New SBI FD Scheme – The government and SBI have jointly introduced a new fixed deposit (FD) plan that offers high returns specifically for women account holders. By investing ₹2,22,222 in your wife’s name under this new FD scheme, you can ensure fixed monthly income with tax-saving benefits. This plan is designed to empower women with financial independence while offering families a stable income stream through secure investments.
What is the SBI FD Scheme for Women?
The SBI FD Scheme for Women is a specially designed fixed deposit plan that offers higher interest rates exclusively to female account holders. Launched with the aim of promoting financial security and independence among women, this scheme allows women to earn better returns compared to standard FD rates offered to general customers. Backed by the Government of India, the scheme provides flexible tenure options, guaranteed income, and tax-saving benefits, making it an ideal choice for housewives, working women, and senior citizens who seek safe and stable investments.
Key Features:
- Exclusive to women account holders
- Higher interest rate compared to regular SBI FDs
- Fixed returns for a chosen tenure
- Monthly/quarterly/yearly interest payout options
- Tax benefits under Income Tax Act
Why Deposit ₹2,22,222 in Wife’s Name?
Investing ₹2,22,222 in your wife’s name under the new SBI FD scheme is a smart financial move that offers multiple benefits. Firstly, it helps in effective tax planning by utilizing your wife’s lower or nil tax slab, reducing overall family tax liability. Secondly, the deposit amount is strategically promoted as it balances high returns with manageable investment. Additionally, women-specific FDs often come with better interest rates, making the investment more rewarding. It also encourages financial empowerment and independence for women, creating a dedicated income stream in her name while keeping the capital safe and secure.
Benefits of ₹2,22,222 Investment:
- Higher interest earnings due to targeted schemes
- Tax saving under your wife’s PAN card
- Helps create a fixed monthly income for the family
- Encourages financial independence for women
- Interest income may be tax-free if under basic exemption limit
SBI Women’s FD Interest Rates – 2025 Update
Here is a comparative table showing the current interest rates offered under the SBI FD scheme for women:
| Tenure | Interest Rate (General) | Women’s Special FD Rate | Difference |
|---|---|---|---|
| 1 Year | 6.80% | 7.10% | +0.30% |
| 2 Years | 7.00% | 7.30% | +0.30% |
| 3 Years | 7.25% | 7.55% | +0.30% |
| 5 Years | 7.50% | 7.80% | +0.30% |
| Monthly Payout | 6.75% | 7.05% | +0.30% |
| Quarterly Payout | 6.85% | 7.15% | +0.30% |
| Annual Payout | 7.00% | 7.30% | +0.30% |
Monthly Return on ₹2,22,222 Deposit
Below is a table illustrating expected returns based on various interest payout options:
| Payout Frequency | Annual Rate | Monthly Income | Total at Maturity (5 Years) |
|---|---|---|---|
| Monthly | 7.05% | ₹1,304 | ₹3,48,880 |
| Quarterly | 7.15% | ₹3,915 (per qtr) | ₹3,51,900 |
| Yearly | 7.30% | ₹16,236 | ₹3,56,400 |
| Reinvestment | 7.80% | – | ₹3,80,200 (compounded) |
How to Open This FD in Wife’s Name?
Opening an FD in your wife’s name under the new high-interest plan is simple and can be done both online and offline.
Steps to Apply:
- Visit the nearest SBI branch with KYC documents
- Ask for the “Women’s Special Fixed Deposit Scheme”
- Fill out the form and choose the tenure and payout frequency
- Deposit ₹2,22,222 via cheque or transfer
- Collect the FD certificate or receive it digitally
Alternatively, use the SBI YONO app or online banking to open the FD digitally under your wife’s profile.
Documents Required
To open this FD, the following documents are typically required:
- PAN card of wife
- Aadhaar card
- Address proof
- SBI account in her name
- Passport-sized photograph
Who Should Opt for This Scheme?
This FD plan is ideal for:
- Housewives seeking fixed monthly income
- Working women looking for tax-saving investments
- Senior women citizens needing safe returns
- Families aiming to split income tax liability
- Husbands planning for their wives’ future security
The new SBI FD scheme for women is an excellent opportunity for families to generate stable and secure income through a one-time deposit. By investing ₹2,22,222 in your wife’s name, you not only earn attractive interest rates but also gain tax advantages and long-term financial security. With rising financial awareness and tailored products for women, this initiative is a commendable step toward financial inclusion and empowerment.
FAQs
1. Is the scheme open for senior women citizens?
Yes, senior women citizens are eligible and may get even higher interest rates under special senior citizen terms.
2. Can the FD be broken before maturity?
Yes, premature withdrawal is allowed but may attract a penalty or reduced interest.
3. Is it necessary to have an SBI savings account in the wife’s name?
Yes, to open the FD under her name, she must hold an SBI savings account.
4. Can men invest under this scheme?
No, this FD plan is exclusively for women account holders as per the latest government-supported offer.
5. Is the interest taxable?
Interest is taxable under your wife’s income, but if her total income is below the exemption limit, no tax is applicable.