SBI FD: If you’re looking for safe and guaranteed returns on your savings, fixed deposits (FDs) have long been the go-to option for many Indians. The State Bank of India (SBI), the largest public sector bank in the country, provides its customers with attractive FD interest rates. As the most trusted bank in India, known for its extensive customer base, branch network, and market capitalization, SBI offers interest rates between 3.05% and 7.15% on FDs with terms ranging from 7 days to 10 years.
Curious about how much interest you could earn with a 3-year FD at SBI and what special perks are available for senior citizens? Let’s find out!
For a 3-year FD, SBI provides appealing interest rates for everyone, from regular citizens to senior citizens. For deposits under Rs 3 crore, the bank offers annual interest rates between 6.30% and 6.90% for a 3-year duration.
General citizens up to 59 years: 6.30% interest on 3-year FDs.
Senior Citizens (60 years and above): 6.80% interest on 3-year FDs.
Super Senior Citizens (80 years or above): A generous interest rate of 6.90% on 3-year FDs.
What special benefits are available for senior citizens?
The State Bank of India provides higher interest rates to ensure financial security for senior citizens and pensioners. Those aged 60 and above enjoy an additional 0.50% interest on FDs of all tenors compared to regular customers. Furthermore, super senior citizens aged 80 and above receive an extra 0.10% on top of the senior citizen rate, resulting in a total increase of 0.60% over the standard rates.
Complete Interest Rate Calculation Based on Age
For a 3-year FD, ordinary citizens aged up to 59 years will get an interest rate of 6.30%.
Senior citizens aged 60 to 79 years will receive a higher interest rate of 6.80% on a 3-year FD.
For super senior citizens aged 80 years or above, the interest rate on a 3-year FD is 6.90%.