State Bank of India (SBI) is one of the leading public sector banks in India. It offers attractive interest rates on FDs up to 6.85%. Senior citizens can earn an additional benefit of 0.5% on SBI FD interest rates. A fixed deposit (FD) offered by SBI is a deposit account. It is for a fixed period and applies a fixed rate of interest.
You can deposit a fixed amount in this account. The deposit has to be done in one-time during the account’s opening. After the FD matures, the earned interest with the principal amount is credited to your bank account. On Loanbaba, you can utilize the fixed deposit rates calculator SBI to understand the total income on your FD with the bank.
The maturity of SBI fixed deposit depends on the following factors:
Below are the SBI FD interest rates 2020. You can enter the rate in SBI FD calculator to find out the exactly earning.
|Tenure||Fixed Deposit Interest Rates||Maturity Amount for Rs. 1 Lakh|
|7 days to 45 days||5.75% to 6.25%||Rs. 100,110 - Rs.100,771|
|46 days to 179 days||6.25% to 6.75%||Rs. 100,788 - Rs.103,337|
|180 days to 210 days||6.35% to 6.85%||Rs. 103,156 - Rs.103,985|
|211 days to 364 days||6.40% to 6.90%||Rs. 103,739 - Rs.107,061|
|1 year to 1 year 364 days||6.80% to 7.30%||Rs. 106,975 - Rs.115,544|
|2 years to 2 years 364 days||6.80% to 7.30%||Rs. 114,437 - Rs.124,213|
|5 years to 10 years||6.85% to 7.35%||Rs. 140,439 - Rs.207,162|
|3 years to 4 years 364 days||6.80% to 7.30%||Rs. 122,420 - Rs.143,549|
The bank will transfer the earned interest at each interval (for instance, quarterly), to your bank account under a periodic interest payout option. The interest rate will be the same till the account’s maturity. After maturity, the amount will be transferred to your bank account, unless the deposit is renewed. For State Bank of India’s cumulative deposit scheme, you will get a credit of the interest earned net of TDS and the principal amount, at maturity.
FD calculator SBI online helps to calculate the earnings in fixed deposit within no time. Below given is FD rates calculator SBI, which you can use free-of-cost on our website.
Banks will deduct TDS on the interest income of fixed deposits, when the entire amount is disbursed after maturity. TDS is calculated at the end of each financial year. The FD interest calculator SBI takes into account the TDS when calculating the maturity amount.
The SBI FD rate is influenced by the following factors.
Whenever you use the FD interest rate calculator SBI, keep in mind the above-mentioned factors.
Disclaimer: All information stated is purely for informational purpose. The fixed deposit schemes and rates may change with a change in RBI policies and the bank’s policies. You can keep a check on SBI’s official website for current information.