SBI FD Calculator

Last Updated 07th Dec 2016
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FD Interest Rates

FD Calculator SBI – Know your maturity amount?

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  • SBI, a leading Private Bank in India offers attractive interest rates upto 7.00% on its fixed deposits.
  • FD maturity amount that you will get depends upon
  • Deposit amount
  • Rate of interest
  • FD tenure
  • Compounding frequency
  • TDS applicability and TDS rate

SBI Fixed Deposit calculator – FD Options

  • In a periodic interest payout option, SBI would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a SBI cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

Fixed Deposit calculator SBI – Will TDS be deducted?

  • In case the interest earned by you across all your fixed deposits across all branches of SBI in a year exceeds 0, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the SBI records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your FD.
  • Sorry, but we aren’t done with tax yet. This was only the TDS. Now, you would need to add the interest income on all your SBI FD’s and other FD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. Remember that you must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
  • SBI will also issue you a Form 16A giving details of tax deducted on FD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.

SBI FD interest rate calculator – Check your city

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • To know more or apply, contact any of the branches of SBI in your city - Find SBI Branches here

  • FD Calculator of all banks in India

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News - Dec 2016
30th Nov 16 Bhartiya Mahila Bank merger with SBI approved by CCI
Competition Commission of India has approved an amalgamation of Bhartiya Mahila Bank in to State Bank of India. Both the banks will work towards providing banking products to their retail and corporate customers.
30th Nov 16 SBI opens 11.8 lacs new bank accounts post demonetisation
State Bank of India has opened 11.8 lacs new saving accounts post demonetisation. The total estimated number of new bank accounts opened since 8th November is 30 lacs.
26th Nov 16 SBI launches SBI Pay, UPI application of its own
State Bank of India has launched its own UPI (Unified Payment Interface) based application SBI Pay. The application can be used by both SBI and non SBI account holders. HDFC, ICICI and Axis Banks and 15 other banks have already launched their UPI based application. The total number of banks having their own UPI based application inclusive of SBI is now 18.
26th Nov 16 SBI ties up with INOX Leisure for dispensing cash
State Bank of India has announced partnership with INOX Leisure, a multiplex chain, to dispense cash. Customers can now easily withdraw Rs. 2,000 per day from INOX Leisure cinema box office by swiping their debit cards. The facility will be available across 17 properties of INOX Leisure starting from 26th November, 2016.
24th Nov 16 SBI fixed deposit rates cut by 1.9 percent
State Bank of India has further reduced its bulk fixed deposits rates (Rs.1 to Rs.10 crores) by 1.9 percent to 3.85 percent for tenure of 180 to 210 days. The revised fixed deposits rate for one year to 455 days is now 4.25 percent instead of 6 percent earlier. FD rate for three to five years is also reduced to 4.25 percent from 5.50 percent. The revised rates are effective from 24th November, 2016.
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