SBI Fixed Returns Plan : The State Bank of India (SBI), India’s largest public sector bank, has introduced a highly attractive fixed deposit (FD) plan that guarantees assured returns for safe investors. If you’re looking to grow your money without taking market risks, this limited-time offer from SBI might just be what you need. With a return of ₹32,044 on an investment of ₹2 lakh, this fixed return plan is gaining strong attention among conservative investors and retired individuals.
Let’s explore the details of this scheme, how it works, who can benefit from it, and how you can invest before the window closes.
What is the SBI Fixed Return Plan?
The SBI Fixed Return Plan is a variant of the traditional fixed deposit scheme offered by the bank for a specified tenure. This plan offers:
- Assured return without market dependency
- Fixed tenure with predefined interest
- Eligibility for both regular and senior citizens
- Safe and government-backed investment through SBI
This specific plan offering ₹32,044 on a ₹2 lakh investment is based on a fixed term with a particular interest rate. The maturity amount is paid out at the end of the tenure.
Key Features of the Plan
- Investment Amount: ₹2,00,000 (can vary as per your budget)
- Maturity Amount: ₹2,32,044
- Interest Earned: ₹32,044
- Tenure: 5 years (60 months)
- Annual Interest Rate: Around 6.50% (varies slightly with tenure and age)
- Type: Cumulative Fixed Deposit
- Premature Withdrawal: Permitted (with penalty)
- Tax Deducted at Source (TDS): Applicable as per income tax rules
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Interest Calculation Table – Standard Depositor (Below 60 years)
| Investment Amount | Tenure | Interest Rate | Maturity Amount | Total Interest Earned |
|---|---|---|---|---|
| ₹1,00,000 | 5 years | 6.50% p.a. | ₹1,16,022 | ₹16,022 |
| ₹1,50,000 | 5 years | 6.50% p.a. | ₹1,74,033 | ₹24,033 |
| ₹2,00,000 | 5 years | 6.50% p.a. | ₹2,32,044 | ₹32,044 |
| ₹3,00,000 | 5 years | 6.50% p.a. | ₹3,48,066 | ₹48,066 |
| ₹4,00,000 | 5 years | 6.50% p.a. | ₹4,64,088 | ₹64,088 |
| ₹5,00,000 | 5 years | 6.50% p.a. | ₹5,80,110 | ₹80,110 |
| ₹10,00,000 | 5 years | 6.50% p.a. | ₹11,60,220 | ₹1,60,220 |
Senior Citizen Benefits
SBI offers higher interest rates for senior citizens (60 years and above). Generally, the interest is 0.50% higher than regular rates. This makes it a more lucrative option for retirees.
Senior Citizen FD Earnings Table
| Investment Amount | Tenure | Interest Rate | Maturity Amount | Total Interest Earned |
|---|---|---|---|---|
| ₹1,00,000 | 5 years | 7.00% p.a. | ₹1,17,161 | ₹17,161 |
| ₹1,50,000 | 5 years | 7.00% p.a. | ₹1,75,741 | ₹25,741 |
| ₹2,00,000 | 5 years | 7.00% p.a. | ₹2,34,322 | ₹34,322 |
| ₹3,00,000 | 5 years | 7.00% p.a. | ₹3,51,483 | ₹51,483 |
| ₹4,00,000 | 5 years | 7.00% p.a. | ₹4,68,644 | ₹68,644 |
| ₹5,00,000 | 5 years | 7.00% p.a. | ₹5,85,805 | ₹85,805 |
| ₹10,00,000 | 5 years | 7.00% p.a. | ₹11,71,610 | ₹1,71,610 |
Eligibility and Application Process
To invest in this SBI FD plan, you must meet the following criteria:
- You must have an SBI savings account.
- KYC documents (Aadhaar, PAN) must be updated.
- Investment can be done through SBI net banking, YONO app, or by visiting a branch.
- Minimum investment amount is ₹1,000.
- No upper cap, but interest calculation depends on slabs.
Who Should Invest in This Plan?
This SBI fixed return plan is ideal for:
- Conservative investors who don’t want to take risks in the stock market.
- Senior citizens looking for regular and assured returns.
- Individuals planning for mid-term financial goals like education, marriage, or travel.
- Salaried individuals aiming for a secure lump sum at maturity.
Additional Benefits of SBI Fixed Deposits
- Government-Guaranteed: Being a public sector bank, SBI FDs are backed by the Indian government.
- DICGC Insurance: Deposits up to ₹5 lakh are insured under the DICGC scheme.
- Loan Against FD: You can avail up to 90% loan on your FD amount.
- Flexible Tenure: Choose tenure from 7 days to 10 years.
- Automatic Renewal Facility: You can opt for auto-renewal at maturity.
Tax Implications
- Interest earned above ₹40,000 in a financial year (₹50,000 for senior citizens) attracts TDS.
- You can submit Form 15G/15H to avoid TDS if your total income is below the taxable limit.
- FDs for 5 years also qualify for tax-saving deductions under Section 80C (up to ₹1.5 lakh).
How to Apply Online
- Log in to SBI Net Banking or YONO App.
- Go to “Fixed Deposit” section.
- Choose “New Deposit”.
- Enter amount and tenure (5 years recommended).
- Confirm and submit. Your FD is created instantly.
Important Tips Before Investing
- Compare rates with other banks or post office schemes.
- Always check if auto-renewal is enabled by default.
- Keep track of your maturity date to avoid missing out on reinvestment opportunities.
- Senior citizens should always opt for the higher rate plan available.
- Break FDs only in emergencies, as premature withdrawal affects your returns.
SBI’s fixed return plan offering ₹32,044 on a ₹2 lakh investment over 5 years is an excellent choice for risk-averse investors seeking secure and predictable income. With stable returns, senior citizen benefits, and government-backed security, it’s a smart way to park surplus funds and grow your savings reliably. But remember, this is a limited-time offer and interest rates are subject to change – so act soon if you want to take advantage of this plan.
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This article is for informational purposes only. Returns and interest rates mentioned are indicative and subject to change based on SBI’s policies. Please consult with an SBI representative or your financial advisor before making investment decisions.
