Top 5 SBI Fixed Deposit Schemes for Senior Citizens: High Interest Rates Valid Through 2024

SBI Offers Attractive FD Options Tailored for Retirees Seeking Safe Returns and Long-Term Growth

New Delhi – As fixed deposits (FDs) remain one of the most trusted and secure investment options for Indian seniors, the State Bank of India (SBI) has introduced several FD schemes designed specifically for senior citizens, offering higher interest rates, flexible tenures, and guaranteed returns. These schemes are valid through September 2024 and beyond, making them an excellent option for those seeking financial stability in their retirement years.

1. SBI Amrit Kalash FD Special 400-Day Scheme

SBI’s Amrit Kalash FD offers an attractive rate of interest to resident individuals, NRIs, and senior citizens. This limited-period scheme is valid until September 30, 2024, and is available for a 400-day tenure.

• Interest Rate for General Public: 7.10%

• Interest Rate for Senior Citizens: 7.60%

• Scheme Validity: Up to September 30, 2024

• Additional Benefits: Available for both fresh deposits and renewals

2. SBI V-Care FD Tailored for Senior Citizens

The V-Care Deposit Scheme is exclusively crafted for senior citizens, offering an additional 50 basis points (bps) above the regular rates. This FD provides a secure and higher-yielding investment for retirees.

• Extra Interest: +0.50% over standard rates

• Eligibility: Only for senior citizens

• Validity: Available until September 30, 2024

• Usage: For new and renewed deposits alike

3. SBI Amrit Vriddhi FD High Returns Over 444 Days

The newly introduced Amrit Vriddhi FD is designed for short-term, high-yield investments over 444 days. It is ideal for seniors looking for slightly higher interest with flexibility.

• Base Interest Rate: 7.25%

• Senior Citizen Rate: 7.75% (inclusive of additional 0.50%)

• Loan Facility: Available against the FD

• Scheme Valid Till: March 31, 2025

4. SBI High-Value FD For Large Senior Depositors

This premium FD scheme is ideal for senior citizens with larger investment amounts. It offers higher returns compared to regular term deposits, especially beneficial for those parking a significant corpus post-retirement.

• Interest Rate: Up to 7.40% (based on tenure and deposit amount)

• Special Rates: Tailored for bulk depositors

• Security: Same capital safety with better yields

5. SBI Green Rupee Term Deposit Eco-Friendly and Profitable

For socially conscious investors, SBI’s Green Rupee Term Deposit provides competitive returns while supporting sustainable development. This FD is available in 1111, 1777, and 2222-day tenures.

• Interest Rates:

  • 6.65% (1111/1777 days)

  • 6.40% (2222 days)

  • Up to 7.40% for senior citizens depending on tenure

• Eco-Initiative: Funds support green projects

• Good for: Medium- to long-term eco-conscious investing

Final Verdict: Safe, Rewarding Options for Senior Investors

SBI’s range of senior citizen-focused fixed deposit schemes provides guaranteed returns, enhanced interest rates, and peace of mind for retirees. These plans are not only secure but also competitive, making them a smart choice for low-risk, long-term financial planning. With options valid through September 2024 and March 2025, now is the right time to invest.