SBI Senior Citizen FD Rates
The Senior Citizen Saving Scheme is a fixed deposit scheme offered by State Bank of India to its 60 years and above customers. Under this Senior Citizen Fixed Deposit Scheme, the customer can deposit a minimum of Rs.1,000 for a period of 5 years. The interest rate for the SBI Senior Citizen Fixed Deposit Scheme ranges from 3.55% p.a. to 7.05% p.a.
SBI Senior Citizen Fixed Deposit Scheme Features
Various features of the SBI Senior Citizen Fixed Deposit Scheme are mentioned below:
Account type | Single or jointly |
Deposit | Minimum: Rs.1,000 |
Tenure | Minimum: 5 years Maximum: 8 years |
Nomination facility | Available |
Auto-renewal facility | Available |
Premature closure of account | Available with penalty |
Multiple withdrawals | Not available |
SBI Senior Citizen Fixed Deposit Scheme Interest Rates
The interest rate for SBI Senior Citizen Fixed Deposit Scheme ranges from 3.55% p.a. to 7.05% p.a. The interest rates are in effect from 15 June 2025.
Tenure | Revised rates for senior citizens |
7 days to 45 days | 3.55% p.a. |
46 days to 179 days | 5.55% p.a. |
180 days to 210 days | 6.30% p.a. |
211 days to less than one year | 6.55% p.a. |
1 year to less than 2 years | 6.75% p.a. |
2 years to less than 3 years | 6.95% p.a. |
3 years to less than 5 years | 6.80% p.a. |
5 years up to 10 years | 7.05% p.a. |
SBI Senior Citizen Fixed Deposit Scheme Eligibility Criteria
The eligibility criteria for SBI Senior Citizen Fixed Deposit Scheme is mentioned below:
- Indian citizens above the age of 60 years
- Hindu Undivided Family (HUF)
- NRIs
- Defense service retired personal above the age of 50 years
FAQs on SBI Senior Citizen FD Rates
- What is the minimum deposit amount for an account opened under the SBI Senior Citizen Fixed Deposit Scheme?
The minimum deposit amount for an account opened under the SBI Senior Citizen Fixed Deposit Scheme is Rs.1,000.
- Is nomination facility available under the SBI Senior Citizen Fixed Deposit Scheme?
Yes, nomination facility is available under the SBI Senior Citizen Fixed Deposit Scheme.
- Can I withdraw money multiple times from my account under the SBI Senior Citizen Fixed Deposit Scheme?
No, multiple withdrawals facility is not allowed under the SBI Senior Citizen Fixed Deposit Scheme.
- Is premature closure of account possible under the SBI Senior Citizen Fixed Deposit Scheme?
Yes, premature closure of account is possible under the SBI Senior Citizen Fixed Deposit Scheme. However, a penalty will be given upon premature closure.
- Can I extend the maturity period of my account under the SBI Senior Citizen Fixed Deposit Scheme?
Yes, you can extend the maturity period of your account by 3 years under the SBI Senior Citizen Fixed Deposit Scheme.
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