SBI Senior Citizen Fixed Deposit 2025: Senior citizens looking for safe and rewarding investment options now have a powerful opportunity with SBI’s revised 2025 Fixed Deposit scheme. Under the specially tailored SBI WeCare scheme, retirees can now earn up to ₹44,000 in five years on a ₹1 lakh deposit. Backed by India’s most trusted public sector bank, this plan is more than just numbers—it’s financial assurance with peace of mind.
SBI WeCare FD More Than Just Interest
Unlike regular FDs, the SBI WeCare plan is designed specifically for senior citizens aged 60 and above. With higher interest rates, flexible payout options, and reliable service from SBI, it is a smart retirement tool. The minimum deposit starts at just ₹1,000, and there’s no cap on the maximum investment, making it suitable for both small and large investors.
How Does the ₹44,000 Return Work?
The scheme offers an 8.00% interest rate for a 5-year deposit. This means a senior citizen investing ₹1 lakh will earn ₹8,000 annually, adding up to ₹44,000 over 5 years. With options for monthly, quarterly, or cumulative interest payout, the plan is both flexible and rewarding.
| Particulars | Details |
|---|---|
| Principal Amount | ₹1,00,000 |
| Interest Rate | 8.00% |
| Interest Earned Annually | ₹8,000 |
| Duration | 5 Years |
| Total Interest After 5 Years | ₹44,000 |
| Total Maturity Amount | ₹1,44,000 |
Why Choose SBI Over Others?
While private banks offer similar rates, SBI stands out for its unmatched trust and safety. Here’s a comparison:
| Bank Name | Senior Citizen FD Rate (5 Yrs) | Total Return on ₹1L |
|---|---|---|
| SBI | 8.00% | ₹44,000 |
| HDFC Bank | 7.75% | ₹41,125 |
| ICICI Bank | 7.60% | ₹40,000 |
| Axis Bank | 7.70% | ₹40,750 |
| BoB | 7.90% | ₹41,900 |
| IDFC First Bank | 8.25% | ₹45,000 |
Though IDFC offers slightly more, SBI’s government backing, online convenience, and reputation make it a more secure choice.
Key Considerations Before You Invest
While the scheme is attractive, senior citizens should remember these crucial points:
- Premature withdrawal leads to reduced interest (penalty applies).
- TDS applies if annual interest exceeds ₹50,000.
- Form 15H helps avoid TDS if income is below the taxable limit.
- Joint accounts allowed, but primary account holder must be 60+.
- Auto-renewal & online management available for added convenience.
Opening an SBI Senior Citizen FD – It’s Simple!
You can invest in this scheme easily:
- Visit your nearest SBI branch with ID proof and PAN card.
- Use SBI Net Banking or the YONO App to open the FD digitally.
- Existing customers can also use phone banking to book an FD.
Ensure you select the SBI WeCare scheme during setup to get the additional 0.50% interest benefit.
Quick FAQs of SBI Senior Citizen FD
A: ₹1,000 is the minimum amount required to open an FD.
A: Yes, but premature withdrawal will attract a penalty.
A: You can choose from monthly, quarterly, or cumulative payout options