SBI Annuity Deposit Scheme Calculator 2024

SBI Annuity Deposit Scheme Calculator 2024 is an online tool that helps you figure out your fixed annuity payments from the State Bank of India (SBI). It is free to use and lets you see how factors like your age, investment, or interest rate can impact your annuity. Ideal for retirees looking for a steady income.

Read more

Get Guaranteed Lifelong Pension
For You And Your Spouse

Invested amount returned to your nominee

Best Pension Options
  • Invest ₹20k monthly & Get yearly pension of ₹4.2 Lacs for Life

  • Guaranteed Return For Life

  • Multiple Annuity Options

We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
Buy Online and Get ₹ 1.4 Lacs extra#
Get Guaranteed Lifelong Pension
For You And Your Spouse
Invested amount returned to your nominee
+91
Secure
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

What is the SBI Annuity Deposit Scheme Calculator?

The SBI Annuity Deposit Scheme Calculator is a financial tool that helps you to calculate the following details under the SBI Annuity Deposit Scheme in 2024:

  • Annuity Maturity Amount

  • Monthly Annuity Payout

  • Interest Earned

  • Lump Sum Amount Invested

The SBI Annuity Scheme Calculator takes into account the following factors:

  • Deposit amount

  • Duration of the scheme

  • SBI Annuity Deposit Scheme Interest Rates

SBI Annuity Calculator

Your Age

18 Years 59 Years
Enter Your Age

Monthly Investment

₹500 ₹10L
Enter Investment Per Month

Expected Return on Investment

5% 15%
Expected Return on Investment

Percentage of Corpus Allocated for Pension

40% 100%
Enter Corpus Percentage

Expected Return from Pension

5% 15%
Enter Annuity Return
₹0
Your Monthly Pension
₹0
Your Monthly Pension
Your Pension Calculation
Your Pension Calculation
Total Investment
Returns Earned
Maturity Amount
Maturity Amount split (Lumpsum & Pension)
60%
Lumpsum Amount
At the age of 60 Yrs
40%
Pension Wealth
At the age of 60 Yrs

What is SBI Annuity Deposit Scheme?

SBI Annuity Deposit Scheme is a retirement plan offered by the State Bank of India (SBI). This investment option allows you to deposit a single lump sum and receive monthly payments consisting of a portion of the principal plus interest.

The EMIs of this annuity plan consist of the following amounts:

  • Principal Amount

  • Interest in the Decreasing Principal Amount

Features of the SBI Annuity Deposit Scheme

Let us learn the essential features of the SBI Annuity Deposit Scheme Calculator from the table mentioned below:

Features

Details

Scheme Type

Annuity Investment Plan

Premium Payment Mode

Lump Sum Payment

Annuity Payout Mode

Monthly instalments

Deposit Period

36/ 60/ 84/ 120 months

Deposit Amount

Rs. 1,000 per month – No Limit

Annuity Interest Rates

Same as interest rates of FDs (for the General Public and Senior Citizens)

Interest Rate Compound

Interest is Compounded Quarterly

Premature Payment Withdrawal

Available for deposits of up to Rs. 15 lakhs. The penalty is charged the same as for Term Deposits/ Fixed Deposits.

Nomination Facility

Available (in favour of an individual)

Overdraft/ Loan Facility

75% of Annuity Deposits can be availed of as Loan/ Overdraft

Transferability

Allowed among SBI branches

pension-ki-no-tensionpension-ki-no-tension

People also read: NPS

What are the Benefits of the SBI Annuity Deposit Scheme Calculator?

The SBI annuity calculator offers the following benefits under the SBI Annuity Deposit Scheme

  • SBI Annuity Deposit Scheme Calculator is a fast, user-friendly, and accurate digital financial tool.

  • The SBI Annuity Calculator can solve complex calculations within minutes and help determine the best investment plan for you.

  • It is a freely available financial tool available online can be used as per your convenience.

  • It gives you a clear picture of the investment amount you need to make in the present to guarantee a safe retirement in the future.

  • SBI Annuity Scheme Calculator saves you the process of going through all the tedious calculations by yourself.

How to Use SBI Annuity Deposit Scheme Calculator?

You can follow the 3 simple steps mentioned below to use the SBI Deposit Scheme Calculator:

Step 1: Go to the online Policybazaar SBI Annuity Deposit Scheme Calculator.

Step 2: Select the following details in the SBI annuity calculator:

  • One-Time Lump Sum Amount

  • Period of Deposits (from 3/ 5/ 7/ 10 years)

  • Expected Rate of Return on Investment

Step 3: The Policybazaar SBI Annuity Deposit Scheme Calculator will automatically show the following values to you: 

  • Expected Fixed Monthly Pension Amount

  • Total Amount Invested

  • Interest Earned from SBI Annuity Scheme

Vary the input values to compare to explore various investment scenarios and decide on the best investment option for you.

Invest More Get More
Invest ₹10K/Month YOU GET ₹1.5 LAKHS* MONTHLY PENSION View Plans
Invest ₹7K/Month YOU GET ₹1 LAKHS* MONTHLY PENSION View Plans
Invest ₹5K/Month YOU GET ₹75 THOUSAND* MONTHLY PENSION View Plans
standard T&C Apply *

How Does SBI Annuity Deposit Scheme Calculator Work?

The working process of the SBI Annuity Deposit Scheme Monthly Income Calculator is as follows:

Formula for SBI Annuity Deposit Scheme Calculator of SBI Annuity Deposit Scheme:
A = P * (r * (1 + r)^n) / (((1 + r)^n) - 1)
Here is the formula for SBI Annuity Deposit Scheme:
A
stands for Monthly annuity amount
P
stands for Lump sum deposit amount
r
stands for Quarterly interest rate (annual interest rate divided by 4)
n
stands for Number of quarters

SBI Annuity Deposit Scheme Interest Rates 2024~ w.e.f. 27 December 2023

Take a glance at the following SBI annuity interest rates recorded for different investment period as a reference for the use of SBI Annuity Deposit Scheme Calculator:

Period of Annuity Deposits Interest Rates for General Citizens (in % p.a.) Interest Rates for Senior Citizens (in % p.a.)
7 - 45 Days 3.50% 4.00%
46 - 179 Days 4.75% 5.25%
180 - 210 Days 5.75% 6.25%
211 Days - 1 Year 6.00% 6.50%
1 Year - 2 Years 6.80% 7.30%
2 Years - 3 Years 7.00% 7.50%
3 Years - 5 Years 6.75% 7.25%
5 Years - 10 Years 6.50% 7.50%

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

To Sum It Up!

The SBI annuity scheme calculator provides a convenient tool for you to estimate your annuity payments. By inserting relevant financial information, you can quickly determine the amount you can expect to receive at regular intervals, helping in financial planning and decision-making.

FAQs

  • What is the annuity return rate in SBI?

    SBI Annuity Deposit Scheme interest rates are the same as SBI FD rates for regular and senior citizens. As of April 1, 2024, the SBI annuity deposit interest rates for regular and senior citizens vary depending on the deposit tenure:
    • 7 and 45 Days: 3.50% to 4.00%

    • 46 and 179 Days: 4.75% to 5.25%

    • 180 and 210 Days: 5.75% to 6.25%

    • 211 Days and 1 Year: 6.00% to 6.50%

    • 1 Year and 2 Years: 6.80% to 7.30%

    • 2 Years and 3 Years: 7.00% to 7.50%

    • 3 Years and 5 Years: 6.75% to 7.25%

    • 5 Years and 10 Years: 6.50% to 7.50%

  • What is the SBI annuity scheme 2024?

    The SBI Annuity Deposit Scheme 2024 allows you to deposit a lump sum amount with SBI and receive regular payouts (monthly) throughout the chosen tenure. These payouts combine a portion of your principal amount and the interest earned on it. The SBI annuity deposit scheme interest rates are the same as those offered for regular FDs.
  • Which is better, annuity or FD?

    Have a look at the breakdown to help you decide between annuity plan and a Fixed Deposit (FD):
    • Annuity: Offers regular income stream, good for retirement planning, can provide some tax benefits. However, you have limited access to the principal amount during the tenure.

    • FD: More flexible access to your money (depending on the FD type) and potentially higher interest rates for shorter tenures. But FDs don't provide regular income.

  • Is SBI annuity good?

    SBI annuity deposit scheme is a good option if you:
    • Need a steady stream of income.

    • Are planning for retirement.

    • Want the security of a government-backed bank.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Pension plans articles

Recent Articles
Popular Articles
How Can I Get a 3000 Pension?

01 May 2024

Securing a monthly pension of 3000 rupees is a goal that many
Read more
Pension Calculator

13 Feb 2024

Pension calculator helps you calculate the amount you could
Read more
NPS vs ULIP - Which One Is Better?

10 Oct 2023

NPS (National Pension System) and ULIP (Unit Linked Insurance
Read more
Best Mutual Funds for Retirement

21 Sep 2023

Planning for a secure and comfortable retirement is a financial
Read more
Mahila Samman Savings Certificate (MSSC)

04 Sep 2023

The Mahila Samman Savings Certificate (MSSC) or Mahila Samman
Read more
Top 15 Pension Plans in India
The Pension Plan, also known as a Retirement Plan is the best investment instrument allowing individuals to build
Read more
Sevarth Mahakosh
Sevarth Mahakosh Portal is a one-stop solution for all state government employees' financial transactions and
Read more
NPS Calculator 2024
NPS Pension Calculator is a financial tool that calculates potential returns on the National Pension Scheme, by
Read more
NPS Calculator for Government Employees
National Pension Scheme or National Pension System (NPS) is launched by the Government of India for all its
Read more
How to Change Name in NPS Account Online?
The National Pension System is a GOI’s social security initiative for retired citizens. If you have invested in
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL