| Monthly EMI | ₹86 |
| Principal Amount | ₹1,000 |
| Total Interest | ₹32 |
| Total Amount | ₹1,032.00 |
The SBI RD Calculator is a simple and effective online tool that helps individuals estimate the maturity amount of their recurring deposits with the State Bank of India (SBI). By using the SBI Recurring Deposit Calculator, you can plan your savings efficiently by calculating the interest earnings and final maturity amount. Whether you're saving for a short-term goal or a long-term objective, this calculator simplifies financial planning by providing quick and accurate results. The SBI RD deposit calculator is also helpful for senior citizens who want to evaluate returns under special interest rates.
The SBI RD Calculator helps you estimate the maturity value of your recurring deposit with accurate interest projections. SBI currently offers RD interest rates up to 7.3% p.a., with higher rates for senior citizens.
Table of Contents:
SBI RD Interest Rates
The interest rates on SBI RD accounts vary based on the tenure and customer type. Below are the SBI RD interest rates effective from 16th May 2025 for the General Public and Senior Citizens.
SBI RD Interest Rates for the General Public
| Tenure | Revised Rates (w.e.f. 16/05/2025) |
|---|---|
| 1 year to less than 2 years | 6.50% |
| 2 years to less than 3 years | 6.70% |
| 3 years to less than 5 years | 6.55% |
| 5 years to 10 years | 6.30% |
SBI RD Interest Rates for Senior Citizens
| Tenure | Revised Rates (w.e.f. 16/05/2025) |
|---|---|
| 1 year to less than 2 years | 7.00% |
| 2 years to less than 3 years | 7.20% |
| 3 years to less than 5 years | 7.05% |
| 5 years to 10 years | 7.30%* |
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Steps to Use SBI RD Calculator
The calculate RD interest SBI tool is very easy to use. Here are the simple steps to estimate your RD maturity amount using the SBI RD calculator for senior citizens or the general public:
- Enter the monthly deposit amount you plan to invest.
- Input the applicable interest rate based on your tenure and category.
- Select the investment tenure in months or years.
- View the calculated maturity and interest amount instantly.
The SBI RD calculator for senior citizens automatically considers the higher interest rates applicable for eligible users.
SBI Recurring Deposit Calculation
To determine the interest amount of your RDs, you can use an online RD calculator or calculate it manually. The mathematical formula for this computation is presented below:
M = R[(1+i)^n-1]/(1-(1+i)^(-1/3) )
Here,
M = Maturity Value
R = Monthly Installment
n = Number of quarters
I = Rate of interest
Example:
Let’s assume a monthly recurring deposit of ₹1,000 for 5 years at an interest rate of 7.3% p.a. compounded quarterly.
Here's the calculation for the interest you will earn at maturity:
Given:
Monthly deposit (R) = ₹1,000
Deposit period (n) = 5 years * 4 quarters/year = 20 quarters
Interest rate (i) = 7.3% p.a. = 7.3 / 100 = 0.073 (converted to decimal)
Using the compound interest formula:
M = R [(1 + i)^n - 1] / (1 - (1 + i)^(-1/3))
Calculating the maturity value (M):
M = 1000 * [(1 + 0.073)^20 - 1] / [ 1 - (1 + 0.073)^(-1/3) ]
M = ₹72,591
Total deposit:
Total deposit = Monthly deposit * Number of deposits
Total deposit = ₹1,000/month * 20 quarters = ₹20,000
Interest earned:
Interest = Maturity value - Total deposit
Interest = ₹72,591 - ₹20,000
Interest = ₹52,591
Therefore, with a 7.3% interest rate p.a., you would earn approximately ₹52,591 in interest over the 5 years.
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Features of the SBI Recurring Deposit Scheme
Here are some key features of the SBI RD scheme:
- Period of Deposit: Minimum 12 months to a maximum of 120 months.
- Availability: Offered at all SBI branches.
- Minimum Deposit: ₹100 per month, in multiples of ₹10.
- Penalty for Late Payment: Yes, applicable on missed installments.
- Account Closure Policy: The Account will be closed after six consecutive missed installments.
- Maturity Instructions: Option to credit amount to savings account, issue Banker’s Payment Order, or opt for Term Deposit Receipt.
Benefits of Using the SBI RD Calculator
The SBI RD deposit calculator offers several advantages:
- Accurate Estimation: Helps you predict the maturity amount and interest with precision.
- Time-Saving: Avoids manual calculations and delivers instant results.
- Financial Planning: Assists in setting realistic savings goals.
- Senior Citizen-Friendly: Calculates returns under higher interest rates for senior citizens.
- User-Friendly Interface: Easy for anyone to operate, even without technical knowledge.
Frequently Asked Questions
At 7.3% p.a. interest compounded quarterly, the maturity amount is approximately ₹362,955.
Interest earned: Around ₹62,955.
As of May 2025, SBI offers 7.3% p.a. on RDs of 5 to 10 years for senior citizens. Other banks like IDFC First Bank and Yes Bank may also offer similar rates. Always check current rates.
SBI calculates RD interest quarterly, using compound interest on each monthly installment. The formula used is: M = R [(1 + i)^n - 1] / (1 - (1 + i)^(-1/3))
RDs are better for regular monthly savers, while FDs are ideal if you have a lump sum to invest. Both offer similar interest rates, but FDs may offer more flexible payout options.
At 7.3% p.a., ₹2,000/month for 5 years will grow to approximately ₹145,182.
Interest earned: Around ₹25,182.
At 7.3% p.a., the maturity amount will be around ₹12,470.
Interest earned: Approx. ₹470.
At 7.3% p.a., the maturity value will be ₹72,591. Interest earned: ₹12,591.
Look for RDs offering the highest 1-year interest rate. As of now, private banks like Yes Bank or RBL Bank often offer higher short-term RD rates than public sector banks.
Yes, SBI allows premature closure of RD, but there may be a penalty and lower interest rate applied. Partial withdrawals are not allowed.
- No tax benefit under Section 80C
- Premature withdrawal leads to penalties
- Interest is fully taxable
- No flexibility in the monthly installment once set
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