TheFreeTool

SBI FD Calculator

Type in how much you want to put in a fixed deposit, the yearly rate and how long you will keep it. You will see the interest you earn and the amount you get back at maturity.

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Good to know

Independent calculator, not made or approved by State Bank of India. Rates change, so type the one your bank shows. Results are estimates and exclude TDS and tax.

What it does

  • Maturity amount and interest in rupees
  • Quarterly compounding, the usual bank method
  • Change to monthly, half-yearly or yearly
  • Works for any bank's FD, not only SBI

How to use it

  1. Enter the deposit amount.
  2. Enter the interest rate from your bank's rate card and the tenure in years.
  3. Pick how often interest is added, then read the maturity amount.

How is FD maturity worked out?

Indian banks usually add FD interest to your deposit every quarter, and the next quarter earns interest on that larger amount. This is compound interest. The calculator uses the formula A = P × (1 + r/n)^(n×t), where P is the deposit, r the yearly rate, n the number of times interest is added each year and t the years.

Banks change FD rates often, and senior citizens usually get a little extra. Type the rate your bank shows for your tenure. Tax is not taken out here. Interest on an FD is taxable, and the bank may cut TDS above a yearly limit.

Example

₹1,00,000 for 3 years at 6.5% with quarterly compounding grows to about ₹1,21,341. The interest is about ₹21,341.

Questions people ask

Is this calculator made by SBI?
No. It is an independent tool. We use the same maths banks use, but your bank's own figure is the final one.
Why does my bank show a slightly different amount?
Banks may count days instead of whole quarters or round differently. A small gap of a few rupees is normal.
Does it include TDS?
No. TDS and income tax depend on your total income, so they are not taken out.

Disclaimer

This tool is for general information only. It is not financial, tax, investment or legal advice, and results are estimates that may differ from your bank, lender or tax authority. Rates, limits and tax rules change. Bank and brand names are used only to describe what the tool does; they belong to their owners and we are not affiliated with them. Check the figures with a qualified professional or your provider before you decide. You use this tool at your own risk, and TheFreeTool is not liable for any loss that follows. Read the full disclaimer

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