Rs 50,00,000 to Rs 1,00,00,000 in This FD Scheme: How can senior citizens double their money in SBI’s FD plan? Check calculations inside
The State Bank of India (SBI) has again cut interest rate for fixed deposits (FDs) and saving accounts across all tenures by 50 bps effective from June 15, 2025. This is the second time since March 2025 that the PSU bank has reduced its interest rate. The reason of slashing interest rates by most banks is because the Reserve Bank of India cut repo rate by up to 50 basis points early this month. However, the senior citizens still can double their money in 10-year FD plan. In this article, we will calculate how Rs 50,00,000 lakh deposit can create Rs 1,00,00,000 corpus in 10 years.
SBI 10-year FD interest rate for senior citizens
After rate cut, SBI provides a 7.05 per cent interest rate to senior citizens on the 10-year FD scheme.
Rs 50,00,000 deposit in SBI FD
If a senior citizen deposits Rs 50 lakh in an SBI FD for 10 years, they can still double their money.
Calculations of Rs 50 lakh to Rs 1 crore
On a 7.05 per cent interest rate, senior citizens can earn over Rs 50 lakh interest in a 10-year FD.
Invested amount: Rs 50 lakh
Estimated returns (7.05%): Rs 50,57,284
Total value: Rs 1,00,57,284
What if senior citizens deposit Rs 40 lakh for 10 years
On a Rs 40,00,000 deposit also, senior citizens can double their money.
Calculations
Invested amount: Rs 40 lakh
Estimated returns (7.30%): Rs 40,45,827
Total value: Rs 80,45,827
Rs 30,00,000 deposit in SBI FD
Calculations on how senior citizens can make Rs 60 lakh corpus on Rs 30 lakh investment.
Invested amount: Rs 30 lakh
Estimated returns (7.30%): Rs 30,34,370
Total value: Rs 60,34,370
