Safe and regular income means are very important for the elderly. After retirement When there is no permanent source of monthly income, then Fixed Deposit (FD) Schemes become a great option. India’s largest government bank, State Bank of India (SBI) has fixed special interest rates on FD for senior citizens, which can give them a lot of interest every month.
Elderly by investing in this scheme Interest from ₹ 10,000 to ₹ 50,000 every month Can earn, so that their economic condition remains strong. SBI FD Schemes Not only are safe for the elderly, but the interest rates are also higher than that of normal customers. Investing in FD, capital is safe and every month the fixed interest amount comes directly to the account.
This is the reason why millions of senior citizens SBI FD Schemes Like In this article we will know in detail that SBI FD scheme for elderly How beneficial is beneficial, how much interest rate is available in it, how much interest will be received on investing, and all the necessary information related to it.
SBI FD Yojana for senior citizens:
SBI’s fixed deposit (FD) scheme is specially designed for senior citizens. Citizens of 60 years or above can invest in it. SBI gives senior citizens 0.50% more interest than normal customers. In 2025, senior citizens are receiving annual interest rates from 4.00% to 7.75% on SBI FD, which depends on the duration and amount of investment.
In this scheme you can start FD from at least ₹ 1,000 and there is no maximum limit. The duration of FD ranges from 7 days to 10 years. If you want, you can take interest on monthly, quarter, half -year -old or annual basis. On choosing a monthly interest option, a fixed amount comes to your account every month, which ensures your monthly income.
SBI FD Scheme for the elderly
| Speciality | Description |
|---|---|
| Name of the scheme | SBI Senior Citizen Fixed Deposit Scheme |
| Minimum investment amount | ₹ 1,000 |
| Maximum investment amount | No limit |
| Interest Rate (2025) | 4.00% to 7.75% per year |
| FD period | 7 days to 10 years |
| Monthly interest option | Available |
| Premature closure | Available (with penalty) |
| Nomination facility | Available |
| Auto-renewal facility | Available |
| Interest payment option | Monthly, quarter, half, annual |
| FD for whom | Indian citizens aged 60 years or older |
SBI FD interest rates 2025: Interest rate for senior citizens
| Duration | Interest Rate (FD <₹ 3 Crore) |
|---|---|
| 7 days to 45 days | 4.00% |
| 46 days to 179 days | 6.00% |
| 180 days to 210 days | 6.75% |
| 211 days less than 1 year | 7.00% |
| Less than 1 year to 2 years | 7.30% |
| Less than 2 years to 3 years | 7.50% |
| Less than 3 years to 5 years | 7.25% |
| From 5 years to 10 years | 7.50% |
Note: Interest rates vary from time to time. The interest rate may vary if the FD amount exceeds ₹ 3 crore.
How much interest will be received every month?
If you FD with the option of monthly interest, then the interest received every month according to your investment and interest rate will be as follows:
Interest calculation for example
| investment amount | Interest Rate (7.50%) | Monthly interest (approx) |
|---|---|---|
| 1 16 lakhs | 7.50% | ₹ 10,000 |
| 32 million | 7.50% | ₹ 20,000 |
| 48 million | 7.50% | ₹ 30,000 |
| 64 million | 7.50% | ₹ 40,000 |
| 80 million | 7.50% | ₹ 50,000 |
How to calculate:
Monthly interest = (investment amount × interest rate) / 12
Example:
If you ₹ 16,00,000 FD 7.50% Annual Interest If at the rate, then
Monthly interest = (16,00,000 × 7.5%) / 12 ≈ ₹ 10,000
Note: The total interest on choosing a monthly interest option may be slightly lower than the annual option, as the bank gives a slightly lower rate on monthly payment. Nevertheless, the above figures are based on average.
Benefits of SBI FD scheme for the elderly
- Safe investment: Money is completely safe in a government bank.
- More interest: 0.50% more interest than normal customers.
- monthly income: Regular income every month from monthly interest option.
- Premature closure: FD can close prematurely (with penalty) if needed.
- Nomination facility: Nominees can add to FD.
- Auto-Renual: Automatic renewal facility when FD matures.
- Starting at least ₹ 1,000: Easy even for small investors.
How to invest in SBI FD scheme?
- Online: You can open FD sitting at home with SBI’s net banking or mobile app.
- Branch: You can start FD by filling the form by going to the nearest SBI branch.
- Necessary documents:
- Aadhar card
- PAN card
- Address proof
- Passport Size Photo
- Age proof (for senior citizen)
Important questions and answers related to the scheme
1. Is FD tax levied?
Yes, if the annual interest is more than ₹ 50,000 then the TDS deducts. TDS will not be cut when the 15H form is filled (if the total income tax is less than the slab).
2. Can FD be closed prematurely?
Yes, but there is some penalty on the premature closure.
3. Can you get a loan in FD?
Yes, there is an overdraft or loan facility instead of FD.
4. Can FD be opened under the name FD joint?
Yes, both single or joint can open FD.
5. Do interest rates change?
Yes, the applied interest rate is valid when opening the new FD. The interest rate does not change in between.
SBI FD Scheme: Who can apply?
- Indian citizens aged 60 years or older
- Separate NRA/NRE FD schemes are available for NRI elders
Key things of SBI FD scheme for the elderly
- FD period from 7 days to 10 years
- Minimum investment starts from ₹ 1,000
- 0.50% additional interest to senior citizens
- Monthly, quarter, half, annual interest option
- Premature closure and nomination facility
- 5 year tax saver FD also available for tax exemption
SBI FD scheme disadvantages for the elderly
- Interest rates may decrease from time to time (for new FD)
- FD interest’s real return may be reduced if inflation rates higher
- Premature closure has penalty
- Taxable interest (TDS at more than ₹ 50,000)
Which period is the most beneficial?
- 2 to 3 years And 5 to 10 years The highest interest (up to 7.50%) is being received on K FD.
- Interest on short -term FD is low, interest is high on long term.
Application process
- Go to SBI branch or login online
- Fill FD form and submit the necessary documents
- Deposit the investment amount
- Choose FD Receipt and Interest Payment option
Monthly interest calculator
| investment amount | Interest rate | Monthly interest (approx) |
|---|---|---|
| 1 million | 7.50% | ₹ 6,250 |
| All 2.2 million | 7.50% | ₹ 12,500 |
| Above 3 million | 7.50% | ₹ 18,750 |
| 4 million rupees | 7.50% | ₹ 25,000 |
| ₹ 5 million | 7.50% | ₹ 31,250 |
Note: The bank gives a slightly lower interest rate in the monthly interest option, but the calculation above is based on the average. Use the bank’s website or FD calculator for the exact interest amount.
Tax saver fd
- Senior citizens also get additional interest on 5 -year tax saver FD.
- The amount of up to ₹ 1.5 lakh on this FD is tax free under Section 80C.
Necessary tips
- Be sure to read the interest rate and conditions before opening FD.
- Choose the duration of FD as per the requirement.
- Get regular income from monthly interest option.
- Choose 5 years tax saver FD for tax exemption.
- Take advantage of FD renewal facility.
Disclaimer: This article is written only for the purpose of information. “SBI’s magnificent FD scheme for the elderly, will be available every month from ₹ 10,000 to ₹ 50,000” is completely correct, but it depends on your investment and interest rate. SBI pays interest to senior citizens up to 7.75%, but to get ₹ 10,000 to ₹ 50,000 monthly interest, you have to invest in a large amount (₹ 16 lakh to ₹ 80 lakh or more) in FD. The interest rates on FD vary from time to time, and the total interest in the monthly interest option may be slightly lower than the annual option. Please check the interest rate and conditions on the bank’s official website before investing or contact the bank. Investment in FD is completely safe, but take care of tax and other conditions.
