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SBI Offers Competitive Fixed Deposit Rates for Customers

The State Bank of India is currently providing competitive interest rates on fixed deposits, ranging from 3.05% to 6.45% for regular customers and up to 7.05% for senior citizens. With a minimum tenure of 7 days and a maximum of 10 years, SBI's 46-day FD scheme offers an interest rate of 4.90% for regular citizens and 5.40% for seniors. This article details how much interest can be earned on a ₹2 lakh deposit and the total maturity amount. For precise calculations, it's advisable to use SBI's official FD calculator.
By Narendra Chaudhary Mar 8, 2026, 15:39 IST

Attractive Interest Rates on Fixed Deposits


The State Bank of India (SBI), recognized as the largest public sector bank in the country, is currently offering appealing interest rates on fixed deposits (FD). As of March 2026, SBI provides interest rates ranging from 3.05% to 6.45% for regular citizens, while senior citizens can enjoy rates from 3.55% to 7.05%. The minimum tenure for these fixed deposits starts at 7 days, extending up to a maximum of 10 years.

Focusing on the 46-day FD scheme, it falls under the slab of "46 days to 179 days." According to SBI's official rates, effective from December 15, 2025, and remaining unchanged until March 2026:



  • Interest Rate for Regular Citizens: 4.90% per annum


  • Interest Rate for Senior Citizens: 5.40% per annum



For instance, if you invest ₹2 lakh in a 46-day FD (assuming the investor is a regular citizen):



  • The interest is calculated using the simple interest formula (as the tenure is less than one year, SBI applies simple interest for short durations): Interest = Principal × Rate × Time (in years). Here, Time = 46 / 365 ≈ 0.126 years. Thus, Interest = 2,00,000 × 4.90% × (46/365) ≈ 2,00,000 × 0.049 × 0.126 ≈ ₹1,235 (approximately).


  • Total Maturity Amount = Principal + Interest = 2,00,000 + 1,235 = ₹2,01,235 (approximately).



Note: This calculation is based on simple interest. The actual maturity amount may vary slightly (±₹10-20) depending on the exact number of days counted by the bank (365 or 366 days) and rounding. For precise figures, consult SBI's official FD calculator or visit a branch.

If you are a senior citizen, the interest rate would be 5.40%, leading to a maturity amount of approximately ₹2,01,360 (interest ≈ ₹1,360).