Sbi Nre Fixed Deposit Rates Calculator

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SBI NRE Fixed Deposit Calculator

Calculate your maturity amount for SBI Non-Resident External (NRE) deposits.

1 Year 2 Years 3 Years 4 Years 5 Years 6 Years 7 Years 8 Years 9 Years 10 Years
0 Months 1 Month 2 Months 3 Months 4 Months 5 Months 6 Months 7 Months 8 Months 9 Months 10 Months 11 Months
Minimum tenure for SBI NRE FD is 1 year. Please adjust your selection.
Total Investment: ₹ 0
Wealth Gained: ₹ 0
Total Maturity Value: ₹ 0
function calculateNBIFD() { var p = parseFloat(document.getElementById("nrePrincipal").value); var r = parseFloat(document.getElementById("nreRate").value); var y = parseInt(document.getElementById("nreYears").value); var m = parseInt(document.getElementById("nreMonths").value); var warning = document.getElementById("nreWarning"); var resultDiv = document.getElementById("nreResult"); if (isNaN(p) || isNaN(r) || p <= 0 || r <= 0) { alert("Please enter valid positive numbers for amount and rate."); return; } // SBI NRE Rule: Minimum 1 year var totalMonths = (y * 12) + m; if (totalMonths < 12) { warning.style.display = "block"; resultDiv.style.display = "none"; return; } else { warning.style.display = "none"; } // SBI NRE FDs typically use quarterly compounding // Formula: A = P * (1 + r/400)^(n) where n is number of quarters var totalQuarters = totalMonths / 3; var maturityValue = p * Math.pow((1 + (r / 400)), totalQuarters); var totalInterest = maturityValue – p; document.getElementById("resPrincipal").innerText = "₹ " + p.toLocaleString('en-IN', {maximumFractionDigits: 0}); document.getElementById("resInterest").innerText = "₹ " + totalInterest.toLocaleString('en-IN', {maximumFractionDigits: 0}); document.getElementById("resTotal").innerText = "₹ " + maturityValue.toLocaleString('en-IN', {maximumFractionDigits: 0}); resultDiv.style.display = "block"; }

Understanding SBI NRE Fixed Deposits

A State Bank of India (SBI) Non-Resident External (NRE) Fixed Deposit is one of the most popular investment avenues for Non-Resident Indians (NRIs) looking to park their foreign earnings in Indian Rupees. These accounts offer competitive returns and significant tax advantages under Indian law.

Key Features of SBI NRE FDs

  • Tax-Free Status: The interest earned on an SBI NRE Fixed Deposit is completely exempt from income tax in India.
  • Full Repatriability: Both the principal amount and the interest earned are fully and freely repatriable to your country of residence.
  • Tenure Requirements: SBI NRE FDs must be held for a minimum period of 1 year. If the deposit is closed before completing 12 months, no interest is paid.
  • Joint Accounts: You can open these accounts jointly with other NRIs or with a resident Indian relative on a 'former or survivor' basis.

How the Calculation Works

SBI calculates interest on NRE Fixed Deposits on a quarterly compounding basis. This means that every three months, the interest earned is added back to your principal, and the next quarter's interest is calculated on this new, higher amount. This results in an "Effective Yield" that is slightly higher than the nominal yearly return rate.

Example Calculation

If you invest ₹5,00,000 in an SBI NRE FD for 3 years at a yearly return rate of 6.5%:

  • Principal: ₹5,00,000
  • Tenure: 3 Years (12 Quarters)
  • Yield Rate: 6.5% p.a.
  • Maturity Amount: Approximately ₹6,06,703
  • Total Wealth Gained: ₹1,06,703

Eligibility Criteria

To open an SBI NRE FD, you must be a Non-Resident Indian (NRI) or a Person of Indian Origin (PIO). You will typically need to provide your passport copies, visa details, overseas address proof, and PAN card. Since these accounts are maintained in Indian Rupees, your foreign currency is converted to INR at the prevailing exchange rate at the time of deposit.

Important Note: While the interest is tax-free in India, it may be subject to taxation in your country of residence depending on local laws and Double Taxation Avoidance Agreements (DTAA). Always consult with a tax professional in your home country.

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