The State Bank of India (SBI) has launched a new 35-month special Fixed Deposit (FD) scheme, offering attractive interest rates for customers looking to lock in stable and higher returns. This limited-period FD scheme is designed for investors who want guaranteed income amid changing interest rate trends.
What Is SBI’s 35-Month Special FD Scheme
The 35-month special FD is a time-bound deposit scheme introduced by SBI to provide better returns than regular fixed deposits. It allows customers to invest a lump sum amount for a fixed tenure of 35 months and earn assured interest throughout the period.
Interest Rates Offered Under the 35-Month FD Scheme
SBI has positioned this scheme with competitive rates to attract both regular investors and senior citizens. Senior citizens continue to enjoy an additional interest benefit over the general public.
SBI 35-Month Special FD Interest Rates
| Category | Interest Rate |
|---|---|
| General Public | Up to 7.10% |
| Senior Citizens | Up to 7.60% |
| Super Senior Citizens | As applicable under SBI rules |
Interest rates are subject to change based on SBI’s official notifications.
Why This FD Scheme Is Attractive for Investors
With market volatility and uncertainty around future rate movements, locking funds into a higher-interest FD offers peace of mind. The 35-month tenure strikes a balance between short-term liquidity and long-term growth, making it suitable for medium-term financial planning.
Who Should Consider Investing in This FD
This scheme is ideal for senior citizens, retirees, salaried individuals and conservative investors who prefer capital protection and assured returns. It is also suitable for those planning expenses such as education, medical needs or future purchases.
Premature Withdrawal and Loan Facility
SBI allows premature withdrawal under this scheme, subject to applicable penalties as per bank policy. Investors can also avail loans or overdraft facilities against the FD, ensuring liquidity in case of emergencies.
Tax Implications on SBI FD Returns
Interest earned on the FD is taxable according to the investor’s income tax slab. TDS is applicable if interest exceeds the prescribed threshold. Eligible customers can submit Form 15G or Form 15H to avoid TDS, if applicable.
How to Open the SBI 35-Month Special FD
Customers can open the FD through SBI YONO app, internet banking or by visiting an SBI branch. Existing FD holders can also reinvest or renew their deposits into this special scheme during the offer period.
One Quick Takeaway Section
The SBI 35-month special FD scheme offers higher interest rates with guaranteed returns, making it a solid investment choice for risk-averse customers.
Conclusion: SBI’s 35-month special FD scheme provides an excellent opportunity to lock in attractive interest rates with the safety of India’s largest public sector bank. For investors seeking stable returns without market risk, this scheme stands out as a reliable option. Since it is a limited-time offer, interested customers should consider investing early.
Disclaimer: Interest rates and scheme terms are subject to change as per SBI guidelines. Investors should verify the latest details through official SBI channels before investing.
