SBI FD Calculator 2024

The SBI FD calculator is an online financial tool that allows you to calculate the maturity amount on a Fixed Deposit (FD) Scheme in the State Bank of India (SBI). It provides an estimate of the amount that you will get once the FD matures. The SBI Fixed Deposit Calculator uses information, such as the investment amount, applicable rate of interest, tenure, and the frequency of interest calculation, to arrive at the maturity amount. Let us learn about the SBI FD Calculator 2024 in detail.

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Disclaimer: *The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.1% rate of return is for an 18 years old, healthy male for a policy term of 20 years and premium term of 10 years with Rs.10,000 monthly installment premium. All plans listed here are of insurance companies’ funds.

SBI FD Calculator

Total Investment

₹

₹500 ₹30L

Enter Total Investment

Rate of Interest (Yearly)

1% 15%

Rate of Interest (Yearly)

Time Period

Years

1 Year 15 Years

Enter Time Period

Total Investment

Interest Earned

Maturity Amount

TENURE	REGULAR RATES Current Rates	SENIOR CITIZEN
7 days to 45 days	3.50%	4.00%
46 days to 179 days	5.50%	6.00%
180 days to 210 days	6.25%	6.75%
211 days to less than 1 year	6.50%	7.00%
1 year to less than 2 year	6.80%	7.30%
2 years to less than 3 years	7.00%	7.50%
3 years to less than 5 years	6.75%	7.25%
5 years and up to 10 years	6.50%	7.50%
400 days (Amrit Kalash)	7.10%	7.60%
444 days (Amrit Vrishti)	7.25%	7.75%

The SBI Fixed Deposit or FD Schemes are a risk-free and guaranteed return investment option. These schemes allow you to invest your savings and earn attractive SBI FD interest rates until the maturity of your deposits.

The maturity amount earned from the SBI FD rates can be calculated periodically using an SBI Fixed Deposit Calculator. Moreover, the State Bank of India provides higher FD rates to senior citizens as compared to the general public.

How Can SBI Fixed Deposit Calculator Help You?

SBI offers you a range of fixed deposit schemes. You should invest in an FD scheme that best suits your investment purpose and maturity goals. The FD interest rates varies according to the maturity period selected. The SBI offers fixed deposits for a minimum tenure of 7 days to a maximum of 10 years.

The SBI FD calculator can be helpful for you in the following ways:

Estimate Maturity Amount – The SBI fixed deposit calculator helps you to get an idea of the maturity amount you will get at the end of your FD tenure. This helps you to choose the FD scheme that provides a maturity amount closest to your expectations.
Determine FD Tenure – The SBI FD calculator can help you ascertain which FD tenure is most beneficial. You can use the SBI FD interest rates calculator to determine which FD tenure will help you earn the maximum returns.
Plan Investment Goals – It also helps you to easily plan your short-term as well as long-term investment goals. You can check the maturity amount for various tenures using the SBI FD calculator and decide which scheme will help you achieve your investment goals.
Greater Accuracy - The results of an SBI fixed deposit calculator are more accurate than manual calculations. Thus, it helps you to get a more accurate idea of the maturity amount so that you can invest in an FD accordingly.
Saves Time – You can save a lot of time by using an SBI FD calculator, as you don’t have to visit the Bank to find out the maturity amount.

How Does an SBI FD Calculator 2024 Work?

Note: The value of ‘n’ is ‘1’ if the interest is compounded annually, ‘2’ if compounded half-yearly, ‘4’ if compounded quarterly and ‘12’ if compounded monthly.

Illustration of Maturity Amount Calculation:

A person wants to invest Rs 1 lakh in a State Bank of India FD account for 3 years at an interest rate of 7% compounded half-yearly. In this case,

P = Rs 1 lakh
r = 7%
n = 2
T = 3

Therefore, if you apply the formula, it comes to A = 1,00,000 (1+7%/2)^2*3, and the maturity amount equals Rs 1,22,925 at the end of 3 years.

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How to Use Policybazaar SBI Fixed Deposit Calculator?

The SBI FD calculator can be used effortlessly on policybazaar.com. All you need to do is follow the simple steps mentioned below for hassle-free use of the SBI FD calculator:

Step 1: Go to the SBI FD calculator on policybazaar.com.

Step 2: Enter the following details in the calculator:

Amount you want to invest
FD tenure
Applicable SBI FD interest rates

Step 3: Choose if you are a senior citizen or not.

Step 4: Submit the details by clicking on ‘Calculate’.

The SBI Fixed Deposit Calculator will automatically display the maturity amount you will earn from your FD amount.

Advantages of Using Policybazaar SBI Fixed Deposit Calculator

The SBI FD calculator on Policybazaar provides you with the following benefits:

Accuracy: The calculator uses the latest SBI FD interest rates to provide accurate maturity amounts.
Ease of use: The SBI Fixed Deposit calculator is simple and straightforward to use, even for beginners.
Flexibility: The calculator allows you to compare different FD options from SBI, including different tenures, interest rates, and compounding frequencies.
Transparency: The SBI FD calculator shows you all of the inputs and outputs so that you can understand how the maturity amount is calculated.
Free of cost: The FD calculator is free to use.

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What will be the FD interest rates of SBI in 2024?

The SBI FD interest rates in 2024 are mentioned in the table below:

Tenure	Regular Citizens	Senior Citizens
7 days to 45 days	3.00%	3.50%
46 days to 179 days	4.50%	5.00%
180 days to 210 days	5.25%	5.75%
211 days to less than 1 year	5.75%	6.25%
1 year to less than 2 years	6.80%	7.30%
2 years to less than 3 years	7.00%	7.50%
3 years to up to 10 years	6.50%	7.00%
400 days (Amrit Kalash)	7.10%	7.60%

What is the interest rate for SBI FD 2024 444 days?

The interest rate for SBI FD 2024 444 days is 6.80% p.a. for general customers and 7.30% p.a. for senior citizens. However, you can avail of the high fixed deposit-interest rates of 7.10% p.a. for general customers and 7.60% for senior citizens for the FD tenure of 400 days under the Amrit Kalash Scheme of SBI.
Can I add nominees to the SBI FD account?

Yes, you can add nominees to your SBI FD account. A nominee is a person who is designated to receive the proceeds of your FD in the event of your death.
Can I take a loan against the money available in the FD account?

Yes, you can take a loan of up to 90% of your deposits available in your SBI FD account. This is called a loan against FD.
What are the various SBI FD interest payment options?
The State Bank of India provides the following FD interest payment options:
- Periodic interest payment option - Under this method, the SBI Bank will credit the interest earned at each periodic interval to your bank account.
- Cumulative interest payment option - Under this method, the SBI Bank will credit the total returns on your principal amount and the interest earned to your bank account only on maturity.
In how many years will my FD in SBI double?

To know when will your SBI FD double up, you can use the rule of 72. Under this rule, the number ‘72’ is divided by SBI FD interest rate applicable on your FD. The result is the number of years that it will take for your SBI FD to double up.
For example, if you are getting an interest rate of 7% on your fixed deposit in SBI, then as per the rule of 72, 72/7 = 10.2. Thus, it will take you a little more than 10 years to double your FD amount.
What is the minimum amount I need to invest to open an FD in SBI?

You can invest a minimum of Rs 1,000 to open a fixed deposit in the State Bank of India.
What is the maximum amount I can invest in an SBI fixed deposit?

You can invest as much money as you want in an SBI FD account as there is no maximum investment limit.
Can I withdraw my FD in SBI Bank before maturity?

Yes. You can withdraw your fixed deposit in SBI Bank prematurely. However, a penalty charge will apply and you will receive your money after deducting the penalty charge.
What is the penalty charge for premature withdrawal of an SBI fixed deposit?

The SBI Bank will charge a penalty of 0.50% on your FD investment amount if it is less then Rs 5 lakh. The penalty charge will increase to 1% of your investment amount if it is of Rs 5 lakh to up to Rs 1 crore.

FD Interest Rates
SBI FD Interest Rates	HDFC FD Interest Rates
ICICI FD Interest Rates	Axis Bank FD Interest Rates
Canara FD Interest Rates	Yes Bank FD Interest Rates
Kotak Mahindra FD Interest Rates	Bandhan Bank FD Interest Rates
Union Bank of India FD Interest Rates	Indusind Bank FD Interest Rates
PNB FD Interest Rates	Bank of Baroda FD Interest Rates
IDFC Bank FD Interest Rates	Indian Bank FD Interest Rates
RBL Bank FD Interest Rates	UCO Bank FD Interest Rates
Karnatka Bank FD Interest Rates	Bank of India FD Interest Rates
IDBI Bank FD Interest Rates	Central Bank of India FD Interest Rates
Bank of Maharashtra FD Interest Rates	Citi Bank FD Interest Rates
Allahabad Bank FD Interest Rates	Indian Overseas Bank FD Interest Rates
Andhra Bank FD Interest Rates	Corporation Bank FD Interest Rates
DBS Bank FD Interest Rates	Syndicate Bank FD Interest Rates
Dena Bank FD Interest Rates	Vijaya Bank FD Interest Rates
State Bank of Travancore FD Interest Rates	State Bank of Mysore FD Interest Rates
State Bank of Hyderabad FD Interest Rates

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

* Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy male of 18 years old paying Rs. 30,000/- monthly (exclusive of all applicable taxes)

** Fixed deposit rate applicable for 5 year's 1 day to 10 years for investment amount less< 2 Crore ( Not for senior citizens).

*** PPF interest rate applicable for 15 years for investment amount upto 1.5 Lac

+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023

#Discount offered by insurance company

## The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.1% rate of return is for an 18 years old, healthy male for a policy term of 20 years and premium term of 10 years with Rs.10,000 monthly installment premium. All plans listed here are of insurance companies’ funds.

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