Calculate SBI fixed deposit maturity and returns. Compare the latest 2026 FD interest rates for general and senior citizens. See post-tax yields at your slab.
No deductions applicable. 7 slabs from Nil (up to Rs. 4L) to 30% (above Rs. 24L).
Maturity amount
₹6,15,720
after 3 years
Post-tax maturity
₹5,98,362
Total interest earned
₹1,15,720
Effective yield post-tax
6.17%
p.a.
Tax on interest
₹17,358
₹5,00,000 (81.2%)
₹98,362 (16.0%)
₹17,358 (2.8%)
Is your FD working as hard as it should?
Get your wealth check-up todayDisclaimer: This calculator assumes quarterly compounding (standard for Indian bank FDs). Post Office FDs compound annually; some NBFCs compound monthly. Tax is applied on total interest at maturity. In practice, TDS on FD interest is deducted annually (10% with PAN, 20% without). Senior citizen rates (additional 0.25-0.50%) are not differentiated. Non-cumulative FDs with periodic payouts are not modelled.
Drag the slider or type the lump sum you plan to deposit. Range is Rs. 10,000 to Rs. 10 crore.
Use the rate offered by your bank on its latest FD (Fixed Deposit) rate card. The calculator supports 3% to 9.5%.
Pick anywhere from 3 months to 10 years. If you need liquidity soon, Then keep tenure short to avoid premature withdrawal penalties.
Pick "New regime" if you do not claim deductions like 80C, HRA (House Rent Allowance), or home loan interest. Pick "Old regime" if you do.
Choose the slab that matches your annual taxable income (Nil, 5%, 10%, 15%, 20%, 25%, or 30%). This drives the TDS (Tax Deducted at Source) and post-tax yield calculation.
Check Maturity amount, Post-tax maturity, Total interest earned, Effective yield post-tax, and Tax on interest. The donut chart breaks down Principal vs Net interest vs Tax so you can see the real return after tax drag.
A fixed deposit (FD) is a financial product where you place a lumpsum with a bank for a fixed tenure at a predetermined interest rate. At the end of the tenure, you receive your principal plus the accumulated interest. Unlike a savings account, an FD locks your money for a chosen period, anywhere from 7 days to 10 years, in return for a higher, guaranteed interest rate. The rate is fixed at booking and does not change for the life of the FD, even if market rates move.
FDs are popular for three reasons.
The SBI FD calculator computes your fixed deposit returns using the following formula:
A = P × (1 + r/n)^(n × t)
Where
A = 5,00,000 × (1 + 0.068/4)^4 ≈ ₹5,34,200
Pre-tax interest earned: ₹34,200.
Post-tax at 15% slab (New Regime): Tax on interest: ₹34,200 × 15% = ₹5,130 Post-tax maturity: ₹5,29,070 Effective yield post-tax: 5.78% p.a. (down from 6.80% headline)
At 30% slab: Effective yield drops to ~4.76%, highlighting the tax drag.
Current as of May 2026. Verified against State Bank of India's official rate card at sbi.co.in/web/interest-rates/fixed-deposits.
| Tenure | Regular Rate | Senior Citizen Rate | Premium |
| 7-14 days | 3.50% | 4.00% | +0.50% |
| 15-29 days | 3.50% | 4.00% | +0.50% |
| 30-45 days | 4.00% | 4.50% | +0.50% |
| 46-60 days | 5.00% | 5.50% | +0.50% |
| 61-87 days | 5.50% | 6.00% | +0.50% |
| 88-180 days | 6.00% | 6.50% | +0.50% |
| 6 months to <9 months | 6.30% | 6.80% | +0.50% |
| 9 months to <1 year | 6.50% | 7.00% | +0.50% |
| 9 months to <1 year | 6.50% | 7.00% | +0.50% |
| 1 year to <15 months | 6.80% | 7.30% | +0.50% |
| 15 months to <2 years | 6.75% | 7.25% | +0.50% |
| 2 years to <3 years | 6.60% | 7.10% | +0.50% |
| 3 years to <5 years | 6.50% | 7.00% | +0.50% |
| 5 years to <10 years | 6.50% | 7.50% | +1.00% |
| 5-Year Tax Saver (80C) | 6.50% | 7.50% | +1.00% |
Highest Rate: 6.80% (1-year general) / 7.50% (5-year senior citizen). Rates effective as per Axis Bank's official rate sheet, May 2026.
SBI's senior citizen premium is 0.50% across most tenures, escalating to 1.00% on 5-year and above deposits. This makes SBI competitive with Canara Bank and Bank of Baroda for longer-term senior savings.
Senior citizens also benefit from:
SBI NRE deposits are fully tax-free on interest + fully repatriable. Rates:
| NRE FD Tenure | Interest Rate (p.a.) |
| 1–2 years | 6.50% |
| 2–3 years | 6.50% |
| 3–5 years | 6.50% |
| 5–10 years | 6.50% |
Key: NRE rates are typically lower than domestic rates but interest is 100% tax-free. Senior premium does NOT apply to NRE/NRO per RBI rules.
For senior citizens aged 60+, SBI offers enhanced rates:
| Tenure | We Care Rate | Standard Senior Rate | Extra Premium |
| 1 year | 7.50% | 7.30% | +0.20% |
| 5 year | 7.50% | 7.50% | — |
Minimum: ₹1 lakh. This scheme is SBI's response to Axis and Kotak's competitive senior rates.
SBI typically moves rates in lockstep with RBI repo decisions (6 cycles a year). The last major upward revision was February 2024 when the RBI held rates. Current rates reflect the status quo since then.
Before you book: Verify live rates at sbi.co.in/web/interest-rates/fixed-deposits.
At 6.80% for 1 year, SBI is currently the highest 1-year rate among D-SIB banks (beats Axis at 6.25%, HDFC at 6.25%, ICICI at 6.25%). However:
Better alternatives at 30% slab:
For senior citizens: SBI FD is competitive—use the calculator to compare post-tax maturity against your slab.
| Approach | How It Works | Best For | Limitation |
| SBI FD | Lumpsum locked at fixed rate, quarterly compounding | Capital safety, 6-month to 3-year goals, emergency fund | Post-tax return below inflation for 30% slab investors |
| Recurring Deposit (RD) | Monthly contributions at fixed rate | Saving from monthly income, short tenures | Same post-tax problem as FD; lower effective yield |
| Liquid Mutual Fund | Money market or overnight fund | Emergency liquidity, short parking | Slightly lower yield than FDs but no lock-in |
| Debt Mutual Fund | Diversified bond portfolio, managed by AMC | 3-year+ debt allocation | Now taxed at slab rate (post April 2023) |
| Arbitrage Fund | Equity-derivative spread capture | Short parking with better post-tax math | Returns depend on cash-futures spread availability |
| Equity SIP | Monthly contributions into diversified equity fund | 7-year+ goals, retirement, education | Market risk, no capital guarantee |
| Feature | SBI FD | Liquid MF | Debt MF | Savings Account |
| Return (pre-tax) | 5.5% to 6.80% | 6.5% to 7.0% | 6.5% to 8.0% | 3.0% to 4.0% |
| Liquidity | Fixed tenure | Same-day or T+1 | T+1 to T+3 | Instant |
| Tax treatment | Slab rate | Slab rate (post Apr 2023) | Slab rate (post Apr 2023) | Slab rate |
| Capital safety | DICGC ₹5 lakh | Very high | Moderate | DICGC ₹5 lakh |
| Minimum amount | ₹5,000 digital / ₹10,000 branch | ₹500 typical | ₹500 typical | Nil |
For ₹5 lakh that you need back in 15 months, an SBI FD is reasonable. For ₹5 lakh that you can leave for 5+ years and are in the 30 percent slab, a debt mutual fund usually wins on post-tax math. For ₹5 lakh you might need in 30 days, a liquid fund beats both on liquidity without giving up much on yield.
| Bank | 1 Year | 3 Year | 5 Year | Senior Premium |
| SBI | 6.80% | 6.60% | 6.45% | 1.00% (5Y+) |
| Axis Bank | 6.25% | 6.45% | 6.45% | 0.75% (5Y) |
| HDFC Bank | 6.25% | 6.50% | 6.25% | 0.50% (0.75% for 5Y+) |
| ICICI Bank | 6.25% | 6.50% | 6.50% | 0.50% |
| Kotak Mahindra | 6.50% | 6.40% | 6.25% | 0.50% |
| PNB | 6.40% | 6.00% | 6.25% | 0.50% |
| Canara Bank | 6.85% | 6.40% | 6.00% | 0.50% |
| Bank of Baroda | 6.85% | 7.15% | 6.50% | 0.50% |
Indicative rates as of May 2026. Verify with each bank's official site before booking.
SBI's Advantage: Highest 1Y rate (6.80%), best senior citizen premium (1.00% on 5Y+), massive branch network, D-SIB status.
SBI is India's largest public sector bank and a Domestic Systemically Important Bank (D-SIB) classified by the RBI.
| Attribute | Value |
| Founded | 1806 (as Bank of Calcutta); SBI since 1955 |
| Headquarters | Mumbai |
| MD & CEO | Dinesh Khara (since Oct 2019) |
| Branches | 22,000+ (largest branch network) |
| ATMs | 73,000+ (largest ATM network) |
| Customers | 50+ crore |
| Market Cap | ~₹6 trillion |
| Deposit Insurance | DICGC ₹5 lakh |
D-SIB Status: As a Domestic Systemically Important Bank, SBI is considered "too big to fail" by regulators, making SBI deposits among the safest in India.
| Product Variant | Description |
| Regular Fixed Deposit | 7 days–10 years, ₹500 minimum via net banking |
| SBI YONO FD | Digital-only FD, instant account opening via app |
| SBI Tax Saver FD (80C) | 5-year lock-in, Section 80C eligible |
| SBI Flexi FD | Partial withdrawal allowed; interest tier-adjusted |
| SBI Annuity FD | Monthly payout variant for retirees |
| SBI Sweep FD | Auto-creates FD from excess savings balance |
| NRE / NRO FD | For Non-Resident Indians |
| Senior Citizen FD | Dedicated "We Care" scheme for 60+ |
| SSL (Super Saver Loan) FD | Allows overdraft up to 80% of FD value |
Tenure 7 days to 10 years. Cumulative or monthly/quarterly/annual payout. Minimum ₹500 net banking, ₹1,000 branch. Premature withdrawal: 1% penalty below contracted rate (except last 7 days of maturity, penalty-free).
100% digital. Download app, e-KYC, fund from any bank account. Minimum ₹1,000. Same rates as regular FD. Maturity credited directly to linked account.
₹1.5 lakh deduction annually under Section 80C (Old Regime). Lock-in 5 years. No premature withdrawal. Current rate: 6.50% general / 7.50% senior. Minimum ₹100.
Allows up to 80% premature withdrawal. Interest is recalculated and tiered based on holding period. Useful for uncertain tenure needs.
Monthly payout of interest + principal amortization. Designed for retirees. Tenure: 5–10 years.
Links to savings account. Excess balance auto-sweeps into FD. When you withdraw, system breaks FD in ₹1 units to fund withdrawal, minimizing lock-in friction.
Explore our suite of intuitive calculators designed to help you streamline your financial planning and maximize your tax efficiencies:
Compare the Old vs. New tax regimes instantly to find out which option saves you the most money. Directly relevant since your Axis Bank FD interest is taxed at your slab rate under whichever regime you pick.
Estimate the future value of your Mutual Fund investments and see how compounding works for you. The default comparison against an FD for 7+ year horizons.
See the massive impact of increasing your investment amount annually in line with your income growth. Useful for modelling an SIP-based alternative to FD reinvestment.
Accurately compute annualized returns for irregular cash flows, multiple investments, or redemption scenarios. Use this when you're laddering FDs across multiple tenures.
Optimize your rental tax savings instantly. Adjacent tax planning that interacts with your Old Regime tax math.
Analyze your mutual fund holdings to identify duplicate stocks and ensure true diversification.
Novelty Wealth does not just calculate FD maturity, it helps you decide whether an FD is the right destination for your money. Connect your existing portfolio and let NovaAI score every option against your goals, tax slab, and risk profile.
Get Your NovaAI ScoreAs of May 2026, SBI rates range from 3.50% to 6.80% (highest: 1-year general). Senior citizens earn up to 7.50% on "We Care" or 5Y+ schemes. Verify at sbi.co.in before booking.
No. All Indian bank FDs are taxed at your full income-tax slab rate on interest earned. SBI deducts 10% TDS if annual FD interest exceeds ₹40,000 (₹50,000 for seniors). Submit Form 15G/15H to avoid TDS if total income is below exemption limit.
Yes, except Tax Saver FD (5-year lock-in). Premature withdrawal: 1% penalty below contracted rate. SBI Flexi FD allows up to 80% withdrawal without full breakage.
₹500 via net banking (Regular FD), ₹1,000 via branch or YONO, ₹100 (Tax Saver FD), ₹1 lakh (We Care senior scheme).
Yes. General +0.50% across most tenures, +1.00% on 5Y+. Senior "We Care" scheme adds an extra 0.20% on 1-year. Net 7.50% on We Care 5Y.
At 1-year, SBI leads at 6.80%. But post-tax returns depend on your slab. In 30% slab, all yield ~4.7–4.8% post-tax. Use this calculator + NovaAI to compare against your specific goals and tax situation.
No. NRE interest is fully tax-free in India. However, rates are lower (6.50% vs 6.80% domestic). Repatriation of both principal and interest is unrestricted.
Yes. SBI allows overdraft (SSL) against FD up to 80% of FD value at rates 1–1.5% above the FD rate. Useful for liquidity without breaking the deposit.
Up to ₹5 lakh per depositor per bank, principal + interest combined. If your ₹6 lakh FD matures to ₹6.5 lakh, only ₹5 lakh is covered.
Yes. Laddering (spreading ₹10L across 1Y, 2Y, 3Y, 4Y, 5Y) reduces reinvestment risk. If rates fall, only 1/5th of your money renews at lower rates each year.