SBI FD Interest Rates 2025: Senior Citizens Can Now Earn More on ₹3–₹9 Lakh – See Latest Rates!

SBI FD Interest Rates : As fixed deposits continue to be a preferred investment option among risk-averse individuals, the State Bank of India (SBI) has made it even more rewarding for senior citizens in 2025. With the latest revision in fixed deposit (FD) interest rates, those aged 60 and above can now earn attractive returns on deposits between ₹3 lakh and ₹9 lakh. This move by SBI aims to offer better financial security and consistent income to India’s growing senior citizen population.

Whether you’re planning for retirement, a medical contingency, or just want a secure investment option, the updated SBI FD interest rates for 2025 bring a compelling opportunity. Here’s everything you need to know about the latest rates, special schemes, and how you can benefit from them.

What’s New in SBI FD Rates 2025 for Senior Citizens?

SBI has increased the interest rates for fixed deposits in 2025, especially for senior citizens. The revised rates apply to deposits across different tenures and amounts, but the sweet spot lies in the ₹3–₹9 lakh range. With higher interest rates, senior citizens can enjoy better monthly or quarterly income, depending on their payout choice.

Key Highlights:

• Senior citizens get an additional 0.50% interest over regular rates.
• The “SBI Wecare” Deposit scheme continues in 2025 with enhanced benefits.
• Special rate slabs apply to deposits between ₹3 lakh and ₹9 lakh.
• Revised rates are effective from April 2025.

Updated SBI FD Interest Rates for Senior Citizens – April 2025

Here’s a detailed table showing the new interest rates for senior citizens across various tenures for deposits ranging from ₹3 lakh to ₹9 lakh:

Tenure	Regular Rate (Below 60 yrs)	Senior Citizen Rate (60+ yrs)	Effective Yield (Annualized)
7 days to 45 days	3.50%	4.00%	4.07%
46 days to 179 days	4.75%	5.25%	5.33%
180 days to 210 days	5.50%	6.00%	6.09%
211 days to 1 year	6.00%	6.50%	6.61%
1 year to 2 years	6.80%	7.30%	7.44%
2 years to 3 years	7.00%	7.50%	7.66%
3 years to 5 years	6.75%	7.25%	7.40%
5 years and up to 10 yrs	6.50%	7.00%	7.14%

Note: The above interest rates are applicable to Domestic Term Deposits (₹3 lakh to ₹9 lakh) and are subject to change as per bank discretion.

SBI Wecare Deposit Scheme – Still the Best Option?

The SBI Wecare Deposit Scheme, launched specifically for senior citizens, has been extended into 2025. This scheme offers an additional 0.30% interest on top of the 0.50% premium already available for senior citizens. It is available for tenures of 5 years and above.

Benefits of SBI Wecare:

• Total extra interest: 0.80% above the general customer rate.
• Specially designed for retirees seeking long-term income.
• Can be availed online or offline across all branches.
• Ideal for lump-sum investments post-retirement.

Tenure	Regular FD Rate	Senior Citizen Base Rate	SBI Wecare Rate
5 years to 10 years	6.50%	7.00%	7.30%

This scheme is highly recommended for senior citizens looking for guaranteed higher returns over a longer period.

Monthly Income Plans on ₹3–₹9 Lakh FD – What You Can Expect

For many senior citizens, monthly income is a crucial requirement. SBI’s FD interest payouts can be set on a monthly, quarterly, half-yearly, or annual basis. Here’s what your income could look like for a monthly payout option:

FD Amount	Tenure	Interest Rate	Monthly Interest Payout
₹3,00,000	2 years	7.30%	₹1,825
₹5,00,000	2 years	7.30%	₹3,042
₹7,00,000	2 years	7.30%	₹4,259
₹9,00,000	2 years	7.30%	₹5,475

*Interest payout shown is approximate and based on monthly interest (simple interest). TDS may apply if the total interest exceeds the annual limit.

How to Open an SBI Fixed Deposit for Senior Citizens

Opening an FD with SBI is simple and can be done both online and offline.

Online Method:

• Log into SBI Internet Banking or YONO App.
• Go to “Fixed Deposit” section.
• Choose “e-TDR/e-STDR for Senior Citizens.”
• Enter amount, tenure, and payout option.
• Confirm and submit.

Offline Method:

• Visit the nearest SBI branch with KYC documents.
• Fill out the FD application form.
• Submit Aadhaar, PAN card, and age proof.
• Deposit the desired amount via cheque or cash.

Things to Keep in Mind Before Investing

Investing in fixed deposits is safe, but certain points must be considered, especially for senior citizens:

• Premature Withdrawal: Penalty of 0.50% may apply depending on tenure.
• TDS Deduction: Interest above ₹50,000 per year is subject to TDS under Section 194A.
• Nomination Facility: Always add a nominee for safety.
• Auto-Renewal Option: Ensure to opt-in or out as per your preference.

Tax Implications on FD Interest for Senior Citizens

While FD interest is taxable, senior citizens enjoy certain benefits under the Income Tax Act.

Key Tax Benefits:

• Interest up to ₹50,000 in a financial year is tax-free under Section 80TTB.
• Submit Form 15H to avoid TDS deduction if your income is below the exemption limit.
• Senior citizens are eligible for higher basic exemption limits under the old regime.

Who Should Invest in SBI Senior Citizen FD?

This FD scheme is ideal for:

• Retired individuals seeking stable and safe income.
• Senior citizens who want to park surplus funds.
• Low-risk investors avoiding volatile options like equity.
• Pensioners looking to supplement income.

Is SBI FD in 2025 a Good Bet for Seniors?

Absolutely. With enhanced interest rates, safety, and flexible payout options, SBI’s FD schemes for senior citizens in 2025 offer an attractive investment avenue. Especially for those looking to invest between ₹3 lakh and ₹9 lakh, the returns are now even better, with schemes like SBI Wecare providing additional benefits.

However, it’s always advisable to compare rates across other banks and small finance banks, and keep liquidity needs in mind before locking in funds for long durations.

Interest rates mentioned in this article are subject to change as per SBI’s policies. Investors are advised to verify the latest rates on the official SBI website or by visiting a branch before investing. This article is for informational purposes only and does not constitute financial advice.