Savings Calculators
SBI RD Calculator
State Bank of India (SBI) offers recurring deposits that let you save a fixed sum every month and earn a guaranteed, FD-like rate — a disciplined way to build a corpus for a near-term goal. SBI RDs run from 12 months to 10 years, are backed by the bank's government majority ownership, and are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5 lakh per depositor. Use this SBI RD calculator to find your maturity value and interest earned — enter your monthly deposit, an indicative interest rate and tenure to see your returns with the quarterly compounding SBI applies.
- Invested
- ₹3,00,000
- Interest Earned
- ₹57,771
Maturity Value
₹3,57,771
- Invested84%
- Interest Earned16%
Formula
M = R × [((1 + i)ⁿ − 1) ÷ i] × (1 + i), where i = (1 + r/4)^(1/3) − 1
- R
- Fixed monthly deposit paid into the SBI RD.
- i
- Effective monthly rate derived from the quarterly rate r/4.
- n
- Total number of monthly deposits (years × 12).
SBI takes a monthly deposit but compounds interest quarterly, so the quarterly rate is converted to an equivalent monthly rate. The rate shown is indicative — confirm the live RD rate on SBI's website or at a branch, as it varies by tenure. The figure is the gross maturity value before any TDS.
Worked example
Suppose you deposit ₹5,000 every month into an SBI recurring deposit at an indicative rate of 6.80% per annum for 5 years (60 deposits), with quarterly compounding.
- Monthly Deposit (R)
- ₹5,000
- Interest Rate (p.a.)
- 6.80% (indicative)
- Tenure
- 5 years (60 months)
You deposit ₹3,00,000 in total. The SBI RD matures to about ₹3,57,771 — meaning roughly ₹57,771 of interest earned on top of your deposits. Earlier deposits earn interest for longer, so they contribute the most.
Year-by-year growth
Based on the default SBI RD Calculator values above. The final year matches the maturity value shown by the calculator — change the inputs to project your own plan.
- Total invested
- ₹3,00,000
- Interest earned
- ₹57,771
- Maturity value
- ₹3,57,771
- Value / invested
- 1.19×
Over 5 years, your ₹3,00,000 grows to about ₹3,57,771 — roughly 1.19× what you put in, thanks to compounding.
| Year | Invested | Interest earned | Maturity value |
|---|---|---|---|
| 1 | ₹60,000 | ₹2,244 | ₹62,244 |
| 2 | ₹1,20,000 | ₹8,829 | ₹1.29 Lakh |
| 3 | ₹1,80,000 | ₹20,059 | ₹2 Lakh |
| 4 | ₹2,40,000 | ₹36,257 | ₹2.76 Lakh |
| 5 | ₹3,00,000 | ₹57,771 | ₹3.58 Lakh |
How this SBI RD calculator works
Adjust the monthly deposit, interest rate and tenure sliders to see your SBI RD maturity value and interest earned update instantly, with a breakdown of how much you deposited versus how much you earned. The rate is pre-set to an illustrative 6.80% — change it to the rate SBI quotes for your chosen tenure. Each deposit earns interest for the months that remain, so earlier deposits contribute more interest, and the calculator reflects this automatically through quarterly compounding.
Why an SBI recurring deposit
For savers who earn a regular salary but don’t have a lumpsum to lock into an FD, an SBI RD turns a monthly saving habit into a guaranteed corpus. The rate is fixed at booking, so the maturity amount is known in advance and never exposed to market swings — and SBI’s government ownership plus DICGC cover make the deposit very safe. The trade-off is that returns are modest compared with market-linked options.
Tips for SBI RD savers
- Pick a sustainable monthly amount you can maintain for the full tenure to avoid default penalties.
- Automate the instalment from your SBI savings account so you never miss a deposit.
- Ladder against an FD — pair the RD with an SBI FD so a lumpsum and a monthly habit both work toward your goal.
- Compare with a SIP if your goal is long term and you can accept market risk for potentially higher returns.
- Plan for TDS if your annual interest is likely to cross the threshold.
faq
Frequently asked questions.
What is the minimum SBI RD amount and tenure?
SBI recurring deposits start from ₹100 per month (in multiples of ₹10) and run for tenures from 12 months up to 10 years. There is no maximum on the monthly instalment. Use the sliders to see how a larger monthly deposit or a longer tenure increases your maturity value.
Do senior citizens get a higher SBI RD rate?
Yes. SBI offers senior citizens (60 and above) an additional rate over the standard RD rate, mirroring its FD policy. Enter the senior-citizen rate in the calculator to see the higher maturity value it produces.
What happens if I miss an SBI RD instalment?
Missing a monthly deposit attracts a small penalty for each defaulted instalment, and repeated defaults can lead to premature closure of the account. It is best to keep the monthly amount at a level you can sustain and to automate the debit from your SBI account.
Is SBI RD interest taxable?
Yes. Interest on a recurring deposit is taxable as income, and SBI deducts TDS at 10% when the total interest across your deposits crosses the annual threshold. The maturity value shown here is before tax; submit Form 15G/15H if your income is below the exemption limit.
Can I take a loan against my SBI RD?
Yes. SBI allows a loan or overdraft against the balance in your recurring deposit, typically up to 90% of the deposited amount, so you can meet a short-term need without breaking the RD and losing interest.