SBI FD Rates: See how fast Rs 50,000, Rs 75,000, Rs 1 lakh fixed deposits grow at SBI across maturities (with examples)

SBI FD Interest Rate: A fixed deposit - popularly referred to as FD - is a fixed-income financial instrument offered by banks and financial institutions where an investor deposits a lump sum of money for a 'fixed' period at a predetermined interest rate. State Bank of India (SBI) - the country's largest lender - offers a range of maturity periods on retail term deposits up to Rs 3 crore, starting as short as seven days and going as long as 10 years. Just like most other banks in the country, SBI offers slightly higher interest rates to senior citizen depositors. While fixed deposits at SBI yield annual returns to the tune of 3.5-7 per cent for the general public, they appreciate at 4-7.5 per cent for senior citizens, according to the bank's website, sbi.co.in.

With effect from June 15, 2024, SBI offers interest rates to the tune of 7.5 per cent and 7.0 per cent on retail fixed deposits to senior citizens and other depositors, respectively, according to the portal. Here's a summary of the retail FD interest rates offered by the PSU bank:    

Interest rates on SBI retail fixed deposits up to Rs 3 crore 

The interest is compounded quarterly. 

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Let's take a few examples to add some perspective to the interest rates given above.

Here are the estimated returns of retail fixed deposits of Rs 50,000-1,00,000 at the bank in two years for the general public: 

Similarly, take a look at the estimated returns of retail fixed deposits of Rs 50,000-1,00,000 at the bank in two years for senior citizens: 

#The examples given above are indicative in nature.