State Bank of India (SBI), the country’s largest public-sector bank, has introduced a new fixed deposit scheme that is attracting huge interest from safe-investment seekers. Under this SBI FD Scheme, an investment of ₹2,00,000 can earn fixed interest of up to ₹85,049 at maturity, depending on the tenure and applicable interest rate. Backed by the trust of SBI and a stable return structure, this scheme is ideal for investors who want guaranteed growth without market risk.
This article explains how the scheme works, who should invest, and why SBI FD remains a top choice in 2026.
What Is the New SBI FD Scheme?
The SBI New FD Scheme 2026 is a fixed deposit plan designed for individuals looking for secure and predictable returns. Investors deposit a lump sum amount for a fixed tenure and receive assured interest at maturity.
SBI offers multiple FD tenures ranging from short-term to long-term, allowing investors to choose according to their financial goals. The interest rate remains fixed at the time of investment, protecting depositors from future rate fluctuations.
How ₹2,00,000 Grows to ₹2,85,049
Under the new SBI FD structure, a ₹2 lakh investment can generate total maturity value of around ₹2,85,049, which includes ₹85,049 as interest. This calculation is based on a long-term FD tenure with cumulative interest.
The exact return depends on:
-
FD tenure selected
-
Applicable SBI interest rate at the time of booking
-
Whether the investor is a senior citizen
The longer the tenure, the higher the benefit of compounding.
Key Benefits of SBI Fixed Deposit Schemes
One of the biggest advantages of SBI FD is trust and safety. SBI is backed by the Government of India, making it one of the safest banking institutions for fixed deposits.
Other major benefits include flexibility in tenure, loan facility against FD, and easy online booking through internet and mobile banking. Investors can also opt for cumulative or non-cumulative interest payouts.
SBI FD Scheme 2026 – Highlights
| Feature | Details |
|---|---|
| Bank | State Bank of India |
| Investment Amount | ₹2,00,000 |
| Interest Earned | Up to ₹85,049 |
| Total Maturity Value | Approx. ₹2,85,049 |
| Risk Level | Very Low |
| Interest Type | Fixed |
| Tenure | Short to Long Term |
| Ideal For | Salaried, Retirees, Senior Citizens |
Special Benefits for Senior Citizens
SBI offers higher interest rates for senior citizens, which means they can earn even more than regular investors on the same FD amount. This makes SBI FD schemes particularly attractive for retirees who depend on fixed income.
Senior citizens also enjoy better financial stability and predictable returns, which helps manage medical and household expenses.
Taxation on SBI FD Interest
Interest earned on SBI FD is taxable as per income tax rules. TDS is applicable if the total interest exceeds the prescribed limit in a financial year. Senior citizens get higher exemption limits under current tax laws.
Investors can submit relevant declaration forms if eligible to avoid unnecessary TDS deduction.
How to Open SBI FD Under the New Scheme
Opening an SBI FD is simple and can be done:
-
Online via SBI Internet Banking or YONO App
-
By visiting the nearest SBI branch
Required documents generally include Aadhaar card, PAN card, and basic KYC details. Once booked, the FD remains locked at the agreed interest rate until maturity.
Why SBI FD Is Still Better Than Many Other Options
In a time when market-linked investments fluctuate daily, SBI FD provides peace of mind. While returns may not be as high as equities, the certainty of fixed interest makes it ideal for conservative investors.
For those who prioritize capital safety over aggressive returns, SBI FD remains one of the best options in 2026.
FAQs – SBI FD Scheme 2026
Can I really earn ₹85,049 interest on ₹2,00,000 investment?
Yes, approximately ₹85,049 interest is possible on a long-term cumulative FD, depending on tenure and interest rate.
Is SBI FD completely safe?
Yes. SBI is a government-backed bank and offers one of the safest FD options in India.
Do senior citizens get extra benefits?
Yes, senior citizens receive higher interest rates on SBI FDs.
Is FD interest taxable?
Yes, interest income is taxable as per prevailing income tax rules
