The State Bank of India (SBI) provides a fixed deposit (FD) calculator on its website to help you estimate the returns on your investment. Here are the steps to use the SBI FD calculator:
- Go to the SBI website and click on the “Deposits” tab.
- Select “Fixed Deposit” from the dropdown menu and click on “FD Calculator“.
- Enter the deposit amount, tenure, and interest rate in the respective fields.
- Choose the compounding frequency (quarterly, half-yearly, or annually) based on your preference.
- Click on “Calculate” to view the estimated maturity value of your FD.
Note that the interest rate on your FD will depend on the tenure and amount of your deposit. You can check the current interest rates on the SBI website or by contacting your nearest SBI branch. Keep in mind that the FD calculator is an estimate and the actual returns may vary depending on various factors.