SBI RD Calculator

State bank of India is an Indian multinational, public sector banking and financial services company, headquartered in Mumbai. The tenure duration for the SBI Recurring Deposit would range between 12 to 120 Months. Minimum of Rs. 100 can be deposited as monthly installment. The interest rate of the RD lies between 7% to 7.25%. Enter the principal, number of terms in this online SBI RD Calculator to calculate the interest rate and recurring deposit value.

SBI Recurring Deposit Calculation

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State bank of India is an Indian multinational, public sector banking and financial services company, headquartered in Mumbai. The tenure duration for the SBI Recurring Deposit would range between 12 to 120 Months. Minimum of Rs. 100 can be deposited as monthly installment. The interest rate of the RD lies between 7% to 7.25%. Enter the principal, number of terms in this online SBI RD Calculator to calculate the interest rate and recurring deposit value.

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Formula:

D = p x (( (1+ i)n)-1) / (1-((1 + i)(-1 / 3))) Where, d = Recurring Deposit p = Principal i = Interest / 400 n = No of Terms

Example:

A 45 year old person invested a principal amount of Rs. 15000 for 15 months in SBI. His SBI Recurring Deposit can be calculated,

Solution:

D = p x (( (1+ i)n)-1) / (1-((1 + i)(-1 / 3)))
= 15000 x (( (1+ 7.25)15) -1) / (1- ((1 + 7.25)( -1 / 3)))
= Rs. 236118.9074


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