SBI RD Calculator

SBI RD Calculator

The SBI RD Calculator helps you estimate the maturity value and interest earned on your monthly deposits in a State Bank of India (SBI) Recurring Deposit (RD). Whether you’re saving for short-term needs or future financial goals, this tool helps you plan your monthly contributions with clarity and precision.

What Is an SBI RD?

A Recurring Deposit (RD) with SBI allows you to deposit a fixed amount every month for a chosen tenure and earn interest at a guaranteed rate. It is suitable for individuals who prefer low-risk, disciplined savings with assured returns.

Key Features

• Tenure: 12 to 120 months (1 to 10 years)
• Minimum deposit: ₹100 per month
• Deposit multiples: ₹10 and above
• Interest rate: 6.50% to 7.10% p.a. (as of Q1 FY 2024–25; higher for senior citizens)
• Compounding frequency: Quarterly
• Taxation: Interest is taxable; TDS applies if interest exceeds ₹40,000 (₹50,000 for senior citizens)

How the SBI RD Calculator Works

Inputs Required

• Monthly deposit amount
• RD tenure (in months or years)
• Applicable interest rate

Formula Used

Maturity Value = P × [(1 + r/n)nt – 1] / (1 – (1 + r/n)–1/3)

• P: Monthly deposit
• r: Annual interest rate (in decimal)
• n: Number of compounding periods per year (4 for quarterly)
• t: Time in years

Output Provided

• Total amount invested
• Interest earned
• Maturity value at the end of the tenure

Example

If you invest ₹5,000 per month in an SBI RD for 3 years at an interest rate of 6.8% p.a.:

• Total investment = ₹1.8 lakh
• Interest earned ≈ ₹20,900
• Maturity amount ≈ ₹2.01 lakh

Benefits of Using the SBI RD Calculator

• Instant Estimation: Know your future savings instantly
• Goal-Based Planning: Align RD maturity with your financial targets
• Flexible Use: Modify deposit or tenure to suit your plan
• Bank-Aligned: Uses SBI-specific interest rates and compounding method

Disclaimer : The results given by the above calculator are for illustration purpose only. They are often based on a number of assumptions. The results given are in no way any guarantee of the returns that will be given. Investments in stock markets and securities markets are subject to market risks and other risks. There is no guarantee of the return that will be actually given. Investment in other financial products may also be subject to market risks and other risks. There is no guarantee of the returns that will be given by them. The calculator also does not make any recommendation directly or indirectly. Please consult a registered Financial Advisor before taking any investment decision.