SBI FD Calculator

The SBI FD calculator is a tool that allows a person to calculate the maturity amount for a fixed deposit in the State Bank of India (SBI). It provides an estimate of the amount that the applicant will get once his/ her SBI FD matures. It uses information, such as the investment amount, applicable SBI FD rate of interest, FD tenure and the frequency of interest calculation to arrive at the maturity amount.

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SBI FD Calculator

Total Investment

₹500 ₹10L
Enter Total Investment

Rate of Interest (Yearly)

1% 10%
Rate of Interest (Yearly)

Time Period

1 Year 10 Years
Enter Time Period
Total Investment
Interest Earned
Maturity Amount

Fixed deposit or FD is a risk-free investment scheme offered by different banks, including the SBI. A person can invest his/ her savings in an SBI FD account to earn attractive interest until maturity. The interest of an SBI fixed deposit can be calculated monthly, quarterly, semi-annually and annually. Moreover, the State Bank of India provides higher FD rates to senior citizens as compared to the general public.

How Can SBI Fixed Deposit Calculator Help?

SBI offers a range of fixed deposit schemes to their customers. The applicant should invest in an FD scheme that best suits their investment purpose and maturity goals. The FD rate of interests varies according to the maturity period selected. The SBI offers fixed deposits for a minimum tenure of 7 days to a maximum of 10 years. An SBI FD interest calculator can be helpful for an investor in the following ways:

  • Estimate Maturity Amount - An SBI fixed deposit calculator helps a person to get an idea of the maturity amount they will get at the end of their FD tenure. This helps them to choose the FD scheme that provides a maturity amount closest to their expectations.
  • Determine FD Tenure - It can help a person to ascertain which FD tenure is most beneficial for them. They can use the SBI FD interest rates calculator to determine which FD tenure will help them earn the maximum returns.
  • Plan Investment Goals - It helps them to easily plan their short-term as well as long-term investment goals. They can check the maturity amount for various tenures using the calculator and decide which scheme helps them to achieve their investment goals.
  • Greater Accuracy - The results of an SBI fixed deposit interest calculator is more accurate than manual calculations. Thus, it helps you to get a more accurate idea of the maturity amount so that you can invest in an FD accordingly.
  • Saves Time - A person can save a lot of time by using an SBI interest rates FD calculator as you don’t have to visit the Bank to find out the maturity amount.

How Does an SBI FD Calculator Work?

An SBI FD rates calculator uses a formula to calculate the maturity amount for a fixed deposit. The formula is as follows:

A= P(1+r/n)^n*t

where ‘A’ refers to the maturity amount that you get at the end of the FD tenure,

‘P’ refers to the investment amount,

‘r’ refers to the applicable SBI FD rate of interest,

‘n’ refers to the frequency of interest calculation or the number of times the interest is calculated and

‘t’ refers to the FD tenure.

Please note that the value of ‘n’ is ‘1’ if the interest is compounded annually, ‘2’ if compounded half-yearly, ‘4’ if compounded quarterly and ‘12’ if compounded monthly.

For example: A person wants to invest Rs 1 lakh in a State Bank of India FD account for 3 years at an interest rate of 7% compounded half-yearly. In this case,

P = Rs 1 lakh

r = 7%

n = 2

T = 3

Therefore, if you apply the formula, it comes to A = 1,00,000 (1+7%/2)^2*3, the maturity amount equals to Rs 1,22,925 at the end of 3 years.

Simple Interest vs. Compound Interest

The interest on an SBI fixed deposit amount can be calculated in two ways - simple interest and compound interest. Take a look at the differences between simple interest and compound interest:


Simple Interest on SBI FD

Compound Interest on SBI FD


It is the type of method where the interest is earned on an SBI fixed deposit at a fixed interest rate for a specified time.

It is the type of method where the interest on an SBI FD is added to the principal amount and is not paid until maturity.

Investment/ Principal Amount

Under the simple interest method, the interest is earned only on the principal amount or the FD investment amount. The interest earned is added to the account of the depositor.

Under the compound interest method, the interest compounded for the first year/ month is added to the principal amount. The sum of the principal amount and the interest compounded becomes the principal amount for the second year. The same continues until maturity.

Change in Principal Amount

The principal amount remains the same throughout the FD tenure.

The principal amount increases every time the interest is compounded as the interest is added to the FD investment amount.

Returns Earned

The returns earned on an SBI FD through simple interest is lower as the principal amount remains the same throughout the tenure.

The returns earned on an SBI FD through compound interest is higher as the interest is compounded which increases the principal amount.


Simple Interest = P*R*T/100, where ‘P’ refers to the principal amount, ‘R’ refers to SBI FD rate of interest and ‘T’ refers to the FD tenure.

Compound Interest = P (1+r/100) - P, where ‘P’ refers to the principal amount and ‘R’ refers to SBI FD rate of interest.

How to Use PolicyBazaar SBI Fixed Deposit Calculator?

The SBI fixed deposit interest rate calculator can be used effortlessly on All you need to do is follow the procedure given below to use an SBI Bank FD calculator:

  • Login to
  • Go to the SBI FD calculator
  • Enter the amount you want to invest
  • Fill in the FD tenure and the applicable SBI FD rates
  • Choose if you are a senior citizen or not
  • Submit the details by clicking on ‘Calculate’
  • The maturity amount that you will earn on your FD amount will be shown

Advantages of Using SBI Fixed Deposit Calculator

The SBI FD interest rates calculator comes with the following benefits:

  • It allows a person to know the maturity amount that he/ she will get if they invest in a fixed deposit by SBI.
  • It helps a person to easily plan their investment portfolio.
  • The tool helps a person to compare different FDs with SBI as well as of different banks and choose the FD scheme he/ she wants to invest in.
  • The SBI FD interest calculator is easy to use and can be used by everyone.
  • It is an online tool and hence, can be used anytime anywhere.
  • This tool can be used free of cost.

SBI Fixed Deposit Calculator - FAQs

  • Q.What are the various SBI FD interest payment options?

    Ans:. The State Bank of India provides the following FD interest payment options:
    • Periodic interest payment option - Under this method, the SBI Bank will credit the interest earned at each periodic interval to your bank account.
    • Cumulative interest payment option - Under this method, the SBI Bank will credit the total returns on your principal amount and the interest earned to your bank account only on maturity.
  • Q.In how many years will my FD in SBI double?

    Ans:. To know when will your SBI FD double up, you can use the rule of 72. Under this rule, the number ‘72’ is divided by SBI FD interest rate applicable on your FD. The result is the number of years that it will take for your SBI FD to double up.

    For example, if you are getting an interest rate of 7% on your fixed deposit in SBI, then as per the rule of 72, 72/7 = 10.2. Thus, it will take you a little more than 10 years to double your FD amount.

  • Q.What is the minimum amount I need to invest to open an FD in SBI?

    Ans:. You can invest a minimum of Rs 1,000 to open a fixed deposit in the State Bank of India.
  • Q.What is the maximum amount I can invest in an SBI fixed deposit?

    Ans:. You can invest as much money as you want in an SBI FD account as there is no maximum investment limit.
  • Q.Can I withdraw my FD in SBI Bank before maturity?

    Ans:. Yes. You can withdraw your fixed deposit in SBI Bank prematurely. However, a penalty charge will apply and you will receive your money after deducting the penalty charge.
  • Q.What is the penalty charge for premature withdrawal of an SBI fixed deposit?

    Ans:. The SBI Bank will charge a penalty of 0.50% on your FD investment amount if it is less then Rs 5 lakh. The penalty charge will increase to 1% of your investment amount if it is of Rs 5 lakh to up to Rs 1 crore.

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