SBI offers FD interest rates of 3.00%-6.75% p.a. to the general public and 3.50%-7.25% p.a. to senior citizens for tenures ranging from 7 days to 10 years. The interest rate of SBI Tax Saving FD is 6.25% p.a. for the general public and 6.75% p.a. for senior citizen depositors. The bank also offers various fixed deposit products for NRIs, such as NRO, NRE, RFC and FCNR (B) fixed deposits. SBI accepts FCNR (B) fixed deposits in US Dollars (USD), British Pound Sterling (GBP), Euro, Canadian Dollar (CAD), Australian Dollar (AUD) and Japanese Yen (JPY). The bank accepts RFC fixed deposits in USD, Euro and GBP.
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| Highest slab rate | 6.75% p.a. (for 1 year to less than 3 years) |
| For 1 year | 6.75% p.a. |
| For 2 year | 6.75% p.a. |
| For 3 year | 6.25% p.a. |
| For 4 year | 6.25% p.a. |
| For 5 year | 6.25% p.a. |
| Tax-Saving FD | 6.25% p.a. |
The interest rates are updated as of 1 February 2023
FDs of up to ₹5 lakhs insured by RBI
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| Tenors | Interest Rates (p.a.) | |
| General Public | 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 year | 6.75% | 7.25% |
| 2 years to less than 3 years | 6.75% | 7.25% |
| 3 years to less than 5 years | 6.25% | 6.75% |
| 5 years and up to 10 years | 6.25% | 7.25%* |
*Including additional premium of 50 bps under “SBI Wecare” deposit scheme.
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7.30%INTEREST ON FDSBI FD rates for senior citizens are 50 bps higher than the SBI Fixed Deposit rates offered to other depositors (as already mentioned in the table). The additional interest of 0.50% p.a. is offered only to resident senior citizen depositors. NRE and NRO depositors are not eligible for this interest premium. The bank also offers SBI Wecare Deposit Scheme for Senior Citizens, wherein the eligible depositors get an additional premium of 50 bps over & above the existing 50 bps paid to senior citizens. However, this scheme is available only for FD tenure of ‘5 Years and above‘. The scheme is available on fresh deposit as well as renewal of maturing deposits.
Also Know: Which banks offer the best FD interest rates in 2023?
| Tenure | Interest Rates (p.a.) | |
| Regular Customers | Senior Citizens | |
| 5 – 10 years | 6.25% | 6.75% |
| Tenors | Interest Rates (p.a.) | |
| General Public | Senior Citizens | |
| 7 days to 45 days | 4.25% | 5.00% |
| 46 days to 179 days | 5.00% | 5.50% |
| 180 days to 210 days | 5.50% | 6.00% |
| 211 days to less than 1 year | 5.75% | 6.25% |
| 1 year to less than 2 years | 6.50% | 7.00% |
| 2 years to less than 3 years | 5.75% | 6.25% |
| 3 years to less than 5 years | 5.75% | 6.25% |
| 5 years and up to 10 years | 5.50% | 6.00% |
| Tenure | Interest Rates(p.a.) | |
| Below Rs. 2 Crore | Rs. 2 Crore & above | |
| 1 year to less than 2 years | 6.75% | 6.50% |
| 2 years to less than 3 years | 6.75% | 5.75% |
| 3 years to less than 5 years | 6.25% | 5.75% |
| 5 years to 10 years | 6.25% | 5.50% |
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| Tenure | Interest Rates (p.a.) | |
| Deposits below Rs. 2 crore | Deposits of Rs. 2 crore & above | |
| 7 days to 45 days | 3.00% | 4.25% |
| 46 days to 179 days | 4.50% | 5.00% |
| 180 days to 210 days | 5.25% | 5.50% |
| 211 days to less than 1 year | 5.75% | 5.75% |
| 1 year to less than 2 years | 6.75% | 6.50% |
| 2 years to less than 3 years | 6.75% | 5.75% |
| 3 years to less than 5 years | 6.25% | 5.75% |
| 5 years and up to 10 years | 6.25% | 5.50% |
| Period | Interest Rates (p.a.) | |||||
| USD | GBP | Euro | CAD | AUD | JPY | |
| 1 year | 5.00 | 4.25 | 1.50 | 4.30 | 3.60 | 0.02 |
| Above 1 year to 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 |
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| Period | Interest Rates (p.a.) | ||
| 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 |
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| Residual tenor of deposit as on date of availing loan | Margin |
| Up to 36 Months | 5% |
| >36 months & up to 60 months | 10% |
| >60 months | 15% |
| Particulars | Charges |
| Joining Fee | Rs 1,500 |
| Annual Fee | Nil for first 4 years |
| Renewal Fee | Rs. 499 (5th year onwards) |
| Finance Charges | 3.75% per month (33% p.a.) |
| Minimum FD Amount | Rs 25,000 |
| Interest Free Period | 20 to 50 days |
| Best Suited For | new-to-credit consumers consumers having low credit score |
| Income Criteria | Nil |
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SBI FD Calculator can be used to check the interest and maturity amount that the depositor shall get on maturity. Since SBI FD interest rates keep on changing, it is highly advisable to check the maturity amount as per the prevailing interest rates before investing in a fixed deposit.
The tool requires minimal information including the deposit amount and tenure for which this amount is to be deposited. Along with these two inputs, customers need to provide the rate of interest too on which maturity amount will be calculated.
Existing customers of SBI can open fixed deposit account online through internet banking. Alternatively, they can visit the nearest SBI bank branch and submit the filled SBI FD form with a minimum deposit amount of Rs 1,000. Individuals can avail the SBI FD form online and also at SBI branch offices.
Click to know how to download SBI FD form online.
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Q. Can one open SBI Fixed Deposit Account online?
Yes, SBI fixed deposit can be opened online through an internet banking username and password.
Q. What is the tenure for an SBI Fixed Deposit Account?
The minimum tenure for SBI fixed deposit is 7 days and the maximum tenure is 10 years.
Q. What is the current highest FD rate at SBI?
Currently, it is 6.75% for deposits with a term of 1 year to less than 3 years.
Q. What is the minimum amount you can keep in the SBI Fixed Deposit Account?
The minimum amount required to open an SBI fixed deposit account is Rs. 1,000.
Q. Are there any special rates for senior citizens?
Yes, SBI offers 0.50 higher FD interest rates for senior citizens across all maturities.
Q. Is a premature withdrawal facility available with SBI FD?
Yes, but the premature withdrawal of SBI FD incurs a penalty of 0.50% on deposits up to Rs. 5 lakh and 1% on deposits above Rs. 5 lakh.
Q. Is a loan facility available against the FD account at SBI?
Yes, the loan facility is available up to 90% of the principal amount of fixed deposit.
Q. What is the lock-in period for Tax Saving Scheme?
The lock-in period of term deposit under the Tax Saving Scheme is 5 years.
Q. Who all are eligible to open an SBI Fixed Deposit Account?
It can be opened by individuals, partnership firms, private and public limited companies, HUFs/specified associations, societies, trusts, etc.
Q. Does SBI provide an auto-renewal facility for fixed deposits?
Yes, a fixed deposit is automatically renewed for the same time period and rate of interest if there are no instructions from the customer.
