₹2 Lakh SBI FD for Wife : Planning a safe and reliable financial future for your wife? If you’re considering a Fixed Deposit (FD), State Bank of India (SBI) offers a trustworthy option. With an investment of ₹2 lakh in an SBI FD for 2 years, you can earn a solid return without any market risk. In this article, we break down exactly how much return you can expect, interest rates, and the best way to maximize your wife’s financial security.
Why Choose SBI Fixed Deposit for Your Wife?
SBI Fixed Deposits are known for their stability, government backing, and assured returns. Many Indian households prefer FD schemes to secure their spouse’s future because of their ease of use and guaranteed returns.
Key Benefits of Opening an FD for Your Wife:
- Assured and risk-free returns
- Multiple tenure options (up to 10 years)
- Higher interest for senior citizens
- Monthly, quarterly, or cumulative interest payout options
- Tax Deducted at Source (TDS) applicability under 80C
Current SBI FD Interest Rates (As of April 2025)
Below is a snapshot of SBI’s FD interest rates for general public and senior citizens. These are applicable for domestic term deposits less than ₹2 crore.
| Tenure | Interest Rate (General) | Interest Rate (Senior Citizens) |
|---|---|---|
| 7 days to 45 days | 3.00% | 3.50% |
| 46 days to 179 days | 4.50% | 5.00% |
| 180 to 210 days | 5.25% | 5.75% |
| 1 year to 2 years | 6.80% | 7.30% |
| 2 years to 3 years | 7.00% | 7.50% |
| 3 years to 5 years | 6.50% | 7.00% |
| 5 years and above | 6.50% | 7.50% |
₹2 Lakh SBI FD for 2 Years – How Much Will You Earn?
Let’s calculate the maturity amount if you invest ₹2 lakh in an SBI FD for 2 years at the current rate of 7.00%.
| Particulars | Details |
|---|---|
| Principal Amount | ₹2,00,000 |
| Interest Rate (General) | 7.00% per annum |
| Compounding Frequency | Quarterly |
| Tenure | 2 years |
| Maturity Amount (Approx.) | ₹2,30,428 |
| Total Interest Earned | ₹30,428 |
So, by simply parking ₹2 lakh for 2 years, your wife can receive approximately ₹30,428 in interest—without taking any investment risk.
See more : ₹25K Monthly Salary Can Give You ₹69.87 Lakh Pension
Scenario: FD for Wife as a Senior Citizen
If your wife is a senior citizen, the interest rate increases to 7.50%. Here’s what she can earn:
| Particulars | Details |
|---|---|
| Principal Amount | ₹2,00,000 |
| Interest Rate (Senior Citizen) | 7.50% per annum |
| Tenure | 2 years |
| Maturity Amount (Approx.) | ₹2,32,512 |
| Total Interest Earned | ₹32,512 |
This makes it even more lucrative to start an FD under her name if she’s eligible for the senior citizen benefit.
Taxation on SBI Fixed Deposit
Though FD returns are guaranteed, they are subject to taxation:
- Interest earned above ₹40,000 (₹50,000 for seniors) in a financial year is taxable.
- TDS is deducted at source if interest exceeds this limit.
- The interest income must be added under “Income from Other Sources” during ITR filing.
To reduce TDS burden, your wife can submit Form 15G or 15H (for senior citizens), provided her annual income is below the taxable limit.
How to Open an FD for Your Wife in SBI?
Opening an FD in your wife’s name with SBI is easy and can be done both online and offline.
Online FD Process (via SBI YONO or NetBanking):
- Login to SBI Internet Banking or YONO app
- Go to ‘Fixed Deposit’ option
- Select tenure and amount
- Choose interest payout mode
- Submit and confirm – FD is created instantly
Offline FD Opening:
- Visit nearest SBI branch
- Fill FD form in your wife’s name
- Submit KYC documents
- Deposit the amount via cheque or cash
- Collect FD receipt after processing
Tips to Maximize FD Returns for Your Wife
- Opt for cumulative FD to compound interest
- Invest in multiple FDs with different maturity dates for better liquidity
- Reinvest on maturity instead of withdrawing
- Consider Tax-Saver FDs under 80C (5-year lock-in)
SBI Tax-Saver FD for Women (Optional)
If your aim is both returns and tax saving, you can invest in SBI Tax Saving FD scheme in your wife’s name:
| Feature | Details |
|---|---|
| Lock-in Period | 5 years |
| Interest Rate (Apr 2025) | 6.50% (7.50% for seniors) |
| Minimum Deposit | ₹1,000 |
| Maximum Limit (under 80C) | ₹1.5 lakh per year |
| Tax Benefit | Under Section 80C |
Though locked-in, this can be a dual-benefit investment if you’re planning long-term.
Investing ₹2 lakh in an SBI FD for your wife for a 2-year period is not only safe but also offers decent returns—up to ₹30,428 for general investors and ₹32,512 for senior citizens. It’s an ideal choice for those who prefer stability, assured income, and simple investment methods without exposure to market risks.
This strategy can be a great way to gift your wife financial security, especially if she is not actively earning or looking for a predictable return in the short term.
This article is for informational purposes only and does not constitute financial advice. Interest rates are subject to change by SBI and should be verified at the time of investment. Please consult your bank branch or financial advisor for personalized guidance.
Join
Join