State Bank of India (SBI) ₹10 Lakh FD 2026 — Interest & Maturity at 6.8%
A ₹10 Lakh fixed deposit in State Bank of India (SBI) at 6.8% p.a. for 5 years (quarterly compounding) matures to approximately ₹14.01 L. The total interest earned is ₹4.01 L, or about ₹6,682/month if you choose the payout option. Senior citizens earn 7.3%, yielding ₹14.36 L on the same deposit.
Last updated: 24 May 2026, 10:00 AM IST
Maturity Amount
₹14.01 L
at 6.8% for 5 years (quarterly compounding) at State Bank of India (SBI)
State Bank of India (SBI) — FD Details
Regular Rate
6.8% p.a.
Senior Citizen Rate
7.3% p.a.
TDS on FD Interest
TDS deducted at 10% if annual FD interest exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G/15H to avoid TDS if total income is below taxable limit.
Premature Withdrawal
Allowed after 7 days. Penalty: 0.50% below the applicable card rate for the period the deposit has run. No penalty for FDs up to ₹5 lakh after Amrit Kalash scheme.
Minimum Deposit
₹1,000 (regular), ₹1,000 (tax-saver 5-year lock-in)
Special Scheme
Amrit Vrishti (444 days) at 7.25% and Amrit Kalash (400 days) special tenure deposits.
State Bank of India (SBI) FD — Rates, TDS & Withdrawal Rules
A conservative salaried investor in Bangalore deposits ₹10 Lakh in State Bank of India (SBI) at 6.8% for 5 years. With quarterly compounding, the deposit matures to ₹14.01 L, earning ₹4.01 L in interest. A senior citizen would earn ₹4.36 L at the preferential rate of 7.3%. State Bank of India (SBI) charges a moderate 0.50% penalty for premature withdrawal. TDS deducted at 10% if annual FD interest exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G/15H to avoid TDS if total income is below taxable limit. The non-cumulative (monthly payout) option gives about ₹6,682/month, useful for retirees needing regular income. For higher returns, consider laddering: split the ₹10 Lakh across 1-year, 2-year, and 5-year FDs for better liquidity while capturing different rate slabs.
Data Sources
- RBI — Master Direction on Interest Rates (2026) — www.rbi.org.in
- Bank Websites — Latest FD Rates (May 2026) — www.rbi.org.in
- Income Tax Act — TDS on FD Interest (2025) — incometaxindia.gov.in
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Important: This calculator provides estimates based on the inputs and assumptions you provide. Results are mathematical projections, not financial advice or recommendations. Actual outcomes will vary based on market conditions, policy changes, individual circumstances, and factors not captured by this tool. Verify all figures independently and consult qualified professionals before making financial decisions.
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Founding Partner at Tykhe Ventures ($20M AUM, early-stage investing) and Founder of Kompella Technologies, which provides fractional CTO/CPO services to funded startups. NISM XIX-C certified. Built RupayWise because the financial tools available in India were either oversimplified or designed to sell you a product — not help you decide.
Frequently Asked Questions
What is the maturity of ₹10 Lakh FD in State Bank of India (SBI)?
At 6.8% for 5 years with quarterly compounding, ₹10 Lakh matures to ₹14.01 L. Senior citizens at 7.3% get ₹14.36 L.
How much monthly interest on ₹10 Lakh FD from State Bank of India (SBI)?
The monthly interest payout on a ₹10 Lakh FD at 6.8% is approximately ₹6,682.
Is TDS applicable on ₹10 Lakh FD at State Bank of India (SBI)?
TDS deducted at 10% if annual FD interest exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G/15H to avoid TDS if total income is below taxable limit.
Can I break my State Bank of India (SBI) FD early?
Allowed after 7 days. Penalty: 0.50% below the applicable card rate for the period the deposit has run. No penalty for FDs up to ₹5 lakh after Amrit Kalash scheme.
Is State Bank of India (SBI) FD safe?
State Bank of India (SBI) FDs are covered by DICGC insurance up to ₹5 Lakh per depositor per bank. For deposits above ₹5 Lakh, consider splitting across multiple banks.
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Disclaimer
This calculator provides estimates based on the interest rates and tenure shown. Actual maturity may vary based on the bank's specific compounding method and any rate revisions during the tenure. Bank rates are sourced from public data and may not reflect the latest changes — always confirm with your bank before investing. TDS is deducted at source if applicable. This is not financial advice. RupayWise is not a deposit broker or financial advisor.