SBI FD Returns: In today’s times, everyone seeks safe investment options. If you are also considering a secure investment, this news could be particularly relevant for you. Fixed Deposits (FDs) are widely regarded as a very safe investment avenue. You might consider investing in the special FD schemes offered by the country’s largest bank, the State Bank of India (SBI), which provides attractive interest rates to investors. If you invest up to ₹5 lakh in an FD and keep it invested for the long term, your investment could potentially double—yielding a total return of ₹10 lakh. The bank offers these enhanced benefits to senior citizens.
Returns on a ₹5 Lakh FD
If you invest ₹5 lakh in an FD for a period of one year, a general investor would receive approximately ₹531,990 upon maturity. Senior citizens, meanwhile, would receive interest at a rate of 6.75%, resulting in a total maturity value of ₹5,34,614.
If you invest ₹5 lakh in an FD for two years, a general investor would receive approximately ₹567,701 upon maturity, while senior citizens could receive ₹573,313. As the investment tenure increases, the returns also grow accordingly.
If you invest ₹5 lakh for a period of 10 years, a general investor would receive approximately ₹911,488. Senior citizen investors, however, would receive more than ₹10 lakh upon maturity. In this scenario, senior citizens effectively receive double their initial investment amount.
| Investment Amount | FD Tenure | Interest Rate (General Citizen) | Maturity Amount (General Citizen) | Interest Rate (Senior Citizen) | Maturity Amount (Senior Citizen) |
|---|---|---|---|---|---|
| ₹5,00,000 | 1 Year | 6.25% | ₹5,31,990 | 6.75% | ₹5,34,614 |
| ₹5,00,000 | 2 Years | 6.40% | ₹5,67,701 | 6.90% | ₹5,73,313 |
| ₹5,00,000 | 3 Years | 6.30% | ₹6,03,131 | 6.80% | ₹6,12,099 |
| ₹5,00,000 | 4 Years | 6.30% | ₹6,42,036 | 6.80% | ₹6,54,795 |
| ₹5,00,000 | 5 Years | 6.05% | ₹6,75,088 | 7.05% | ₹7,09,129 |
| ₹5,00,000 | 6 Years | 6.05% | ₹7,16,867 | 7.05% | ₹7,60,460 |
| ₹5,00,000 | 7 Years | 6.05% | ₹7,61,231 | 7.05% | ₹8,15,507 |
| ₹5,00,000 | 8 Years | 6.05% | ₹8,08,341 | 7.05% | ₹8,74,538 |
| ₹5,00,000 | 9 Years | 6.05% | ₹8,58,367 | 7.05% | ₹9,37,842 |
| ₹5,00,000 | 10 Years | 6.05% | ₹9,11,488 | 7.05% | ₹10,05,728 |
Points for investors to consider
If you are an investor planning to open a Fixed Deposit (FD), ensure you check the bank’s interest rates, maturity terms, and the penalties applicable to premature withdrawals. Additionally, consider the potential tax liability on the interest earned from the FD. You should also calculate the expected maturity amount yourself. Please note that the actual returns may vary based on the interest rate and the specific terms and conditions of the FD.