Calculate your SBI Recurring Deposit returns instantly. Enter your monthly deposit amount, interest rate, and tenure to see how much your SBI RD will grow with compound interest.
An SBI RD (Recurring Deposit) calculator is a free online financial tool that helps you estimate the maturity amount and total interest earned on your SBI Recurring Deposit. It allows you to plan your monthly savings by showing you exactly how much your money will grow over a specific period at SBI's current interest rates.
Recurring Deposits are one of the most disciplined and convenient saving instruments offered by SBI. They allow you to deposit a fixed amount every month and earn compound interest on it. The SBI RD calculator simplifies the complex mathematical calculations involved in determining the maturity amount.
How Does the SBI RD Calculator Help?
The SBI RD calculator uses a compound interest formula to compute the maturity amount based on the variables you enter. It takes three key inputs:
Monthly Deposit (P) — The fixed amount you deposit every month
Interest Rate (r) — The annual interest rate offered by SBI (currently 6.50% for regular citizens)
Tenure (t) — The duration for which you want to save (1 to 10 years)
The calculator instantly processes these inputs and displays the total investment, interest earned, and maturity amount along with a visual breakdown through a donut chart.
About SBI Recurring Deposit Scheme
State Bank of India (SBI) is India's largest public sector bank and offers one of the most trusted Recurring Deposit schemes in the country. Here is a quick snapshot of SBI RD features:
Feature
Details
Minimum Deposit
₹100 per month
Maximum Deposit
No upper limit
Tenure Range
1 year to 10 years
Interest Rate (Regular)
6.50% p.a.
Sr. Citizen Benefit
Additional 0.50% (7.00% p.a.)
Compounding
Quarterly
Loan Facility
Available (up to 90% of deposit)
Nomination
Available
TDS
Applicable if interest exceeds ₹40,000 (₹50,000 for senior citizens) per year
SBI RD accounts can be opened at any SBI branch or through SBI Internet Banking and YONO app. The auto-debit facility ensures your monthly installment is deducted automatically from your SBI savings account, making it a hassle-free savings option.
Premature withdrawal of SBI RD is allowed, but a penalty of 1% on the applicable interest rate is charged. The interest rate applied on premature closure is the rate applicable for the period the deposit has been held, minus the penalty.
How to Use the SBI RD Calculator
Using the SBI RD calculator is simple and takes just a few seconds:
Step 1: Enter the monthly investment amount you wish to deposit (₹100 to ₹1,00,000)
Step 2: Enter the annual interest rate (SBI currently offers 6.50% for regular citizens)
Step 3: Select the tenure (investment period) from 1 to 10 years
The calculator will instantly display your total investment, interest earned, and maturity amount along with a visual chart showing the breakdown of your deposits vs. returns.
Benefits of SBI Recurring Deposit
Disciplined Savings: RD instils a habit of regular monthly savings with a fixed commitment amount
Low Minimum Deposit: Start with as little as ₹100 per month, making it accessible to everyone
Guaranteed Returns: Your interest rate is fixed for the entire tenure, unaffected by market fluctuations
DICGC Insurance: Bank deposits are insured up to ₹5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of RBI
Auto-Debit Facility: Monthly installments are automatically deducted from your SBI savings account
Loan Against RD: You can avail a loan of up to 90% of the deposit amount without breaking the RD
Senior Citizen Benefits: Senior citizens get an additional 0.50% interest rate on SBI RDs
Why Choose SBI for Recurring Deposit?
State Bank of India is the most trusted banking institution in India with a legacy spanning over 200 years. Here are key reasons to choose SBI for your Recurring Deposit:
India's Largest Bank: SBI has over 22,000 branches and 65,000+ ATMs across India, making it the most accessible bank
Government Backed: As a public sector bank, SBI enjoys sovereign backing, providing unmatched safety for your deposits
Digital Convenience: Open and manage your RD through SBI Internet Banking or YONO app
Competitive Rates: SBI offers competitive interest rates with additional benefits for senior citizens
Flexible Tenure: Choose from 1 year to 10 years based on your financial goals
Book FDs up to 8.30% on Y1 Money — Y1 Money partners with RBI-regulated banks to offer high-interest fixed deposits. Book an FD in under 2 minutes, no new bank account needed. All deposits insured up to ₹5 lakh by DICGC.
Frequently Asked Questions
SBI currently offers 6.50% per annum on Recurring Deposits for regular citizens and 7.00% per annum for senior citizens. The interest is compounded quarterly. Rates may vary based on tenure and are subject to change.
You can open an SBI Recurring Deposit with a minimum monthly installment of ₹100. There is no upper limit on the monthly deposit amount, and you can choose any amount in multiples of ₹10.
Yes, you can open an SBI RD online through SBI Internet Banking (OnlineSBI) or the YONO app. You can also set up auto-debit from your SBI savings account for hassle-free monthly deposits.
Yes, premature withdrawal of SBI RD is allowed. However, a penalty of 1% is deducted from the applicable interest rate. The interest rate applied will be the rate for the period the deposit has actually been held, minus the 1% penalty.
Yes, TDS at 10% is deducted if the total interest earned on all your deposits (FD + RD) with SBI exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if your total income is below the taxable limit.
If you miss an RD installment, SBI charges a penalty of ₹1.50 per ₹100 per month of default. If you miss three consecutive installments, the RD account may be prematurely closed. It is advisable to set up auto-debit to avoid missing installments.
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