State Bank of Mysore Fixed Deposit calculator – FD Options
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.
Fixed Deposit calculator State Bank of Mysore – Will TDS be deducted?
In case the interest earned by you across all your fixed deposits across all branches of State Bank of Mysore in a year exceeds 10000, 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.
26th Oct 16 State Bank of Mysore posts loss in second quarter, bad loans surges three times
State Bank of Mysore reported a loss of Rs. 183.5 crore in the second quarter ended on September 30 as compared to net profit of Rs. 131 crore during the July to September quarter in FY16 due to rise in the bad loans. Total income of the bank in the second quarter also declined to Rs. 1,947.63 crore from Rs. 1,969.96 crore in corresponding period a year ago.
26th Jul 16 State Bank of Mysore posts Rs 472 crore loss in Q1 on bad loans
State Bank of Mysore posted a net loss of Rs. 471.88 crore in the June quarter of FY17 due to growing bad loans which resulted into a sevenfold jump in the provision for bad loans to Rs. 1037.78 crore in the June quarter of FY17. Total Income of the bank increased to Rs. 1987.63 crore in the June quarter of FY17. Gross NPAs as a percentage to Gross Advances increased to 7.83 per cent. Similarly, Net NPAs percentage also jumped to 4.65 per cent as of June 2016.
25th Nov 15 SBM launches soft loan for affordable housing
State Bank of Mysore launched a new home loan scheme aimed at promoting affordable housing among the lower income customers
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