SBI’s Special FD Plan : In a bid to attract investors looking for stable and high-yield returns, the State Bank of India (SBI) has introduced a special Fixed Deposit (FD) plan that promises substantial weekly earnings. With a potential to earn ₹8,000 every week, this FD scheme has sparked interest among senior citizens, salaried professionals, and risk-averse investors. However, the offer comes with a deadline – interested individuals must invest before May 31, 2025.
What Is SBI’s Special FD Plan?
SBI’s Special Fixed Deposit scheme is a limited-period offer providing enhanced interest rates and structured weekly income returns. Unlike traditional FDs that pay interest monthly or at maturity, this plan is designed to provide fixed weekly income, making it attractive for those seeking regular cash flow without market-linked risks.
Key Highlights:
- High interest rate designed to generate ₹8,000 weekly income
- Flexible investment tenure with special maturity slabs
- Available for a limited time – up to May 31, 2025
- Backed by SBI, ensuring capital safety and steady returns
- Special rate slabs for senior citizens and large depositors
How Much Should You Invest to Earn ₹8,000 Weekly?
To earn ₹8,000 per week, an investor must deposit a lump sum that generates sufficient interest to cover this amount. Based on the special interest rates offered, SBI has calculated the approximate investment amounts needed to reach this goal.
Weekly Earning Calculation Table:
| Investment Amount | Interest Rate (Approx) | Weekly Payout | Annual Interest Earned | Tenure |
|---|---|---|---|---|
| ₹10,00,000 | 7.10% | ₹1,365 | ₹71,000 | 1 year |
| ₹25,00,000 | 7.10% | ₹3,413 | ₹1,77,500 | 1 year |
| ₹41,00,000 | 7.10% | ₹5,600 | ₹2,91,000 | 1 year |
| ₹57,50,000 | 7.10% | ₹8,000 | ₹4,08,250 | 1 year |
| ₹10,00,000 | 7.50% (Senior Citizen) | ₹1,442 | ₹75,000 | 1 year |
| ₹25,00,000 | 7.50% (Senior Citizen) | ₹3,606 | ₹1,87,500 | 1 year |
| ₹55,00,000 | 7.50% (Senior Citizen) | ₹8,000 | ₹4,12,500 | 1 year |
Note: Weekly payout values are approximations based on annualized interest, divided across 52 weeks.
Special Benefits for Senior Citizens
SBI offers an additional 0.50% interest rate for senior citizens under this FD scheme, making it even more appealing for retirees and elderly investors. The higher rate reduces the required investment to generate the same ₹8,000 weekly return.
Advantages for Senior Citizens:
- Higher interest rates (up to 7.50%)
- Guaranteed weekly income stream
- No TDS if Form 15H submitted
- Safe and risk-free investment from India’s largest bank
Eligibility Criteria and Documents Required
To invest in the SBI Special FD plan, individuals must fulfill basic eligibility norms and provide standard documentation.
Eligibility:
- Indian resident individuals
- Joint accounts allowed
- Senior citizens aged 60 and above for special rates
Required Documents:
- PAN card
- Aadhaar card
- Passport-size photograph
- Existing SBI account number (for linking)
- Form 15G/15H (if applicable to avoid TDS)
How to Apply for SBI’s Special FD Scheme
The FD can be booked easily both online and offline. Existing SBI customers can use internet banking or the YONO app, while new investors can visit the nearest SBI branch.
Application Steps:
- Log in to SBI’s online banking or YONO app
- Select “Fixed Deposit” and choose “Special Scheme”
- Enter investment amount and select tenure
- Confirm the interest payout mode as “Weekly”
- Complete the booking with OTP verification
Alternatively, visit your nearest SBI branch with required documents and request to open a Special FD under this plan.
Comparison with Regular FD Schemes
SBI’s Special FD scheme stands out from standard FDs in terms of returns and payout structure.
FD Scheme Comparison Table:
| Feature | Regular FD | Special FD (Limited-Time) |
|---|---|---|
| Interest Payout | Quarterly/Maturity | Weekly |
| Max Interest Rate | 6.80% | Up to 7.50% |
| Minimum Deposit | ₹1,000 | ₹10,00,000+ |
| Senior Citizen Bonus | +0.50% | +0.50% |
| Tenure Options | Flexible | 1 year (fixed) |
| Deadline | NA | May 31, 2025 |
Important Things to Remember Before Investing
Before investing in the SBI Special FD plan, keep the following points in mind:
- The scheme is available only till May 31, 2025
- Interest is taxable as per your income tax slab
- Premature withdrawal may incur penalty
- TDS applicable if interest exceeds ₹40,000 (₹50,000 for seniors)
- Always verify rates at the time of booking as they may vary slightly
Conclusion of SBI’s Special FD Plan
SBI’s Special FD scheme is a golden opportunity for those seeking a secure, high-return investment that also ensures regular weekly income. Whether you’re a senior citizen looking for a steady post-retirement income or a salaried professional seeking safe investments, this plan offers a solid mix of safety, reliability, and good returns. But act fast – the last date to invest is May 31, 2025.