SBI Recurring Deposit Interest Rates | SBI RD Calculator

The SBI RD Calculator 2017 is here. Do you want to know your Recurring Deposit maturity amount? Here, you can know your RD Maturity amount through SBI RD Calculator. Find the SBI Latest interest rates and tenure period. Read the complete article, to know the SBI Interest rates and the usage of the calculator.

Recurring Deposit

The main use of Recurring Deposit is to save the money. It is one of the best savings schemes. The interest rates are also high compared to the other savings. Most of the people are choosing RD for saving their money. It is very safe for you to save your money in banks. Before investing your money in banks, everyone should know the interest rates and tenure period. For Recurring Deposits, Some banks offer higher interest rates and some offers low-interest rates.

The individuals can also calculate their Recurring Deposit Maturity amount. By using RD Calculator, you can know your maturity amount. You can also check your investment amount by using RD Installment Calculator. Everyone should know the interest rates and tenure period before investing in Recurring Deposit. There are many advantages with the Recurring Deposit. People should know the benefits of Recurring Deposit before investing the amount.

SBI RD Calculator

SBI RD Interest Rates

Tenure Period Interest Rate

(per annum)

Interest Rate

(per annum)

1 year to 455 days 6.90 7.40
456 days to less than 2 years 6.95 7.45
2 years to less than 3 years 6.85 7.35
3 years to less than 5 years 6.50 7.00
5 years and up to 10 years 6.50 7.00

SBI Flexi Interest Rates

Tenure Period 5 years to 7 years
Existing Interest Rate for Public 7.25%
Revised Interest Rate for Public 7.00%
Existing Interest Rate for Senior Citizens 7.50%
Revised Interest Rate for Senior Citizens 7.25%

The Latest interest rates of SBI along with the tenure periods are given in above tables. Therefore, the interested candidates can check the above tabular columns to know the interest rates. We are also providing the steps for the usage of the RD Calculator in the below sections. So, follow the below sections to know about RD Calculator and its uses.

How to Use SBI RD Calculator

The candidates who don’t know the usage of the SBI RD Calculator can learn here. There are many uses with RD Calculator. You can calculate your Recurring Deposit maturity amount by using RD Calculator. We had provided some simple steps in below sections. Therefore, the users can follow them to know the usage of the SBI RD Calculator.

  • Go to the official website.
  • Search for the SBI RD Calculator.
  • The SBI Recurring Deposit Calculator appears on the screen.
  • Enter the necessary details like investment amount, tenure period, interest rate.
  • Select the compounding which includes quarterly, half yearly, monthly and annually interest rates.
  • After entering all the details, click on the calculate button.
  • Finally, your Recurring Deposit Maturity amount appears on the screen.
Calculate SBI RD Here

Recurring Deposit Schemes – SBI

The SBI is one of the leading banks in India. It attracts the people with its offers and interest rates. One of the best schemes in State Bank of India is Recurring Deposit. Every individual can open a new account in SBI with Rs.100. The Deposit terms in SBI is ranging from 12 months to 10 years. Premature withdrawals are available in SBI, but you have to bear some penalty. There are many schemes in Recurring Deposit. Some of them are given below. Therefore, the interested people can see the below information to know about SBI Recurring Deposit Schemes.

SBI Short Term Recurring Deposit

  • SBI Bank offers Short Term Deposits starting from 12 months to 455 days.
  • The interest rate is 6.90%  for regular depositors.
  • For short duration or more than 455 days and below 2 years, the SBI interest rates is 6.95%.

 Medium Term -SBI Interest Rates

  •  Medium Term in SBI is ranging from 3 years to less than 5 years.
  • The State Bank of India interest rate for the medium term is 6.50%.

SBI Long Term Deposit

  • The Long Term Deposit in SBI is starting from 5 years to more than 5 years.
  • The maximum tenure period in SBI Long-term Deposit is not more than 10 years.
  • The interest rate of Long-term deposit is 6.50%.

SBI – Senior Citizens Interest Rates

  • Most of the banks offer more interest rates for senior citizens.
  • State Bank of India is also offering high-interest rates for senior citizens.
  • The Senior citizen’s interest rate is 7.40%, and in additional with that interest rate, they will receive 0.50% higher than the regular depositors.
  • If in a case of Short-term ranging from 1 year to 455 days, the interest rate is 7.45%.
  • In medium term and long term deposit which is more than 3 years to less than 10 years, the interest rates for senior citizens is 7.00%.

Features & Benefits of SBI

The Recurring Deposit has many advantages and features. For the sake of people, we are providing some features in the below sections. So, follow the below sessions to know more details about SBI Recurring Deposit.

Monthly Limits:
  • In State Bank of India, the users have to deposit Rs.500 at any time.
  • There is no limit for the deposits in SBI.
  • You can do a number of Deposits as per your convenience in a month.
Annual Limits:
  • In SBI, you can save up to Rs.50,000 in a year.
  • Every year, you have to save a minimum deposit of Rs.5000.
  • The Flexi Recurring Deposit Scheme does not allow you to save more than Rs.50,000.
Tenure Period:
  • You can open a new deposit for a minimum period of 5 years.
  • The users have to maintain your deposit for a maximum of 7 years.
Loan Facility:
  • State Bank of India is offering loans on Recurring Deposit.
  • All the Recurring Deposit Account Holders can apply for loans against RD maturity amount.
Nomination Facility:
  • SBI accepts nominations for Recurring Deposit.
  • Only one person can be a nominee for one Recurring Deposit Account.
  • After the death of the RD Account holder, the nominee can take the Recurring Deposit Maturity amount.
Default Payments:
  • Every year Rs.50 will be charged by default from a minimum deposit of Rs.500.
Interest:
  • The interest rates depend on the tenure period and the term deposits.
  • The compound interest rate is calculated on the basis of quarterly, half yearly, annually and monthly.
Premature Withdrawals:
  • The premature withdrawals can be done before the completion of the tenure period.
  • The interest rate is dropped down to 0.50% because of the premature withdrawals.
  • To receive the full interest rate, you have to withdrawal the Recurring Deposit maturity amount after the completion of the tenure period of the RD Account.
Updated: March 18, 2017 — 9:11 am

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