SBI RD Calculator

The SBI RD Calculator is a tool provided by the State Bank of India to help customers calculate the maturity amount for their Recurring Deposit (RD) account. It is a convenient and reliable way for SBI RD account holders to plan their savings and make informed decisions about their investments.

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7.7 Crore

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Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

SBI RD Calculator

Monthly Investment

₹500 ₹1L

Enter Monthly Investment

Rate of Interest (Yearly)

1% 10%

Rate of Interest (Yearly)

Time Period

1 Year 10 Years

Enter Time Period

Total Investment

Interest Earned

Maturity Amount

The rate of interest may differ from bank to bank and decided by the bank only. But what if you can calculate Recurring deposit ROI on your own? Yes, it is possible with the help of RD Calculator

Let us learn in detail about the SBI Recurring Deposit Calculator in this article.

What is an SBI RD Calculator?

SBI RD interest rate calculator is an online financial tool to help you in determining the maturity returns and interest earned from your investment in a Recurring Deposit Account.

An RD is a type of savings account where the customer deposits a fixed amount of money every month for a fixed tenure, and earns interest on it.

It considers the following factors to calculate your potential SBI RD returns:

Amount of your monthly deposits
Tenure of the deposit
Applicable SBI RD interest rates

Why Use SBI Recurring Deposit Calculator?

Several reasons can answer your query of why it is important to use the SBI RD Calculator. Major reasons are as follows:

SBI RD Calculator provides accurate calculations
Helps you to plan your savings and investments better
Enables them to set a realistic investment goal and understand how much they need to save each month to achieve it
Allows you to compare the maturity value of different RD schemes offered by the bank
A quick and easy tool that saves your time in calculating the maturity value of your investment manually
By using the RD Calculator, customers can make informed decisions about their investments

How to Use Online SBI RD Calculator?

The investor has to follow the below-mentioned simple procedure to calculate SBI RD interest rate returns through the online SBI RD Calculator:

Step 1: Open the Policybazaar SBI RD Calculator

Step 2: Select the following details in the calculator

Monthly recurring deposit amount
Tenure of your SBI RD investment
Valid SBI RD interest rates

Step 3: The SBI Recurring Deposit Calculator will display the following details immediately:

Total investment during the tenure
Interest earned on SBI RD interest rates
Maturity returns

Recurring Deposit Interest Formula

An investor can also compute the maturity value manually with the help of the SBI RD calculation formula mentioned below:

Illustration:

If you deposit Rs. 2,000 monthly in SBI RD
For a period of 2 years
At an SBI RD interest rate of 7% p.a.

Maturity amount= 2000 [(1+7*8] - (8*2) – 1)]

= Rs. 51,640

Plan smarter with our SIP Calculator.

Advantages of SBI RD Calculator

The main advantages of using an RD Calculator are:

Save time and energy
Easy to use
Gives accurate results
Offers instant comparisons between 2 or more bank RD interest rates
Provides the right estimation of returns so that the future can be planned accordingly

Wrapping It Up

The SBI RD Calculator is a valuable tool provided by the State Bank of India to help customers calculate the maturity value of their Recurring Deposit (RD) account. It helps customers make informed decisions about their investments.

The SBI RD Calculator is a user-friendly, time-saving, and reliable tool that assists customers in managing their finances effectively.

RD (Recurring Deposit) Calculators

RD Calculator

Canara Bank RD Calculator

Axis Bank RD Calculator

ICICI Bank RD Calculator

HDFC Bank RD Calculator

Yes Bank RD Calculator

Post Office RD Calculator

FAQ's

How is RD calculated in SBI?

The recurring deposit (RD) calculation in SBI is based on a fixed formula that takes into account the deposit amount, tenure, and interest rate.
The formula used by SBI to calculate the maturity value of an RD account is:
Maturity Amount = P * [(1 + r/n)^(n*t) - 1]
Wherein:
P = Monthly deposit amount
r = Rate of interest per annum (as a decimal)
n = Number of times interest is compounded in a year (usually quarterly)
t = Tenure of the RD in years

What are RD rates in SBI?

The table for SBI RD interest rates is as follows:

Tenure	RD Interest Rate (% p.a.)	RD Interest Rates for Senior Citizens (% p.a.)
1 Year - <2 years	6.80% p.a.	7.30% p.a.
2 years - <3 years	7.00% p.a.	7.50% p.a.
3 years - <5 years	6.50% p.a.	7.00% p.a.
5 years - 10 years	6.50% p.a.	7.50%* p.a.

*Including additional 0.50% special FD interest rates u/ “SBI We-Care” FD Scheme.

What is the rate of RD for 2 years?

The RD interest rates for a tenure of 2 years are as follows:

Bank Name	RD Interest Rates for General Public
State Bank of India (SBI)	7.00%
Punjab National Bank (PNB)	5.10%
Post Office RD	6.20%
ICICI Bank	7.10%
HDFC Bank	7.00%
Axis Bank	7.20%

What is the best RD rate in SBI?

SBI offers the highest interest rate of 7% p.a. for a tenure of 2 years to less than 3 years.

†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

Past 10 Years' annualised returns as on 01-12-2024

^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.

Tax benefit is subject to changes in tax laws. Standard T&C Apply
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%

¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.

**Returns are based on past 10 years’ fund performance data (Fund Data Source: Value Research).