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SBI Fixed Deposit Rate

SBI offers attractive fixed deposit rates. Fixed deposits can be opened online or by visiting the nearest branch. SBI Fixed deposit rates vary with the amount invested and the tenure. The rates are also different for non-withdrawable deposits and recurring fixed deposits.

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SBI FD Interest Rates

State Bank of India offers attractive interest rates, features, and benefits, on fixed deposits for tenures ranging from 7 days to 10 years. For the general public, the SBI FD interest rates range from 3.00% p.a. to 7.10% p.a. and for senior citizens, it is in the range of 3.50% p.a. to 7.60% p.a. The interest rate of SBI Tax Saving FD is 6.50% p.a. for the general public and 7.50% p.a. for senior citizen depositors.

Features of SBI Fixed Deposits

Interest payments on a calendar quarter/quarterly/monthly basis
The minimum deposit is Rs.1,000 only
There is no threshold on the maximum deposit
Tenures range from 7 days to 10 years
Nomination facility is there
Loan amounts upto 90% of the principal amount can be availed against the FD
Overdraft of up to 90% of the principal amount can be availed against the FD
Term deposit with a regular interest payout can be converted to cumulative interest payout and vice versa.
An FD account can be opened through the bank’s branches or online through the SBI personal loan internet banking portal.

State Bank Of Travancore Fixed Deposit Rates

Domestic SBI Term Deposits 2024 Below Rs. 2 Crores

Tenures	General interest rates for the public	Interest rates for senior citizens
7 days to 45 days	3.00%	3.50%
46 days to 179 days	4.50%	5.00%
180 days to 210 days	5.25%	5.75%
211 days to less than 1 year	5.75%	6.25%
1 year to less than 2 years	6.80%	7.30%
2 years to less than 3 years	7.00%	7.50%
3 years to less than 5 years	6.50%	7.00%
5 years and up to 10 years	6.50%	7.50% @
400 days (Special Scheme “ Amrit Kalash”)	7.10%	7.60%

Domestic Bulk Term Deposits (Rs. 2 crores and above)

Tenures	General interest rates for the public	General interest rates for senior citizens.
7 days to 45 days	4.75%	5.25%
46 days to 179 days	5.50%	6.00%
180 days to 210 days	6.00%	6.50%
211 days to less than 1 year	6.25%	6.75%
1 year to less than 2 years	6.75%	7.25%
2 years to less than 3 years	6.50%	7.00%
3 years to less than 5 years	6.00%	6.50%
5 years and up to 10 years	6.00%	6.50%

Interest Rates on Some SBI Fixed Deposit Schemes

SBI Sarvottam Domestic Retail Term Deposits:The SBI Sarvottam Fixed Deposit Scheme is a non-callable term deposit offering a high rate of interest. This scheme does not allow premature withdrawals or payments.

Tenure	Above Rs. 15 lakhs to less than Rs. 2 crores - General Citizens (p.a.)	Above Rs. 15 lakhs to less than Rs. 2 crores - Senior Citizens (p.a.)	Rs. 2 crores to less than Rs. 5 crores - General Citizens (p.a.)	Rs. 2 crores to less than Rs. 5 crores - Senior Citizens (p.a.)
1 year	7.10%	7.60%	7.05%	7.55%
2 years	7.40%	7.90%	6.90%	7.40%

SBI Tax Savings Scheme: This scheme is suitable for resident individuals and HUFs who save on tax and can make considerable returns on their fixed deposits. The depositor can avail tax benefits on their deposits under Section 80C of the Income Tax Act, 1961.

Maturity Period	FD Interest Rates (Per annum) for the General Public	FD interest Rates (Per annum) for
5 years	6.50%	7.00%

Interest Rates on Term-wise SBI Fixed Deposits

Short Term Fixed Deposits

These are fixed deposits that have tenures ranging between 7 to 365 days
These deposits are known as short-term deposits since they have a tenure lower than 1 year.
SBI Fixed Deposit Rate: 3.00% p.a. to 5.50% p.a.
Interest rates for senior citizens: 3.50% p.a. to 6% p.a.

Medium Term Fixed Deposits

Medium-term fixed deposits have tenures between 1 year to less than 5 years.
SBI Fixed Deposit Rate: From 6.10% p.a. onwards

Long-Term Deposits

The tenure of these deposits range from 5 years to 10 years
SBI Fixed Deposit Rate: From 6.10% onwards
Interest rates for senior citizens: 6.90% p.a. onwards

SBI FD Interest Rates - NRIs

NRO Fixed Deposit Interest Rates

7 days to 45 days	3.00%
46 days to 179 days	4.50%
180 days to 210 days	5.25%
211 days to less than 1 year	5.75%
1 year to less than 2 years	6.80%
2 years to less than 3 years	7.00%
3 years and up to 5 years	6.50%
5 years and up to 10 years	6.25%

The interest rates are liable to change as per the discretion of the bank

SBI FCNR Rates

Currency	USD	GBP	Euro	CAD	AUD	JPY
1 year	5.00	4.25	1.50	4.30	3.60	0.02
More than 1 year but less than 2 years	5.00	4.25	1.50	4.30	3.60	0.02
2 years to less than 3 years	3.95	2.35	1.50	4.10	3.50	0.05
3 years to less than 4 years	3.80	2.45	1.50	3.85	3.00	0.05
4 years to less than 5 years	3.85	2.45	1.50	3.70	3.00	0.05
5 years	3.90	2.45	1.50	3.60	3.00	0.05

SBI RFC Rates

Tenure	USD	GBP	Euro
1 year to less than 2 years	5.00	4.25	1.50
2 years to less than 3 years	3.95	2.35	1.50
3 years	3.80	2.45	1.50

SBI NRE Fixed Deposit Interest Rates

Tenures	Interest for deposits below Rs. 2 crores
1 year to less than 2 years	6.80%
400 days (Amrit Kalash)	7.10%
2 years to less than 3 years	7.00%
3 years to less than 5 years	6.50%
5 years and upto 10 years	6.50%

What Are The Factors That Affect SBI Fixed Deposit Rates?

Deposit Amount: The interest rates on higher deposit amounts will be higher, especially for bulk deposits above Rs. 2 crores.
Deposit Tenure: The interest rates will be lower when the deposit tenure is short. When the tenure is longer, the interest rate will be higher.
Deposit Type: Senior citizens usually get a 0.50% additional interest rate on fixed deposits.

Types of SBI Fixed Deposit Schemes - Features

SBI Amrit Kalash Deposit

Deposit Amount: Lower than Rs. 2 crores
Tenure of the deposit: 400 days
Eligibility: NRIs and Indian residents
Premature Withdrawal Facility: Not available
Unique Features: Additional interest available for senior citizens
Interest Payout: Monthly/Quarterly/Yearly

SBI Tax Saver Deposit - SBI Tax Savings Scheme, 2006

This scheme comes with tax benefits under Section 80C of the Income Tax Act.
Lock-in period: 5 years
Minimum deposit amount: Rs. 1,000
Maximum Deposit Amount: Upto Rs. 1.5 lakhs in a financial year
The loan facility is not available during the lock-in period of 5 years
Eligibility:

Resident Indians for themselves as an individual or as the Karta of the HUF
Should have PAN card
The joint account shall be issued to adults together or to an adult and a minor.

SBI Annuity Deposit Scheme

In The SBI Annuity Deposit Scheme, the depositor pays in a single lump sum and gets a fixed monthly payment for the duration of the agreement.
Interest: Compounded quarterly and discounted to the monthly value.
Eligibility: Resident individuals (separately or together), including minors.
Tenure: 36/60/84/120 months
Deposit Amount: Depending on the minimum monthly annuity of Rs. 1,000 for the pertaining period.
Premature payment: Premature payments are allowed for deposits upto Rs. 15 lakhs. But, prepayment charges are levied. If the depositor expires, premature payment is allowed without any upper limit.
Overdraft Loan: In exceptional scenarios, grants of up to 75% of the remaining annuity amount may be paid.
Annuity Payment: On the anniversary date of the month subsequent to the month of deposit, the annuity payment is made. If that date does not exist, then it will be paid on the first day of the next month.

SBI Multi Option Deposit Scheme (MODS)

The FD account is linked to the savings or current account. The depositor can thus withdraw money in multiples of Rs. 1,000 at any moment.
The balance amount in the MODS account will continue to earn the term deposit rates applicable at the time of initial deposit.
Tenure: 1 to 5 years
Deposit Amount: At least Rs. 10,000
Loan Facility: Available

Eligibility Criteria For Applying To SBI Fixed Deposit

Individual
Minor with a guardian
Partnership
Company
Any association or institute
NRIs
Joint account but not more than 4 applicants

Documents Required to Open an SBI FD

Application Form
Photograph of the depositor (2 copies)
Aadhaar card
Identity proof and address proof according to the KYC Norms
PAN Card copy/Form 60 or 61

How to Apply for SBI Fixed Deposit

Current SBI clients can use the YONO SBI mobile app and Internet banking to open SBI FDs online.
Individuals can also go to the nearest branch of SBI and deposit a minimum of Rs. 1,000 along with the completed SBI form.
The SBI FD form is available to individuals both online and at the SBI branches.

FAQs About SBI FD Interest Rates:

1. What is the eligibility for opening an FD account with State Bank of India?

All individuals residing in India including minors and HUF are eligible to open a fixed deposit account with State Bank of India. Organizations such as sole proprietorship firms, partnerships and corporates can also open FD accounts with SBI.

2. What are the documents required for individuals to open an FD account in State Bank of India?

If you are an existing customer of SBI, you will only require your KYC documents to be submitted for opening an FD for the first time. If, however, you are not an existing customer, you will require an introduction by an existing account holder who has held an account with the bank for a period of 6 months or more.

3. For how long can I keep my deposit?

Fixed deposits run for a fixed term. The term ranges from 7 days to 10 years.

4. Are there any special FD schemes for SBI account holders?

SBI has launched a special scheme called Amrit Kalash for resident and non-resident Indians who are account holders. It is a tenor-specific term deposit valid until 31st December 2023. Under this scheme, SBI offers a special fixed deposit (FD) interest rate of 7.10% per annum. to the general public and 7.60% p.a. to senior citizens for a specific tenure of 400 days.

5. Can Senior Citizens Avail of Higher FD Interest Rates at SBI?

SBI has created a special senior citizen FD called SBI WeCare which gives higher interest rates to senior citizens. SBI offers 0.50% higher interest rates to senior citizens on tenures ranging between 5 years to 10 years. The scheme's extension has been granted until September 30, 2023.

6. Is Automatic Renewal Available for SBI FDs?

Yes, automatic renewal is available for SBI FDs.

Latest & Update Sbi Fixed Deposit Rate News

SBI Bank’s special FD schemes with higher interest rates to end soon28 Oct 2022

The SBI in August introduced a new term deposit scheme known as the "Utsav Deposit." The scheme was open for investments on August 15, 2022, and investors can earn an interest rate of 6.1 percent interest. This offer was available for 75 days and wil...

SBI increases the Interest rate on Fixed Deposits 11 May 2022

The country’s leading lender State Bank of India has increased the interest rates on domestic bulk term deposits of Rs 2 cr and above. For Regular Customers, the SBI domestic bulk term deposit interest rate is 3.00 percent for Rs. 2 crores that are ...

SBI raises interest rates on some fixed deposit tenures18 Feb 2022

The State Bank of India has made changes in increasing the rates on FDs for the tenure period over 2 years. The updated interest rate on fixed deposits will be applicable from 15th February. Earlier the FDs interest rates for the tenure period of 2-3...

SBI Launches Platinum Term Deposits 24 Aug 2021

To commemorate the 75th Independence Day, SBI has launched a new fixed deposit scheme termed “Platinum Term Deposits.” Customers investing in this scheme get an additional interest of 15bps on all fixed and recurring deposits for 75 days, 75 weeks, a...

SBI Extends Deadline for Special Fixed Deposit Scheme for Senior Citizens17 Dec 2020

The deadline for “SBI Wecare” FD scheme for senior citizens has been extended until 31st March 2021. This is a fixed deposit scheme that fetches higher returns for senior citizens on their FDs. Currently, SBI offers interest rates of 5.4% on regular ...