State Bank of India offers fixed deposits where a Rs 1 lakh investment grows based on current interest rates. For general customers, a 1-year FD earns 6.25%, while senior citizens get higher rates. A Rs 1 lakh deposit grows to around Rs 1.82 lakh over 10 years for general customers.

SBI FD interest rates: How much will Rs 1 lakh become in 1, 3, 5, and 10 years?

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SBI FD calculator: What will Rs 1 lakh become in 1, 3, 5 and 10 years?

Many investors choose State Bank of India (SBI) fixed deposits (FDs) for predictable returns. But how much will a Rs 1 lakh investment grow over different tenures? The maturity amount depends on the FD interest rate and investment tenure. Here is how much Rs 1 lakh can grow in SBI FDs over 1, 3, 5 and 10 years, based on the current retail domestic term deposit rates.

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SBI FD interest rates for general citizens

For general customers, SBI currently offers:

● 1-year FD: 6.25%

● 3-year FD: 6.30%

● 5-year FD: 6.05%

The applicable interest rate varies depending on the tenure chosen.

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SBI FD calculator: Rs 1 lakh maturity amount for 1, 3, 5 and 10 years

A Rs 1 lakh investment in a 1-year SBI FD would grow to more than Rs 1.06 lakh. For a 10-year FD, the maturity amount would be around Rs 1.82 lakh.

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SBI FD interest rates for senior citizens

Senior citizens get an additional 0.50% (50 basis points) interest benefit on SBI fixed deposits. For the selected tenures, the rates are:

● 1-year FD: 6.75%

● 3-year FD: 6.80%

● 5-year FD: 7.05%

This higher interest rate can increase the maturity amount compared with the FD rates available to general customers.

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SBI FD calculator for senior citizens: What will Rs 1 lakh become?

At 7.05%, a Rs 1 lakh deposit for five years grows to around Rs 1.42 lakh. If the same 7.05% rate is assumed for a 10-year period, the maturity amount works out to around Rs 2.01 lakh.

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SBI FD maturity amount: Is the interest tax-free?

No. FD interest is taxable according to the depositor's applicable income-tax rules. The actual tax payable depends on total taxable income and the applicable tax regime.

Banks deduct TDS when interest on an FD for a senior citizen crosses Rs 1 lakh in a specific bank. TDS is not an additional tax and can be claimed as a refund or adjusted against the final tax liability when filing the ITR. A senior citizen can submit Form 15H (now renumbered as Form 121 under the Income Tax Act, 2025) to avoid TDS if eligible under the applicable conditions.