SBI-Saving-Calculator

SBI Saving Account Calculator

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This SBI Saving Account Calculator is an online personal finance tool to calculate the total maturity amount and the total effective yield based on the selection of monthly, quarterly, semi-annually, and annually compound frequencies, interest rates, and total time period of the deposited money in the Bank.

(Calculate your SBI saving maturity amount by using this Saving Calculator.)

Monthly Deposit Amount :
Rate of Interest :
Period (in Months) :
(fractions not allowed)
Frequency of Compounding :
Maturity Amount (Rs.) :
Invested Amount (Rs) :  
Wealth Gain (Rs) :  
Effective Yield in % :  

Note: The more frequent the interest is compounded, the higher the return or the future worth of your savings will be; For instance, the future value of savings with interest compounded at Monthly frequency (i.e., 12 times a year) will be higher than the same with interest compounded at quarterly (4 times a year) interval, which in turn is better than semi annual (twice a year) compounding.

SBI-Saving-Calculator

SBI Saving Calculator Variables:

This saving calculator uses five different investment variables that most of the calculator requires. These saving calculator variables are:

Monthly Deposit Amount: This is a fixed monthly amount that is invested in a saving scheme. This deposit amount varies from person to person and scheme to scheme.

Rate of Interest: The Rate of Interest is the variable of the saving calculator that appears as a percentage and is different for different types of saving options. SBI offers 2.75% p.a. up to 1 lakh (w.e.f. 19.04.2020) rate of interest on saving account.

Period of Investment: The length of the investment or period for the investment in months is another factor that plays a major role in the saving calculator. The longer investment increases the compounding of the returns and hence greater rewards are generated.

Maturity Amount: The desired or required amount that an investor wants at the end of the investment life cycle is known as the final amount or maturity amount.

Effective yield: The effective yield is that variable of the saving calculator that appears as a percentage and is used to compare the effectiveness of different types of saving options. This saving variable matters the most to the investors.

How SBI Saving Calculator Works?

Anyone can calculate his saving returns from the SBI account through an online saving calculator available on this page with high accuracy.

Following are the steps to calculate the saving returns through this calculator:

  • Step 1: Enter the fixed monthly amount that he wants to deposit every month.
  • Step 2: After this, fill the rate of interest that he gets from his bank or financial institution for the specified period. Different banks or financial institutions offer different rates of interest-based on the amount of investment and period of investment.
  • Step 3: The next step that one has to follow is to select the period for saving in months. It depends on saving option requirement for which he wants to stay invested.
  • Step 4: Thereafter choose the frequency of compounding. The frequency of compounding may be monthly, quarterly, half-yearly, or yearly.
  • Step 5: After submitting all variables required by saving a calculator, one will get the final maturity amount for investment query with effective yield.

Features of SBI saving account:

  • Mobile banking
  • SMS Alerts
  • Inter-Net banking
  • YONO
  • State Bank Anywhere
  • SBI Quick Missed call facility.
    • First 10 cheque leaves free in a financial year
    • Thereafter:
    • 10 Leaf Cheque Book at Rs 40/-+GST
    • 25 Leaf Cheque Book at Rs 75/-+GST
  • Restricted free withdrawals based on Monthly Average Balance maintained.
  • The facility of transfer of accounts through Internet Banking channel.
  • Nomination facility is Available
  • Monthly Average Balance: NIL
  • No limit on Maximum balance
  • A Pass Book is issued to record the transactions. Duplicate passbook can be issued if the original is lost, on payment of charges. The statement of accounts can also be sent through e-mail.

Eligibility to open SBI saving account:

All individuals/ Central/ State Govt Departments (if eligible to open SB accounts) such as:

  • Govt depts. /bodies/agencies in respect of grants, subsidies released for implementation of various programs/ schemes sponsored by Central Government/State Governments subject to production of an authorisation from the respective Govt depts to open Savings Bank account.
  • Development of Women and Children in Rural areas
  • Self-help groups, etc.
  • Mode of Operation: Single/Jointly/Either or Survivor/ Former or survivor, Later or survivor, etc.

You are here to calculate the maturity value of your money in SBI saving account. Calculate the maturity value with this online SBI saving account calculator. 

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