Estimate your maturity amount based on current State Bank of India Recurring Deposit rates.
Total Principal Invested:₹ 0
Estimated Yield Gains:₹ 0
Final Maturity Amount:₹ 0
Understanding SBI Recurring Deposits
A Recurring Deposit (RD) with the State Bank of India is a popular financial instrument that encourages disciplined savings. Unlike a Fixed Deposit where you invest a lump sum, an RD allows you to deposit a fixed amount every month over a chosen period. SBI calculates the returns based on quarterly compounding, which helps your savings grow faster over long durations.
How SBI RD Calculations Work
SBI uses the standard formula for Indian RDs, which accounts for the frequency of compounding (quarterly). The formula applied in this calculator is:
M = R × [(1 + i)^n – 1] / [1 – (1 + i)^(-1/3)]
Where:
M: Maturity Value
R: Monthly Installment
n: Number of quarters
i: Quarterly Rate of Return / 100
Current SBI RD Rate Trends (Representative)
Tenure Range
General Public (%)
Senior Citizens (%)
1 Year to < 2 Years
6.80%
7.30%
2 Years to < 3 Years
7.00%
7.50%
3 Years to < 5 Years
6.75%
7.25%
5 Years and up to 10 Years
6.50%
7.50%
Example Calculation
If you save ₹10,000 per month in an SBI RD for 12 months (1 year) at a rate of 6.80%:
Total Investment: ₹1,20,000
Maturity Value: Approx. ₹1,24,502
Total Gains: ₹4,502
Key Features of SBI RD
1. Minimum Deposit: You can start with as little as ₹100 per month.
2. Flexible Tenure: Choose between 12 months to 120 months.
3. Premature Withdrawal: SBI allows premature closure, though a small penalty on the applicable rate usually applies.
4. Loan Facility: You can avail of loans or overdrafts against your RD balance (up to 90%).
function calculateSBIRD() {
var p = parseFloat(document.getElementById('monthlyAmount').value);
var n = parseFloat(document.getElementById('rdTenure').value);
var r = parseFloat(document.getElementById('yieldRate').value);
if (isNaN(p) || isNaN(n) || isNaN(r) || p <= 0 || n <= 0 || r <= 0) {
alert("Please enter valid positive numbers in all fields.");
return;
}
// SBI uses quarterly compounding for RD
// Formula: M = R * [(1+i)^n – 1] / [1 – (1+i)^(-1/3)]
// Where i = rate/400
var i = r / 400;
var maturityAmount = p * (Math.pow(1 + i, n) – 1) / (1 – Math.pow(1 + i, -1/3));
var totalInvested = p * n;
var totalGains = maturityAmount – totalInvested;
document.getElementById('resTotalInvested').innerText = "₹ " + totalInvested.toLocaleString('en-IN', {maximumFractionDigits: 0});
document.getElementById('resTotalGains').innerText = "₹ " + totalGains.toLocaleString('en-IN', {maximumFractionDigits: 0});
document.getElementById('resMaturity').innerText = "₹ " + maturityAmount.toLocaleString('en-IN', {maximumFractionDigits: 0});
document.getElementById('rdResultBox').style.display = 'block';
}