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State Bank of India (SBI) FD Interest Rate Calculator

State Bank of India (SBI) FD online calculator will help you calculate the interest that your money will earn when kept in a fixed deposit in State Bank of India (SBI). This will give the details of investment that's the principal amount on maturity after the interest is compounded on days or a monthly, quarterly, half-yearly and yearly basis. To learn about how your fixed deposit earns interest and how much will be your earning at the end of the tenure chosen, Goodreturns online calculators will help you.

State Bank of India (SBI) Fixed Deposit Interest Rates

State Bank of India (SBI) fixed deposit is a great way to save money for a period of time, if you are looking at getting your invested money safely along with good returns on your investment, then fixed deposit is the way to go. Checking the State Bank of India (SBI) fixed deposit interest rate and making the decisions is now very easy.


For domestic deposits - Less than Rs. 1 cr [ Revised on : 28-05-2018 ]

Maturity Period Deposit Amount Interest Rate
General Senior Citizen
7 days to 45 days Less than Rs. 1 cr 5.75 6.25
46 days to 179 days Less than Rs. 1 cr 6.25 6.75
180 days to 210 days Less than Rs. 1 cr 6.35 6.85
211 days to less than 1 year Less than Rs. 1 cr 6.40 6.90
1 year to less than 2 year Less than Rs. 1 cr 6.65 7.15
2 years to less than 3 years Less than Rs. 1 cr 6.65 7.15
3 years to less than 5 years Less than Rs. 1 cr 6.70 7.20
5 years and upto 10 years Less than Rs. 1 cr 6.75 7.25

For domestic deposits - Above Rs. 10 cr [ Revised on : 28-03-2018 ]

Maturity Period Deposit Amount Interest Rate
General Senior Citizen
7 days to 45 days Above Rs. 10 cr 5.75 6.25
46 days to 179 days Above Rs. 10 cr 6.70 7.20
180 days to 210 days Above Rs. 10 cr 6.70 7.20
211 days to less than 1 year Above Rs. 10 cr 6.75 7.25
1 year to less than 2 year Above Rs. 10 cr 7.00 7.50
2 years to less than 3 years Above Rs. 10 cr 6.75 7.25
3 years to less than 5 years Above Rs. 10 cr 6.65 7.15
5 years and upto 10 years Above Rs. 10 cr 6.25 6.75

For domestic deposits - Rs. 1 cr to 10 crs [ Revised on : 28-03-2018 ]

Maturity Period Deposit Amount Interest Rate
General Senior Citizen
7 days to 45 days Rs. 1 cr to 10 crs 5.75 6.25
46 days to 179 days Rs. 1 cr to 10 crs 6.70 7.20
180 days to 210 days Rs. 1 cr to 10 crs 6.70 7.20
211 days to less than 1 year Rs. 1 cr to 10 crs 6.75 7.25
1 year to less than 2 year Rs. 1 cr to 10 crs 7.00 7.50
2 years to less than 3 years Rs. 1 cr to 10 crs 6.75 7.25
3 years to less than 5 years Rs. 1 cr to 10 crs 6.65 7.15
5 years and upto 10 years Rs. 1 cr to 10 crs 6.25 6.75

For NRO Fixed Deposit - Less than Rs. 1 cr [ Revised on : 28-05-2018 ]

Maturity Period Deposit Amount Interest Rate
7 days to 45 days Less than Rs. 1 cr 5.75
46 days to 179 days Less than Rs. 1 cr 6.25
180 days to 210 days Less than Rs. 1 cr 6.35
211 days to less than 1 year Less than Rs. 1 cr 6.40
1 year to less than 2 year Less than Rs. 1 cr 6.65
2 years to less than 3 years Less than Rs. 1 cr 6.65
3 years to less than 5 years Less than Rs. 1 cr 6.70
5 years and upto 10 years Less than Rs. 1 cr 6.75

For NRO Fixed Deposit - Above Rs. 10 cr [ Revised on : 28-03-2018 ]

Maturity Period Deposit Amount Interest Rate
7 days to 45 days Above Rs. 10 cr 5.75
46 days to 179 days Above Rs. 10 cr 6.70
180 days to 210 days Above Rs. 10 cr 6.70
211 days to less than 1 year Above Rs. 10 cr 6.75
1 year to less than 2 year Above Rs. 10 cr 7.00
2 years to less than 3 years Above Rs. 10 cr 6.75
3 years to less than 5 years Above Rs. 10 cr 6.65
5 years and upto 10 years Above Rs. 10 cr 6.25

For NRO Fixed Deposit - Rs. 1 cr to 10 crs [ Revised on : 28-03-2018 ]

Maturity Period Deposit Amount Interest Rate
7 days to 45 days Rs. 1 cr to 10 crs 5.75
46 days to 179 days Rs. 1 cr to 10 crs 6.70
180 days to 210 days Rs. 1 cr to 10 crs 6.70
211 days to less than 1 year Rs. 1 cr to 10 crs 6.75
1 year to less than 2 year Rs. 1 cr to 10 crs 7.00
2 years to less than 3 years Rs. 1 cr to 10 crs 6.75
3 years to less than 5 years Rs. 1 cr to 10 crs 6.65
5 years and upto 10 years Rs. 1 cr to 10 crs 6.25

For NRE Fixed Deposit - Less than Rs. 1 cr [ Revised on : 30-01-2018 ]

Maturity Period Deposit Amount Interest Rate
1 year Less than Rs. 1 cr 6.25
1 year to 455 days Less than Rs. 1 cr 6.25
456 days to less than 2 years Less than Rs. 1 cr 6.25
2 years to less than 3 years Less than Rs. 1 cr 6.00
3 years to less than 5 years Less than Rs. 1 cr 6.00
5 years and upto 10 years Less than Rs. 1 cr 6.00

For NRE Fixed Deposit - Above Rs. 10 cr [ Revised on : 30-01-2018 ]

Maturity Period Deposit Amount Interest Rate
1 year Above Rs. 10 cr 6.25
1 year to 455 days Above Rs. 10 cr 6.25
456 days to less than 2 years Above Rs. 10 cr 6.25
2 years to less than 3 years Above Rs. 10 cr 6.00
3 years to less than 5 years Above Rs. 10 cr 6.00
5 years and upto 10 years Above Rs. 10 cr 6.00

For NRE Fixed Deposit - Rs. 1 cr to 10 crs [ Revised on : 30-01-2018 ]

Maturity Period Deposit Amount Interest Rate
1 year Rs. 1 cr to 10 crs 6.25
1 year to 455 days Rs. 1 cr to 10 crs 6.25
456 days to less than 2 years Rs. 1 cr to 10 crs 6.25
2 years to less than 3 years Rs. 1 cr to 10 crs 6.00
3 years to less than 5 years Rs. 1 cr to 10 crs 6.00
5 years and upto 10 years Rs. 1 cr to 10 crs 6.00

Different types of Fixed Deposit Available with State Bank of India

  • Fixed Deposit
  • Recurring Deposit
  • Tax Saving Fixed Deposit
  • SBI Multi Option Deposit Scheme (MODS)

The fixed deposit can be opened offline by visiting as well as online. To open fixed deposit online, the customer should be a registered for net banking.

Individuals can open fixed deposit with as low as Rs 1000 and there is specified a limit on the maximum amount. However, for an amount, more than Rs 50,000 Pan Card number should be available with the bank.

Fixed deposit tenure

Interest rates vary with tenure of the fixed deposit. Minimum tenure to open a fixed deposit is 7 days and maximum up to 10 years. State Bank's deposits interest rates range from 5.25% - 7.25% per annum depending on the tenure which is compounded quarterly. While interest rate changes for the amount of Rs 1 crore and above. Usually, the interest rate will be below the regular interest rate.

NRI fixed deposit

NonResident Indians can open fixed deposit with SBI where they can deposit rupee and foreign currency. If the deposit amount is up to Rs 5 lakhs, there will be no penalty levied for withdrawal after one year. For deposits up to Rs 1 crore and above no interest is payable if it is withdrawn before one year of deposit.

For NRO fixed deposit, interest is not payable if the deposit is withdrawn before 7 days. For deposit up to Rs 5 lakhs, no penalty will be levied for premature, provided it has remained with the bank for at least 7 days.

Taxation

Tax deducted at source will be applicable where the interest earned on the fixed deposit is above Rs 10,000. The amount will be deducted 10% on interest income, where PAN number is available with the bank. In absence of PAN details, TDS will be applicable at 20% on interest income.

Difference between Interest payout and reinvestment option

While booking fixed deposit there will be an option to choose the interest payout option. Individuals have to make a choice on how frequently interest should be paid from under interest payment option- monthly, quarterly and yearly and other option is reinvestment option where the interest earned is added to the principle and will be paid along with maturity.

Important to Check Overall Yields

Calculators help you to check overall interest rates yields. For example, with the calculator above, you can check the overall maturity value including the yield. So, all you need to do is enter the time period and the interest rates to easily get the maturity value of your FD. SBI interest rates on FDs have dropped dramatically, which has made it imperative to check the overall yields. Remember that if you are checking interest, the yields turn higher because of the law of compounding, hence it becomes necessary to check the yields. Most banks compound interest rates once every three months, or as they say quarterly compounding. State Bank of India has dropped interest rates on deposit rates and the yields have fallen, hence it is necessary to check the overall yields with the help of the calculator. Do not forget that these are with the tax liability on these deposits.

Feeding in Correct Data in FDs of SBI Calculator

If you wish to get the correct maturing FDs amount with the correct interest and principal amount on the calculator, you must put the correct data. Most of the calculators may fail to see the correct yield, unless there is a correct awareness on the time period for compounding. For example, in the case of the banks the compounding of the interest rates is done every quarter. In the case of non banking finance companies the yields after calculating the FD rates may not be high, as the compounding may happen on a half yearly basis or may happen annually. Every FD calculator, including the SBI FD calculator must take this into account before arriving at the final figure. The yields can vary and in some cases dramatically based on the data.

What is Compound Interest? How to calculate using an SBI FD Interest rate Calculator?

Compound Interest means the interest which we get after adding the interest on the initial deposit and also the accumulated interest of the specified period. Here the specified period means every bank gives some specified time like quarterly, half yearly or on an annual basis for the interest rate to get compounded.

For making things easy, it is better to check the FD interest rate using an SBI FD Interest Rate Calculator. On goodreturns.in you can calculate the interest rate of not only SBI but also of various banks such as HDFC, ICICI, almost of all the banks. If you visit the fixed deposit interest rates page, you will find the details of every bank such as maturity period, interest rates for general and senior citizens. If you want to check the exact interest rate for the amount you have deposited better to visit the SBI FD Interest Rate Calculator page and check.

How FD interest rates are changed by SBI?

State Bank of India like most other banks reviews its own credit requirement, asset liability match and general movement in interest rates, before deciding on hiking or reducing the same. One of the big reasons to also move interest rates, depends in what the Reserve Bank of India does with the repo rates. These are the rates at which the country's central bank lends money to other banks in the country.

When these are hiked, most banks like SBI too raise their interest rates. This is how the country's largest bank, manages to either raise or hold FD interest rates steady. Generally, the SBI is a trend setter as far as rates are concerned. For individual investors it is important to compare the interest rates before placing money in bank deposits.

This help in ensuring maximum returns. Also, one must use the SBI deposit calculator to know exactly, how much returns one would fetch on deposits.

Deposit Limits

An individual has to maintain a minimum deposit amount of Rs 1000 in order to open an SBI Fixed Deposit Account. There is no maximum deposit limit as such and an individual can deposit any amount of money in the SBI Fixed Deposit Account as per their convenience.

Interest Payment

• The State Bank of India pays interest on the fixed deposits maintained by the customers at – Monthly, Quarterly, Calendar Quarter basis as per the requirements of the depositors.
• The senior citizens (individuals above 60 years) get an additional extra interest rate of 0.25% for the amount which is above Rs 10,000.

Premature Withdrawal

  • SBI Fixed Deposits comes with premature withdrawal facility. 
  • A penalty will be charged in case of premature withdrawal of a fixed deposit before it reaches the maturity period.
  • For Retail Term Deposits up to Rs 5 lakhs, the penalty charge of 0.05% will be levied.
  • For Retail Term Deposits which are more than Rs 5 lakhs and below Rs 1 crore, a penalty charge of 1% will be levied.

What is an Interest Rate?

Interest rate stands for the amount charged or expressed as a percentage of principal by a lender (an individual who lends) to a borrower (an individual who borrows) for the use of assets. The interest rates are usually calculated on an annual basis and it is also known as the annual percentage rate (APR). The nature of assets borrowed can range from consumer goods, cash, building, vehicles, ornaments and so on.

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