SBI FD Calculator

Investing early can expand your wealth exponentially. It's not necessary to start with a lump sum amount. With facilities like fixed deposits, you can invest a small amount and let it grow over the course of time.

State Bank of India (SBI) offers Term Deposit facility that comes with competitive rates, no maximum deposit limit, liquidity in the form of overdraft, and premature withdrawal. A safe investment option, you can keep the account running for 10 years.

You can earn interest monthly, quarterly, or calendar quarter as per your requirement. Though you can opt for premature withdrawal, remember that a penalty of 0.50% will be imposed for deposits of up to Rs.5 lakh. For deposits more than Rs.5 lakh, but less than Rs.1 crore, a penalty of 1% will be charged.

For immediate cash requirements, the facility allows you to opt for a loan or overdraft of up to 90% of the principal amount.

Before making a decision to invest in an FD, it is always wise to calculate the maturity value that you will get. To compute this amount, there are various factors that need to be considered. First, let us take a look at the various factors influencing maturity amount.

Factors affecting maturity amount:

  • The amount/principal invested
  • FD Interest Rate
  • Tenure of deposit
  • Interest computation frequency
  • Taxation

SBI Fixed Deposit Calculator

An FD calculator is used to calculate the total maturity amount by feeding in the required data. To calculate the total amount due to the customer after the completion of the deposit tenure, the data required is the principal amount, rate of interest, compounding frequency and the time period for which the deposit is held.

For example, if an investment of Rs.1 lakh is made for 1 year at the rate of 6.25% p.a., the maturity value will approximately add up to 1,06,250. Here the total interest earned on the principal will be Rs.6,250 p.a. The interest has been compounded annually.

On the other hand, if the interest is computed on a quarterly basis for the same principal, rate of interest and tenure, the total interest earned will be Rs.6,398 and the maturity value will be 1,06,398.

Also, please note that if you go for a cumulative FD, the maturity amount and interest will be paid at the end of the tenure. However, in case of a non-cumulative FD, the interest is paid at regular periods of time, say monthly, quarterly or half-yearly.

SBI Fixed Deposit Interest Calculator

You can estimate the value of returns for an FD scheme using the SBI FD calculator .

Follow these steps to use the calculator:

  • Visit the official SBI website.
  • Enter the principal amount and annual interest rate.
  • Select the maturity period under 'Duration'.
  • Click on 'Calculate' to get the 'Interest Value' and 'Maturity Value'.

How to Calculate SBI Fixed Deposit Interest Rate

You can use an SBI FD calculator to calculate the returns on your investment. The process is relatively simple and easy. All you need to do is enter the principal amount, rate of interest, and duration. After that, hit "calculate" to view the maturity amount.

Here's an example. Suppose you have invested Rs.70,000 in your SBI FD account for a period of 4 years and 6 months. Here's a complete breakdown of how much you can earn throughout the tenure depending upon fd interest rates in SBI

Tenure

Rates (p.a.)

Maturity amount for Rs.70,000



7 days to 45 days

5.75%

Rs.70,494

46 days to 179 days

6.25%

Rs.72,161

180 days to 210 days

6.35%

Rs.72,583

211 days to less than 1 year

6.40%

Rs.74,575

1 year to less than 5 years

6.80%

Rs.91,671

At the end of your tenure, you can earn Rs.91,671, which is Rs.21,761 more than your initial investment amount.

So, if you want good returns on your investment, you can choose to open an SBI Term Deposit account.

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