State Bank of India Fixed Deposit Rates Calculator

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State Bank of India Fixed Deposit Calculator

Your Fixed Deposit Details

Enter the details above to see your maturity amount and interest earned.

Understanding Fixed Deposits (FDs) with SBI

A Fixed Deposit (FD) with the State Bank of India (SBI) is a popular investment option for individuals looking for safe and predictable returns. It allows you to deposit a lump sum of money for a fixed period at a pre-determined interest rate. At the end of the tenure, you receive your principal amount along with the accumulated interest.

Key Features of SBI Fixed Deposits:

  • Safety: FDs are considered one of the safest investment avenues, especially when invested with a reputable bank like SBI.
  • Fixed Returns: The interest rate is fixed for the entire duration of the deposit, providing certainty in your earnings.
  • Flexibility: SBI offers a wide range of tenure options, from a few days to several years, allowing you to choose based on your financial goals.
  • Liquidity: While it's a fixed deposit, SBI offers options for premature withdrawal, though it may attract a penalty.
  • Nomination Facility: You can nominate a beneficiary for your FD account.

How the Calculator Works:

This calculator helps you estimate the maturity amount and the total interest you can earn on your SBI Fixed Deposit. It uses the standard compound interest formula, compounded annually, to provide an estimate. Please note that actual returns may vary slightly based on SBI's specific compounding frequency and any applicable taxes or charges.

Formula Used:

Maturity Amount = P * (1 + r/n)^(nt)

Where:

  • P = Principal Amount (the initial deposit)
  • r = Annual Interest Rate (as a decimal, e.g., 5% becomes 0.05)
  • n = Number of times that interest is compounded per year (for this calculator, we assume n=1 for annual compounding)
  • t = Time the money is invested for in years (tenure in months / 12)

Interest Earned = Maturity Amount – Principal Amount

function calculateFixedDeposit() { var principalAmount = parseFloat(document.getElementById("principalAmount").value); var interestRate = parseFloat(document.getElementById("interestRate").value); var tenureMonths = parseFloat(document.getElementById("tenureMonths").value); var resultDiv = document.getElementById("result"); if (isNaN(principalAmount) || isNaN(interestRate) || isNaN(tenureMonths) || principalAmount <= 0 || interestRate < 0 || tenureMonths <= 0) { resultDiv.innerHTML = 'Please enter valid positive numbers for all fields.'; return; } var annualRateDecimal = interestRate / 100; var tenureYears = tenureMonths / 12; // Using annual compounding for simplicity as commonly presented for FDs // Maturity Amount = P * (1 + r)^t var maturityAmount = principalAmount * Math.pow(1 + annualRateDecimal, tenureYears); var interestEarned = maturityAmount – principalAmount; // Rounding to 2 decimal places for currency maturityAmount = maturityAmount.toFixed(2); interestEarned = interestEarned.toFixed(2); resultDiv.innerHTML = ` Principal Deposit: ₹${principalAmount.toFixed(2)} Annual Interest Rate: ${interestRate.toFixed(2)}% Tenure: ${tenureMonths} months (${tenureYears.toFixed(2)} years)
Estimated Maturity Amount: ₹${maturityAmount} Total Interest Earned: ₹${interestEarned} Note: This is an estimation. Actual amounts may vary based on SBI's specific terms and conditions. `; } .calculator-container { font-family: sans-serif; max-width: 700px; margin: 20px auto; padding: 25px; border: 1px solid #e0e0e0; border-radius: 8px; box-shadow: 0 2px 10px rgba(0,0,0,0.05); background-color: #ffffff; } .calculator-title { text-align: center; color: #003366; margin-bottom: 25px; font-size: 24px; } .calculator-inputs { display: grid; grid-template-columns: repeat(auto-fit, minmax(200px, 1fr)); gap: 20px; margin-bottom: 30px; padding: 20px; background-color: #f9f9f9; border-radius: 5px; } .input-group { display: flex; flex-direction: column; } .input-group label { font-weight: bold; margin-bottom: 8px; color: #333; font-size: 14px; } .input-group input[type="number"] { padding: 10px; border: 1px solid #ccc; border-radius: 4px; font-size: 16px; width: 100%; box-sizing: border-box; } .input-group input[type="number"]:focus { border-color: #007bff; outline: none; box-shadow: 0 0 0 2px rgba(0, 123, 255, 0.25); } .calculate-button { grid-column: 1 / -1; /* Span across all columns if grid layout is used */ padding: 12px 20px; background-color: #0056b3; color: white; border: none; border-radius: 4px; font-size: 18px; cursor: pointer; transition: background-color 0.3s ease; margin-top: 10px; } .calculate-button:hover { background-color: #003d80; } .calculator-results { margin-top: 25px; padding: 20px; border: 1px solid #e0e0e0; border-radius: 5px; background-color: #f0f8ff; } .results-title { color: #003366; margin-bottom: 15px; font-size: 20px; text-align: center; } #result p { margin-bottom: 10px; font-size: 16px; line-height: 1.5; color: #555; } #result hr { border: 0; height: 1px; background: #ccc; margin: 15px 0; } #result strong { color: #003366; } .calculator-explanation { margin-top: 30px; padding: 20px; background-color: #fdfdfd; border-top: 2px solid #003366; } .explanation-title { color: #003366; margin-bottom: 15px; font-size: 20px; } .calculator-explanation p, .calculator-explanation li { font-size: 15px; line-height: 1.6; color: #444; } .calculator-explanation strong { color: #003366; } .calculator-explanation ul { margin-left: 20px; margin-top: 10px; } .calculator-explanation li { margin-bottom: 8px; }

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