SBI Fixed Deposit Monthly Scheme Calculator: Your Complete Guide

Is Your Money Actually Working for You?

Let's be honest — most of us park our savings in a regular savings account and forget about it. But did you know that your money could be earning you a steady monthly income instead of just sitting idle?

If you've been searching for the SBI Fixed Deposit Monthly Scheme Calculator, chances are you're already thinking in the right direction. Whether you're a salaried professional looking for passive income, a retiree who wants regular cash flow, or simply someone who wants to understand how FDs work — this guide is written just for you.

The State Bank of India (SBI) is India's largest public sector bank, and its Fixed Deposit schemes are among the most trusted investment options in the country. With the help of a smart online calculator, you can instantly figure out how much monthly interest you'll earn, how long it takes to double your money, and which scheme suits your financial goals best.

Let's break it all down in simple, plain language — no jargon, no confusion.

What Is a Fixed Deposit Account? A Beginner's Explanation

Before we talk calculators and schemes, let's answer the most basic question: what is a fixed deposit account?

A Fixed Deposit (FD) is a financial instrument offered by banks where you deposit a lump sum amount for a fixed period at a predetermined interest rate. Unlike a savings account, the interest rate doesn't fluctuate — you know exactly what you'll get at the end of the tenure.

Think of it like this: you lend money to the bank for a specific period, and in return, the bank pays you interest. Simple, right?

Here's what makes FDs special:

• Guaranteed returns — no market risk
• Flexible tenures — from 7 days to 10 years
• Multiple payout options — monthly, quarterly, or at maturity
• Tax-saving options — 5-year FDs qualify for deductions under Section 80C

For retirees and conservative investors especially, FDs are a cornerstone of financial planning. And SBI, being a government-backed institution, adds an extra layer of trust and security to the mix.

What Is the SBI Fixed Deposit Monthly Scheme Calculator?

The SBI Fixed Deposit Monthly Scheme Calculator is a free online web app tool that helps you calculate the interest you'll earn on your FD investment — specifically for those who want monthly interest payouts rather than a lump sum at the end.

Instead of manually crunching numbers, you simply enter:

1. Principal Amount — the amount you want to deposit
2. Rate of Interest — based on the current SBI FD rates
3. Tenure — how long you want to keep the FD

The calculator instantly shows you:

• Monthly/Quarterly/Half yearly/Yearly interest income
• Total interest earned over the full tenure
• Maturity amount (for cumulative FDs)

This web app is especially useful for people who want to plan their monthly budget around a predictable interest income. For retirees or anyone relying on investment income, knowing your monthly earnings in advance is incredibly empowering.

How to Use the SBI FD Monthly Scheme Calculator (Step-by-Step)

Using the calculator is genuinely easy — even if you've never used a financial tool online before. Here's a walkthrough:

Step 1: Enter Your Principal Amount

This is the total amount you plan to deposit. For example, ₹5,00,000 or ₹10,00,000. Most SBI FDs start from as low as ₹1,000.

Step 2: Select the Interest Rate

SBI revises its FD interest rates periodically. As of 2026, the rates range roughly between 3.05% to 6.45% per annum for regular citizens, and senior citizens get an additional 0.50% over standard rates. Always use the latest rate when calculating.

Step 3: Choose Your Tenure

FD tenure can range from 7 days to 10 years. For monthly income schemes, longer tenures generally make more sense as they stabilize your income over time.

Step 4: Select Payout Option

Choose "Monthly Interest Payout" if your goal is regular income. Choose "Cumulative" if you prefer reinvesting your interest for higher maturity value.

Step 5: Hit Calculate

The tool immediately displays your monthly interest, total interest, and if applicable, maturity amount. You can tweak the numbers as many times as you like to find your ideal investment plan.

SBI New Fixed Deposit Scheme: What's Changed Recently?

SBI regularly revises its FD offerings to stay competitive. The SBI new fixed deposit scheme options in 2024 reflect the current high-interest-rate environment in India, making FDs more attractive than they've been in years.

Here's a quick snapshot of the key SBI FD schemes currently available:

SBI Regular Fixed Deposit

The standard product — available to all customers, with tenures from 7 days to 10 years. Interest can be received monthly, quarterly, or at maturity.

SBI Tax Saving Fixed Deposit (Amrit Kalash)

A 5-year lock-in FD that qualifies for tax deduction under Section 80C. Maximum deposit of ₹1.5 lakh per year. No premature withdrawal allowed.

SBI Special FD for Senior Citizens

Senior citizens earn an extra 0.50% over and above the regular rate, which can make a significant difference on larger deposits. This is specifically designed to help retirees generate better monthly income.

SBI Wecare Deposit

An additional 0.50% benefit (over and above the senior citizen rate) for existing senior citizen FD holders — especially helpful for generating a higher monthly payout.

SBI Multi Option Deposit Scheme (MODS)

A unique scheme that combines the benefits of a savings account with the returns of an FD. Highly liquid with auto-sweep features.

SBI FD Interest Rates Table (2026)

Here's a general reference table to give you an idea of how rates are structured. Always verify the latest rates directly on SBI's official website before investing.

Note: These are indicative rates. Please check SBI's official website for current rates.

Practical Example: Calculating Monthly Income From SBI FD

Let's make this real with a practical example.

Scenario: You have ₹25,00,000 (25 lakhs) to invest. You want monthly interest payouts from SBI's 2-year FD at 7.00% per annum.

Calculation:

Monthly Interest = (Principal × Rate × Tenure) ÷ (12 × 100)

= (25,00,000 × 7.00 × 1) ÷ (12 × 100)

= 1,75,00,000 ÷ 1200

= ₹14,583 per month

So you'd receive approximately ₹14,583 every month without touching your principal. Over 2 years, your total interest would be ₹3,50,000.

Using the SBI Fixed Deposit Monthly Scheme Calculator, you can tweak this instantly — increase the principal, try different rates, or experiment with tenures — to see how your monthly income changes.

What About 1 Crore Fixed Deposit Interest Per Month?

This is one of the most searched questions in India right now, and for good reason. Many retirees and wealthy individuals specifically want to know: how much monthly interest can I earn from 1 crore fixed deposit?

Let's calculate it:

At 7.00% per annum on ₹1,00,00,000 (1 crore):

Monthly Interest = (1,00,00,000 × 7.00) ÷ (12 × 100)

= ₹58,333 per month

At 7.10% per annum (for a specific tenure with senior citizen rates at ~7.50%):

= (1,00,00,000 × 7.50) ÷ (12 × 100)

= ₹62,500 per month

So, a 1 crore fixed deposit at SBI can generate anywhere between ₹55,000 to ₹65,000 per month depending on the applicable rate and tenure. For retirees, this can essentially replace a monthly salary — completely risk-free.

That's the power of large-corpus FD investing, and the reason why this calculation is so important for financial planning.

SBI FD Double Scheme: When Does Your Money Double?

The SBI FD double scheme isn't a standalone named product — rather, it refers to understanding at what tenure your cumulative FD investment will double through compound interest.

The simple formula to find this is the Rule of 72:

Doubling Period = 72 ÷ Annual Interest Rate

For example, at 7.00% per annum:

Doubling Period = 72 ÷ 7 = approximately 10.28 years

At 7.20% per annum:

Doubling Period = 72 ÷ 7.20 = approximately 10 years

So if you invest ₹5,00,000 in a cumulative SBI FD at 7.20%, your investment will grow to approximately ₹10,00,000 in about 10 years — without you doing anything at all.

For investors who don't need monthly income right now but want to build wealth steadily, this compounding effect in cumulative FDs is incredibly powerful.

Key Benefits of Using the SBI FD Monthly Scheme Calculator

Let's look at why this web app tool should be part of your investment planning process:

• Instant results — no waiting, no manual math errors
• Try multiple scenarios — compare different amounts, tenures, and rates side by side
• Plan your monthly budget — know exactly what income to expect
• Completely free — no sign-up, no payment, no hidden charges
• Mobile-friendly — use it on your phone, tablet, or desktop
• Senior citizen rate comparison — toggle between regular and senior rates to see the difference
• Helps avoid over-investment — see if your expected return meets your income goal before committing
• Great for tax planning — calculate post-TDS income (since TDS applies on FD interest above ₹40,000 per year)

Important Tips Before You Invest in an SBI FD

Using the calculator is just one part of the process. Here are some practical tips to make the most of your FD investment:

Tip 1: Ladder Your FDs

Instead of putting everything into one FD, split your investment across multiple FDs with different maturities. This gives you liquidity at regular intervals and reduces the impact of rate changes.

Tip 2: Compare Senior Citizen Rates Separately

If you or your spouse is above 60, always check the senior citizen rate. That extra 0.50% on a large principal can translate into thousands of rupees more per month.

Tip 3: Declare Form 15G/15H to Avoid TDS

If your total income is below the taxable limit, submit Form 15G (below 60 years) or Form 15H (above 60 years) to SBI. This prevents TDS from being deducted at source.

Tip 4: Reinvest Interest for Compounding

If you don't need monthly income right now, opt for the cumulative option. The interest gets reinvested, and compounding works in your favor over time.

Tip 5: Keep Nominee Details Updated

Always update your nominee in the FD account. In case of an unfortunate event, it simplifies the claim process for your family significantly.

Tip 6: Don't Break FDs Prematurely If Avoidable

Premature withdrawal comes with a penalty (usually 0.50–1.00% less than the applicable rate). Instead, if you need funds, consider taking an overdraft against your FD — SBI offers this facility.

Who Should Use the SBI Fixed Deposit Monthly Scheme Calculator?

This tool is genuinely useful for a wide range of people:

Retirees — If you've accumulated savings over your working life and want a predictable monthly income without touching your principal, the monthly FD calculator helps you figure out the exact corpus you need.

Salaried Professionals — If you have a lump sum from a bonus, inheritance, or property sale and want to put it to work immediately, this tool helps you decide the right tenure and amount.

Parents Planning for Children — If you want to create a dedicated fund for your child's education that matures at the right time, FD calculators help you backward-plan from the target amount.

Business Owners — Parking short-term surplus funds in an FD rather than a current account generates passive interest income without locking up funds for too long.

Senior Citizens Specifically — The additional 0.50% benefit means senior citizens should always calculate their numbers separately. Even on ₹20 lakhs, that extra 0.50% amounts to ₹1,000 more per month.

How Is Monthly Interest Calculated on SBI FD? The Formula Explained

For those who like to understand the math behind the calculator, here's how monthly interest is computed:

For Simple Interest (Non-Cumulative/Monthly Payout):

Monthly Interest = (P × R × T) / (12 × 100)

Where:

• P = Principal amount
• R = Annual rate of interest
• T = Tenure in years (use T = 1 for monthly calculation)

For Compound Interest (Cumulative FD):

A = P × (1 + R/n)^(n×T)

Where:

• A = Maturity amount
• n = Number of times interest is compounded per year (quarterly for most SBI FDs)
• T = Tenure in years

The web app calculator handles both these formulas automatically in the background — so you don't have to worry about the math. Just enter your values and let the tool do the work.

Common Mistakes People Make With FD Investments

Learning from others' mistakes can save you a lot of money:

Not Comparing Rates Across Tenures — Sometimes a 400-day tenure offers better rates than a 1-year or 2-year FD. Always check all tenures, not just the round numbers.

Ignoring TDS Impact — Your displayed interest rate is pre-TDS. If your income is taxable, your actual take-home monthly interest will be lower. Use the calculator with that in mind.

Putting All Eggs in One FD — One big FD feels simple, but laddering your deposits gives you more flexibility and liquidity.

Forgetting to Renew on Time — If you let an FD auto-renew at the bank's discretion, you might get a lower rate. Always track maturity dates and renew intentionally.

Not Considering Inflation — FD returns at 7% look great, but if inflation is at 6%, your real returns are only 1%. FDs should ideally be part of a balanced portfolio, not your entire strategy.

FAQs: SBI Fixed Deposit Monthly Scheme Calculator

Q1. What is the SBI Fixed Deposit Monthly Scheme Calculator?

It's a free online web app tool that calculates your monthly interest income based on the principal amount, interest rate, and tenure you enter. It helps investors and retirees plan their income from SBI FD investments without manual calculations.

Q2. How much monthly interest will I get on ₹10 lakh FD in SBI?

At 7.00% per annum on ₹10,00,000: Monthly Interest = (10,00,000 × 7.00) ÷ (12 × 100) = ₹5,833 per month

Senior citizens at 7.50% would receive ₹6,250 per month on the same deposit.

Q3. What is the SBI FD double scheme and how long does it take?

SBI doesn't have a product explicitly named "FD Double Scheme," but through the Rule of 72, a cumulative FD at 7.20% per annum will approximately double your investment in 10 years. The higher the interest rate, the faster your money doubles.

Q4. How much monthly income can I expect from a 1 crore fixed deposit in SBI?

On ₹1,00,00,000 at 7.00% per annum, you'll earn approximately ₹58,333 per month. Senior citizens at 7.50% per annum would earn approximately ₹62,500 per month.

Q5. Is TDS deducted on SBI FD monthly interest?

Yes. SBI deducts TDS at 10% if your total FD interest in a financial year exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G or 15H if your income is below the taxable threshold to avoid TDS deduction at source.

Q6. What is the minimum amount required to open a monthly income FD at SBI?

SBI allows FDs with a minimum deposit of ₹1,000. However, for meaningful monthly income, most investors opt for a principal of at least ₹5 to ₹10 lakhs or more.

Conclusion: Start Planning Your FD Income Today

Whether you're saving for retirement, building a passive income stream, or simply trying to make your idle money work harder — the SBI Fixed Deposit Monthly Scheme Calculator is one of the most practical financial tools you can use right now.

It removes the guesswork entirely. In under 60 seconds, you'll know exactly how much monthly income to expect from any deposit amount. That clarity is incredibly valuable when you're making investment decisions that affect your financial security.

From understanding what a fixed deposit account is, to exploring the SBI new fixed deposit scheme options, to calculating 1 crore fixed deposit interest per month — this guide has covered everything you need to make an informed decision.

And if you're wondering about the SBI FD double scheme, remember: time and compounding are your best friends. The earlier you start, the more powerful the results.

Ready to calculate your monthly FD income? Open the SBI FD Monthly Scheme Calculator right now, plug in your numbers, and take the first step toward a predictable, stress-free financial future.

Have questions about your specific investment situation? Drop them in the comments below — we read every single one.