How much interest will you earn on an SBI FD? Check the new rates.

SBI FD Interest Rates: There is important news for the customers making fixed deposits i.e. FD in the country’s largest government bank State Bank of India (SBI). If you want to earn fixed interest by investing your savings safely, then SBI’s FD can be an option. The bank offers different interest rates to general customers and senior citizens. The special thing is that investors aged 60 years or above get additional interest compared to normal customers. In October 2026, the bank’s interest rates on general retail FD of less than Rs 3 crore range from 3.05 percent to 6.40 percent per annum. At the same time, senior citizens are getting interest ranging from 3.55 percent to 7.05 percent. In such a situation, before making an FD, it is important to know how much interest will be received in which period and how much amount will be received after the completion of the investment period.
What is the difference in interest rates for general and senior citizens?
There is a difference in the FD interest rates of general customers and senior citizens in SBI. In most of the general retail FD schemes of the bank, senior citizens get 0.50 percentage point additional interest. However, due to the special ‘SBI V-Care’ facility in FDs of five years to ten years, this difference reaches one percentage point. This means that if a general customer gets 6 percent interest on an FD of any period, then the senior citizen can get the benefit of a higher rate for the same period. The benefit of additional interest can be especially useful for retirees who want to generate regular income from their savings or prepare funds for future expenses.
SBI FD interest rates in October 2026
As per the rates available on the official website of SBI, the following interest rates are applicable on general retail FDs of less than Rs 3 crore.
FD Period General Citizen Senior Citizen
7 to 45 days 3.05% 3.55%
46 to 179 days 4.90% 5.40%
180 to 210 days 5.65% 6.15%
211 days to less than 1 year 5.90% 6.40%
1 year to less than 2 years 6.25% 6.75%
2 years to less than 3 years 6.40% 6.90%
3 years to less than 5 years 6.30% 6.80%
5 to 10 years 6.05% 7.05%
These rates are annual. The senior citizen rate for five to ten years includes the additional benefit of V-Care. Source: SBI official rate list, updated as of October 19, 2026.
How much interest will be given on FD of Rs 1 lakh?
Suppose an ordinary customer deposits an FD of Rs 1 lakh in SBI for one year. In the example of current 6.25 percent annual interest rate and quarterly compounded interest, he can get approximately Rs 1,06,398 on maturity. That is, the interest income in a year will be around Rs 6,398. Whereas, if a senior citizen deposits the same amount for a year, then he will get approximately Rs 6.75 percent interest income. One can get Rs 1,06,923. In this way the senior citizen will get additional interest of around Rs 525. This example is based on cumulative FD and quarterly compounded interest. The actual maturity amount may vary slightly as per the date of deposit, period and applicable calculation rules.
Big benefit to senior citizens in five year FD
If a person wants to deposit money for a long period, then he can also look at the option of a five-year FD. On SBI’s five to ten year FD, general customers are getting 6.05 percent annual interest. In comparison, senior citizens get up to 7.05 percent interest. In the example of a cumulative FD of Rs 1 lakh, a general customer can get approximately Rs 1.35 lakh after five years. Whereas, a senior citizen can get approximately Rs 1.42 lakh. This means that for the same amount and tenure, a senior citizen can get around Rs 7,000 more. However, this calculation is before tax and the actual benefit will depend on the terms of the FD.
Additional benefits for those above 80 years of age
SBI has also provided a special facility for Super Senior Citizens i.e. customers aged 80 years and above. Under the bank’s ‘SBI Patrons’ facility, eligible Super Senior Citizens get an additional 0.10 percentage point interest rate above the applicable interest rate for senior citizens. However, this benefit is not available in all types of deposit schemes. The bank has extended this facility to recurring deposits, tax saving FDs, certain special deposit schemes and non-callable FDs. Excluded from additional benefits. Therefore, customers above 80 years of age must check the terms and conditions of the concerned scheme before making FD.
444 days Amrit Vrishti FD is also an option
SBI also gives customers the option of special tenure Amrit Vrishti FD. The tenure of this scheme is 444 days. According to the official information of the bank, its interest rate for general customers is 6.45 percent per annum. Related additional interest benefits may be applicable for senior citizens and super senior citizens. The specialty of this scheme is that investors can deposit their money for a period of a little more than a year. However, before investing, it is important to compare the returns between normal FD and special period FD.
Tax on FD and rules for premature withdrawal of money
Before making an FD in SBI, it is important to understand the rules related to income tax on interest and premature withdrawal. The interest received from FD is generally included in the taxable income of the investor. According to the applicable income tax provisions, the bank can deduct tax at source i.e. TDS if the interest received exceeds the prescribed limit in a financial year. Apart from this, the bank can impose prescribed penalty on withdrawal of the amount before the completion of the FD period. Therefore, the investor