State Bank of Mysore FD Calculator
FD Calculator State Bank Mysore (Now SBI) in India May 2017
|Tenure||General Rates||Senior Citizen Rates|
|7 days to 45 days||5.50%||6.00%|
|46 days to 90 days||6.50%||7.00%|
|91 days to 179 days||6.50%||7.00%|
|180 days to 210 days||6.50%||7.00%|
|211 days to 364 days||6.50%||7.00%|
|365 days to 455 days||6.90%||7.40%|
|456 days to 1 year 364 days||6.75%||7.25%|
|2 years to 2 years 364 days||6.75%||7.25%|
|3 years to 4 years 364 days||6.50%||7.00%|
|5 years to 10 years||6.50%||7.00%|
State Bank of Mysore Fixed Deposit Calculator
State Bank of Mysore, a leading Public Sector Bank in India offers attractive interest rates upto 6.90% 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
State Bank of Mysore Fixed Deposit Interest Calculator
- In a periodic interest payout option, State Bank of Mysore 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 State Bank of Mysore 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.
Tax on Fixed Deposit State Bank Mysore (Now SBI)
- In case the interest earned by you across all your fixed deposits across all branches of State Bank of Mysore in a year exceeds 10,000, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the State Bank of Mysore 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 State Bank of Mysore 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).
- State Bank of Mysore 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.
State Bank of Mysore 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 State Bank of Mysore in your city
Frequently Asked Questions on FD Calculator State Bank of Mysore
What is the highest interest earned on State Bank of Mysore fixed deposit?
You can earn a maximum interest of 6.90% on State Bank of Mysore fixed deposit.
Are there any extra benefits for senior citizens on fixed deposit of State Bank of Mysore?
Yes, senior citizens get extra benefit of 0.5% interest rates on their FD in State Bank of Mysore.