SBI Senior Citizen FD Rates

SBI Senior Citizens Key Features at Glance

Below are the important things you should know about SBI senior citizens FD interest rates:

Latest SBI Senior Citizens FD Rates

Here’s a breakdown of the SBI senior citizens FD rates based on different deposit tenures (last verified in August):

FD Rates Below ₹3 Crore

The below ₹3 crore rates are effective from December 1, 2025:

SBI FD rates for senior citizens w.e.f. December 15, 2025.

The highest Senior citizens FD rate is 7.05% p.a. on the tenure of 5 years and up to 10 years for deposits below ₹3 crore.

FD Rates Above ₹3 Crore

The above ₹3 crore rates are effective from August 15, 2026:

SBI Senior Citizen FD Rates w.e.f. August 15, 2026

The highest Senior Citizen FD rate is 6.75% p.a. on the tenure of 1 year to less than 2 years for deposits above ₹3 crore.

How are SBI Senior Citizen Rates Decided?

State Bank of India gives senior citizens higher interest rates by adding extra benefits on top of normal rates. Special age groups and limited-period schemes offer even higher returns.

• Base Rate: The standard FD interest rate offered to the general public, which changes based on market conditions and central bank policies.
• Senior Citizen Extra Rate: People aged 60 and above automatically earn an extra 0.50% per year on standard rates for deposits lasting 7 days to 10 years.
• Super Senior Bonus: People aged 80 and older get an additional 0.10% bonus on top of the senior citizen rate.
• Special Plans: SBI offers special higher-paying options for specific time periods, such as special plans for long-term deposits of 5 years or more, and short-term plans like 444 days.

SBI Special FD Schemes for Senior Citizens

SBI offers special FD schemes designed for senior citizens and super senior citizens. WeCare, Amrit Vrishti, and SBI Patrons are three of the most suitable schemes for senior citizens.

SBI WeCare

The SBI WeCare scheme is designed for senior citizens investing in deposits with a tenure of 5 years and above. The current 7.05% p.a. rate for eligible retail deposits with a tenure of 5 years to 10 years already includes the additional 50 bps benefit available under the SBI WeCare scheme.

SBI Amrit Vrishti

SBI Amrit Vrishti Scheme 444 Days is a special fixed deposit that offers an interest rate of 6.95% p.a. for senior citizens. It is suitable for depositors looking for a medium-term investment with higher interest rates than the corresponding general citizen rate of 6.45% p.a.

SBI Patrons

Under the SBI Patrons scheme, super senior citizens (80 years and above) receive an additional 10 basis points (0.10%) over the interest rate applicable to senior citizens. The incentive is not available for Recurring Deposits, SBI Green Rupee Term Deposit, Tax Savings Scheme 2006, MODS, Capgains Plus Scheme and Non-Callable Term Deposits.

Benefits of Choosing SBI Senior Citizen FDs

SBI Senior Citizen FDs come with higher returns and several additional benefits. Some of the key advantages are:

• Higher FD Interest Rates: Senior citizens are given higher rates than the general rates. Senior citizens can get interest rates as high as 7.05% p.a. on eligible retail deposits of less than ₹3 crore.
• Special FD Schemes: SBI has unique schemes such as SBI Amrit Vrishti (444 Days) and SBI WeCare, which give higher returns for eligible senior citizen depositors.
• Loan Against FD: Senior persons can receive an SBI loan against FD or an overdraft against the fixed deposit without prematurely terminating the fixed deposit, as per the terms and conditions of the bank.
• Tax Benefits: Senior citizens opting for the new tax regime cannot claim tax deductions on deposit interest income under Section 153 (formerly Section 80TTB). All interest earned from fixed and savings deposits is fully taxable according to your applicable income tax slab rates under this regime.
• Credit Card Against FD: Eligible depositors can apply for an SBI credit card against FD, which helps them to get a secured credit card against their fixed deposit, subject to the bank’s eligibility criteria and terms.
• Tax Saving FD: SBI tax-saving FDs have a 5-year lock-in term. Investments in SBI Tax Saving FDs are eligible for deduction under Section 123 of the Income-tax Act, 2025 (earlier Section 80C), only if the depositor chooses the old tax regime and meets the prescribed conditions.
• Premature Withdrawal: SBI FD premature withdrawal allows you to close your deposit before maturity. A penalty of 0.50% is charged on deposits up to ₹5 lakh and a penalty of 1.00% on deposits above ₹5 lakh and up to ₹3 crore. Eligible non-callable term deposits cannot be withdrawn early.
• Nomination Facility: SBI provides a nomination facility on fixed deposits whereby the depositor can nominate one or more persons to receive the proceeds of the deposit as per the rules of the bank.
• Auto-Renewal Facility: SBI offers the depositor the option to opt for the auto-renewal facility while opening the FD. On maturity, the deposit will be renewed for the same period at the existing interest rate on the date of maturity unless otherwise instructed on maturity.

Conclusion

SBI Senior Citizen FDs offer interest rates in the range of 3.55% to 7.05% per annum. On retail deposits up to ₹3 crore for tenors ranging from 7 days to 10 years. SBI Special FD Schemes like SBI WeCare, SBI Amrit Vrishti and SBI Patrons offer additional benefits to eligible depositors. Senior citizens can also avail of a loan against FD, a credit card against FD, and applicable tax benefits under the old tax regime, subject to eligibility.