SBI FD Calculator

Last Updated 24th Feb 2017

FD Calculator SBI – Know your maturity amount?

  • SBI, a leading Public Sector 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
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Interest Compounding Frequency
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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

News - Feb 2017
21st Feb 17 State Bank of Travancore plans to raise Rs. 600 crore via Basel Compliment bonds
State Bank of Travancore, an associate bank of SBI, plans to raise funds worth Rs. 600 crore via Basel Compliment bonds on a private placement basis. The bank plans to raise the funds after its proposed merger with its parent bank State Bank of India.
16th Feb 17 SBI takes lead of blockchain to use it to prevent fraud
State Bank of India has taken the lead in bringing lenders and tech companies for using block chain technology to share information between the banks which will eventually help in preventing fraud and tackle bad loans. The initiative is taken in partnership with IBM, KPMG, Microsoft and 10 commercial banks. Blockchain, technology behind cyber currency Bitcoin, runs on a concept of centralised registry that can be accessed by all members. The bank proposes to use the technology for trading finance and loan documents at initial stage and will gradually expand to other operations.
16th Feb 17 SBI gets approval for merger with 5 associate banks
State Bank of India got final approval from Union Cabinet on the merger with its five associate banks including State Bank of Hyderabad, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank of Patiala and State Bank of Tranvcore. The merger proposal was announced in May 2016 and was scheduled for March 2017.
11th Feb 17 SBI registers 134 percent growth in its net profit in third quarter of FY17
State Bank of India has reported a growth of 134 percent in its net profit at Rs. 2,610 crore during third quarter of FY17 as compared to Rs. 1,115 crore for the corresponding period a year ago. The bank also registered a decent growth of 7.6 percent in its net interest income reported at Rs. 14,751 crore during the quarter. However, asset quality of the bank remained stable during the quarter with the share of gross non-performing assets at 7.23 percent on year on year basis as compared to 7.14 percent earlier.
10th Feb 17 SBI to announce Q3 results on 10th Feb, 2017
State Bank of India is scheduled to announce its results for third quarter of FY17. The bank is likely to see a decent growth of 10 and 15 percent in its corporate loan book and deposits respectively. The bank also anticipate an improvement in its net interest margin reported at 2.8 percent for the third quarter of FY16.
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