The SBI RD Calculator is a tool provided by the State Bank of India to help customers calculate the maturity amount for their Recurring Deposit (RD) account. It is a convenient and reliable way for SBI RD account holders to plan their savings and make informed decisions about their investments.
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Rate of Interest (Yearly)
Let us learn in detail about the SBI Recurring Deposit Calculator in this article.
SBI RD interest rate calculator is an online financial tool to help you in determining the maturity returns and interest earned from your investment in a Recurring Deposit Account.
An RD is a type of savings account where the customer deposits a fixed amount of money every month for a fixed tenure, and earns interest on it.
It considers the following factors to calculate your potential SBI RD returns:
Amount of your monthly deposits
Tenure of the deposit
Applicable SBI RD interest rates
Several reasons can answer your query of why it is important to use the SBI RD Calculator. Major reasons are as follows:
SBI RD Calculator provides accurate calculations
Helps you to plan your savings and investments better
Enables them to set a realistic investment goal and understand how much they need to save each month to achieve it
Allows you to compare the maturity value of different RD schemes offered by the bank
A quick and easy tool that saves your time in calculating the maturity value of your investment manually
By using the RD Calculator, customers can make informed decisions about their investments
The investor has to follow the below-mentioned simple procedure to calculate SBI RD interest rate returns through the online SBI RD Calculator:
Step 1: Open the Policybazaar SBI RD Calculator
Step 2: Select the following details in the calculator
Monthly recurring deposit amount
Tenure of your SBI RD investment
Valid SBI RD interest rates
Step 3: The SBI Recurring Deposit Calculator will display the following details immediately:
Total investment during the tenure
Interest earned on SBI RD interest rates
An investor can also compute the maturity value manually with the help of the SBI RD calculation formula mentioned below:
If you deposit Rs. 2,000 monthly in SBI RD
For a period of 2 years
At an SBI RD interest rate of 7% p.a.
Maturity amount= 2000 [(1+7*8] - (8*2) – 1)]
= Rs. 51,640
The main advantages of using an RD Calculator are:
Save time and energy
Easy to use
Gives accurate results
Offers instant comparisons between 2 or more bank RD interest rates
Provides the right estimation of returns so that the future can be planned accordingly
The SBI RD Calculator is a valuable tool provided by the State Bank of India to help customers calculate the maturity value of their Recurring Deposit (RD) account. It helps customers make informed decisions about their investments.
The SBI RD Calculator is a user-friendly, time-saving, and reliable tool that assists customers in managing their finances effectively.
|RD Interest Rate
|RD Interest Rates for Senior Citizens
|1 Year - <2 years
|2 years - <3 years
|3 years - <5 years
|5 years - 10 years
|RD Interest Rates for General Public
|State Bank of India (SBI)
|Punjab National Bank (PNB)
|Post Office RD
Past 10 Year annualised returns as on 01-02-2024
^Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
Tax benefit is subject to changes in tax laws. Standard T&C Apply
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
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