TheFreeTool

SBI RD Calculator

A recurring deposit lets you save a fixed amount every month. Enter the monthly amount, the yearly rate and the number of years, and see what you will have at the end.

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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, total paid in and interest
  • Quarterly compounding, as Indian banks do
  • Any monthly amount and tenure
  • Good for any bank's RD, not only SBI

How to use it

  1. Enter the amount you will save each month.
  2. Enter the RD interest rate and the tenure in years.
  3. Read the maturity amount and the interest earned.

How does an RD grow?

Each monthly instalment earns interest from the day you pay it until maturity. The first instalment earns the longest and the last one earns the least. Interest is added every quarter, so the calculator adds up each instalment's growth separately and then totals them.

Banks set RD rates by tenure and change them often. Type the rate shown for your tenure. If you miss an instalment the bank may charge a small fine, which this tool does not include. Interest is taxable and TDS may apply.

Example

Saving ₹5,000 a month for 5 years at 6.5% gives about ₹3,54,954. You pay in ₹3,00,000, so the interest is about ₹54,954.

Questions people ask

Is this the same maths the bank uses?
It follows the usual method: monthly instalments with interest compounded every quarter. Your bank's exact figure can differ by a few rupees.
What if I pay late?
Late payment can bring a penalty and change the result. This calculator assumes every instalment is paid on time.
Can I use it for other banks?
Yes. Only the rate changes from bank to bank.

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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