indian citizen can open an SBI fixed deposit account by visiting the nearest branch or from the official website.
What is the lock-in period for Tax Saving Scheme?
The lock-in period for SBI Tax Saving Scheme is 5 years.
Are there any special rates for senior citizens?
Yes, senior citizens can avail an additional 0.50% interest on their fixed deposit interest rates.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.