# SBI RD Interest Calculator

Last Updated 12th May 2020

## RD Calculator SBI in India May 2020

Tenure General Rates Senior Citizen Rates
1 year to 1 year 364 days 5.50% 6.00%
2 years to 2 years 364 days 5.50% 6.00%
3 years to 4 years 364 days 5.70% 6.20%
5 years to 10 years 5.70% 6.50%

Calculate RD Maturity Amount of All Banks in India

SBI RD Calculator
Rs.
%
FD Offers with High Returns Offers
Bank/NBFCs Rate Tenure Action
Bajaj Finance7.85%60 MonthsAPPLY
PNB Housing Finance8.00%120 MonthsAPPLY

### SBI Recurring Deposit Calculator

SBI, a leading Public Sector Bank in India offers attractive interest rates upto 5.70% on its Recurring deposits.
RD maturity amount that you will get depends upon

• Deposit amount
• Rate of interest
• RD tenure
• Compounding frequency
• TDS applicability and TDS rate

### SBI Recurring Deposit Interest Calculator

• 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 same across the life of the deposit. On maturity of RD, 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 RD maturity amount using the RD calculator.

## Tax on Recurring Deposit SBI

• In case the interest earned by you across all your recurring deposits across all branches of SBI in a year exceeds 10,000, 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 RD.
• We arenâ€™t done yet. This was only the TDS. Now, you would need to add the interest income on all your SBI RDâ€™s and other RDâ€™s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. 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 RD 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 RD interest rate calculator â€“ Check your city

• To know more or apply, contact any of the branches of SBI in your city

#### Frequently Asked Questions on RD Calculator SBI

What is the highest interest earned on SBI recurring deposit?

You can earn a maximum interest of 5.70% on SBI recurring deposit.

Are there any extra benefits for senior citizens on fixed deposit of SBI?

Yes, senior citizens get extra benefit of 0.8% interest rates on their RD in SBI.

SBI News - May 2020
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More