SBI offers Special FD 2025 before May 31 with fixed Rs 31,000 guaranteed monthly income

For many senior citizens, the idea of investing often feels like stepping into a world of uncertainty. The ups and downs of the market, complicated financial jargon, and risky ventures are best left to the younger crowd. What you want — and deserve — is something simple, secure, and steady.

That’s where the State Bank of India’s Special Fixed Deposit (FD) Scheme 2025 shines. It’s not just another deposit scheme — it’s a financial safety net thoughtfully designed for those who’ve spent a lifetime building, saving, and now wish to enjoy the rewards in peace.

Imagine receiving a guaranteed ₹31,000 every month, like clockwork, without worrying about stock market swings or inflation eating into your savings. SBI’s Special FD does just that.

With interest rates ranging from 7.10% to 7.65%, depending on the term you choose, this scheme offers assured monthly income while keeping your principal amount completely safe.

Here’s the magic: the interest you earn isn’t locked away. It’s handed back to you each month — a steady stream of income to cover your household expenses, healthcare, travel, or even a few indulgences.

How Much Do You Need to Invest?

Here’s a simple breakdown if you’re targeting a monthly income of ₹31,000:

Tenure Interest Rate Required Investment Total Income (Interest Only)
3 Years 7.10% ₹52,00,000 ₹11,16,000
5 Years 7.40% ₹49,50,000 ₹18,60,000
10 Years 7.65% ₹47,20,000 ₹37,20,000

The longer you invest, the lesser you need to deposit to earn the same ₹31,000 per month — thanks to higher interest rates.

A Perfect Fit for Senior Citizens

This FD scheme is especially attractive for retirees who want:

  • Predictability in their finances

  • No market risks

  • Monthly payouts without dipping into the capital

  • Peace of mind

If you’re a senior citizen, you might even enjoy additional interest benefits, giving your savings just that extra bit of stretch.

Added Benefits

  • Loan against FD: Need urgent funds? You can take a loan against your deposit — no need to break it.

  • Easy Application: Apply via your nearest SBI branch or from the comfort of your home using the SBI YONO app or website.

  • Tax Management: Submit Form 15H to avoid TDS, if eligible.


How It Compares

Investment Option Risk Monthly Return Liquidity Ideal For
SBI Special FD 2025 Very Low ₹31,000 Moderate Senior Citizens
Post Office Monthly Income Scheme Low ₹25,000 Moderate Conservative Investors
Senior Citizen Savings Scheme Very Low ₹27,000 Low Retirees

Retirement should be about relaxation, not risk. SBI’s Special FD 2025 gives you the comfort of knowing exactly what you’ll earn, when you’ll earn it, and that your savings are in good hands.

It’s more than an investment — it’s a promise of peace, predictability, and prosperity. And with the last date to apply being May 31, 2025, there’s no better time to secure your future.

Let your money work quietly, while you spend your retired life in serenity.

New Income Tax Return Forms for Assessment Year 2018-19 issued

The Central Board of Direct Taxes(CBDT) has issued new Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19, making it one page simplified ITR Form-1(Sahaj), that may benefit around 3 crore taxpayers. However, criticism mounted on personal questions it seeks from the taxpers.

This new ITR Form-1 (Sahaj) can be filed by an individual who is resident other than not ordinarily resident, having income upto Rs.50 lakh and who is receiving income from salary, one house property / other income (interest etc.).

Further, the parts relating to salary and house property have been rationalised and furnishing of basic details of salary (as available in Form 16) and income from house property have been mandated.

ITR Form-2 has also been rationalised by providing that Individuals and HUFs having income under any head other than business or profession shall be eligible to file ITR Form-2. The Individuals and HUFs having income under the head business or profession shall file either ITR Form-3 or ITR Form-4 (in presumptive income cases).

In case of NRIs, the requirement of furnishing details of any one foreign Bank Account has been provided for the purpose of credit of refund. Further, the requirement of furnishing details of cash deposit made during a specified period as provided in ITR Form for the Assessment Year 2017-18 has been done away with from Assessment Year 2018-19.

There is no change in the manner of filing of ITR Forms as compared to last year. All these ITR Forms are to be filed electronically. However, where return is furnished in ITR Form-1 (Sahaj) or ITR-4 (Sugam), the following persons have an option to file return in paper form:

(i) an Individual of the age of 80 years or more at any time during the previous year; or

(ii) an Individual or HUF whose income does not exceed five lakh rupees and who has not claimed any refund in the Return of Income.

The notified ITR Forms are available on the official website of the Department www.incometaxindia.gov.in.

Pension Scheme’ Pradhan Mantri Vaya Vandana Yojana (PMVVY)’ for The Elderly

Government has launched the ‘Pradhan Mantri Vaya Vandana Yojana (PMVVY)’ to provide social security during old age and to protect elderly persons aged 60 and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LIC).

The scheme provides an assured return of 8% per annum payable monthly for 10 years. The differential return, i.e. the difference between return generated by LIC and the assured return of 8% per annum would be borne by Government of India as subsidy on an annual basis. The scheme is open for subscription till 3rd May 2018.

Pension is payable at the end of each period during the policy tenure of 10 years as per the frequency of monthly/quarterly/half-yearly/yearly as chosen by the subscriber at the time of purchase. Minimum purchase price under the scheme is Rs.1,50,000/- for a minimum pension of Rs. 1,000/- per month and the maximum purchase price is Rs.7,50,000/- for a maximum pension of Rs.5,000/- per month. The scheme is exempted from Goods and Services Tax.

The scheme is widely advertised in national and regional media and through brochures, hoardings, flex-boards and on the website of LIC.

This was stated by Shri Santosh Kumar Gangwar, Minister of State for Finance in written reply to a question in Rajya Sabha today.

Eligibility Criteria for Senior Citizens to be decided soon

Adoption of Uniform age criteria of sixty years for benefits of Senior Citizens being extended by different organizations (such as Airlines, Insurance companies, State Governments, etc) is under consideration in this Ministry, pursuant to the recommendation of the Group of Secretaries on Education and Social Development, Constituted by the Government. It is proposed to bring suitable amendment to the Maintenance and Welfare of Parents and Senior Citizens Act in this regard.

This information was given by Minister of State for Social Justice and Empowerment Shri Vijay Sampla in a written reply in Rajya Sabha today.