Sbi Bank Fixed Deposit Rates

For Retail Term Deposits above Rs 5.00 lacs but below Rs 2 crore, the penalty for premature withdrawal will be 1% (all tenors). The interest shall be 0.50% or 1% below the rate applicable at the time of Deposits for the period Deposit remained with the Bank or 0.50% or 1% below the contracted rate. SBI Fixed Deposit Interest Rates generally range from 2.90% - 6.20% per annum which is quite high seeing the current market standards. The bank pays an additional interest to senior citizens.

  1. SBI FD rates refer to the rates at which interest is paid on a fixed deposit account for a tenure ranging between 7 days to 10 years. There is a competitive and higher interest rate on FD in SBI ranging from 2.90% to 4.40% per annum.
  2. Check here for State Bank Of India Fixed Deposit (SBI FD) latest board rates. Skip to content. Best Fixed Deposit Rates in Singapore 2021. State Bank Of India SGD fixed deposit board rates. Tip: Compare promotional fixed deposit rates.

SBI FD Online – State Bank of India is India’s largest public sector bank. SBI FD is one of the most preferred, popular, and safe investment options. SBI FD’s are offered with an interest rate of 2.9% to 6.2%. SBI fixed deposit can be purchased offline as well as online. You just required a net banking facility to open SBI fixed deposit online. You can also renew or close fixed deposit online.

SBI Fixed deposit key features

  • SBI Fixed deposit interest rate payment is monthly, quarterly, or maturity basis as per your requirement.
  • The rate of interest applicable is different based on duration and amount of FD.
  • A higher interest rate applies to the senior citizen.
  • Deposit tenure is 7 days to 10 years.
  • The minimum deposit amount is Rs.1000. No limit on the maximum amount.
  • The nomination facility is available on the fixed deposit.
  • Premature withdrawal can be done by paying a penalty.
  • TDS is applicable if form 15G or 15H is not submitted.
  • Automatic renewal is done in case instruction for closure is not given.

SBI FD Options

SBI Term Deposit

SBI Term Deposit is also known as normal fixed deposit. This type of deposit is opened for a specific term. Term deposit offers guaranteed returns, choice of interest payout & liquidity. The tenure of this deposit is from 7 days to 10 days. Interest payout is monthly, quarterly, half-yearly and yearly.

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SBI Tax Saving FD

The fixed deposit that is used for saving tax is known as Tax Saving FD. The rate of interest applicable to SBI Tax Saving FD is same as that of term deposit. The lock-in period for tax saving FD is 5 years. The amount is payable only at the time of maturity.

SBI Recurring Deposit

Sbi bank fixed deposit rates fixed

A recurring deposit is one that allows investor to invest fixed sum over a period of time. The minimum period is 12 months and the maximum period is 120 months. The minimum deposit amount is Rs.100 per month.

SBI FD reinvestment scheme

SBI FD reinvestment scheme is a scheme where interest earned is reinvested in the fixed deposit again to generate appreciation. The maturity duration is 6 months to 10 years. Geisha slot machine free play. If you are not in need of money for long term you can opt for a reinvestment scheme.

Who can open SBI FD?

The eligibility criteria to open SBI FD is given below.

  • The depositor must be an Indian resident
  • NRI are also eligible to open NRE fixed deposit
  • Partnership firm and HUF

SBI FD Interest Rates 2021

Domestic term deposit interest rate below 2 Cr.

TenorsRevised Rates For Public w.e.f. 08.01.2021Revised Rates for Senior Citizens w.e.f. 08.01.2021
7 days to 45 days2.90%3.40%
46 days to 179 days3.90%4.40%
180 days to 210 days4.40%4.90%
211 days to less than 1 year4.40%4.90%
1 year to less than 2 year5.00%5.50%
2 years to less than 3 years5.10%5.60%
3 years to less than 5 years5.30%5.80%
5 years and up to 10 years5.40%6.20%

How to open SBI FD Online?

Step by step method to open SBI FD online is given below.

  • Visit SBI net banking website and login via net banking user name and password.
  • Under fixed deposit section you will find e-TDR/e-STDR (FD). Click on that option to proceed. TDR stands for term deposit and STDR stands for Special Term Deposit.
  • Select the appropriate option and click on Proceed. You will be able to see multiple bank accounts that you have with SBI.
  • You need to select the account from which the money needs to be debited.
  • Now enter the fixed deposit principal amount in the amount column.
  • Select the tenure of the deposit. You have options to select days, years, months, days or maturity date.
  • Now choose the maturity instruction on your tem deposit. Click on the terms and condition and press submit button.
  • Your Fixed deposit will be generated with complete details such as name, tenure, principal amount, maturity amount. You need to press OK button.
  • You can note down the transaction number for the future reference. The on screen PDF can be downloaded.

You will need documents such as identity proof – Aadhaar card, Passport, PAN card, passport size photos. Bank will also ask for resident proof, age proof and income proof for opening for fixed deposit.

Want to earn safe returns on your investments? Then, look to invest in a fixed deposit that offers fixed returns over time. But the big question is, where should you open a fixed deposit? The question assumes significance given there are many banks and non-banking finance companies (NBFCs) waiting to make you a customer. But the largest public sector bank State Bank of India (SBI) has a distinctive advantage over others. The reason being the attractive interest rates as well as the massive PAN India presence with around 25,000 branches across the country. It won’t be wrong to say that SBI fixed deposit is a symbol of trust. Catch more of it in this page.

Table of Contents

  • 2 SBI Fixed Deposit Interest Rates and Other Details
  • 4 How To Apply for State Bank of India Fixed Deposit?
  • 5 SBI Fixed Deposit Form
    • 5.1 A Look at SBI’s Branch Network

SBI Fixed Deposit Schemes

The bank offers several fixed deposit plans to cater the diverse financial needs of the customers. It provides deposits for tenures ranging from 7 days to 10 years at varied interest rates. You can open a fixed deposit account with the lowest amount of INR 1,000. Interestingly, the 5-year tax saver fixed deposit of SBI doesn’t come with the maximum limit on deposits. You have the option to select the investment period and the amount of investment as per your financial goals. Depositors can receive interest at the payout frequency decided by them.

SBI Fixed Deposit Interest Rates and Other Details

Fixed Deposit AspectsDetails
Minimum Deposit AmountINR 1,000
Maximum Deposit AmountNo Limit
Rate of Interest2.90% - 6.20% per annum
Tenure7 days to 10 years
Loan FacilityUpto 90% of the Principal Deposit
Premature Withdrawal FacilityAvailable
Interest Payout FrequencyMonthly/ Quarterly/ Half Yearly/ Yearly

SBI Fixed Deposit Interest Rates March 2021

SBI Fixed Deposit Interest Rates generally range from 2.90% - 6.20% per annum which is quite high seeing the current market standards. The bank pays an additional interest to senior citizens. To know the FD interest rate of different investment periods, check the interest rate table given below:

Fixed Deposit Rates In Usa

Interest Rates on Retail Deposits Below INR 2 Crore

Deposit PeriodsInterest Rates for General Public (in per annum)Interest Rates for Senior Citizens (in per annum)
7 - 45 Days2.90%3.40%
46 - 179 Days3.90%4.40%
180 - 210 Days4.40%4.90%
211 Days - Less Than 1 Year4.40%4.90%
1 Year - Less Than 2 Years5.10%5.60%
2 Years - Less Than 3 Years5.10%5.60%
3 Years - Less Than 5 Years5.30%5.80%
5 Years - 10 Years 5.40%6.20%

Interest Rates on Retail Deposits of INR 2 Crore and Above

Deposit PeriodsInterest Rates for General Public (in per annum)Interest Rates for Senior Citizens (in per annum)
7 - 45 Days2.90%3.40%
46 - 179 Days2.90%3.40%
180 - 210 Days2.90%3.40%
211 Days - Less Than 1 Year2.90%3.40%
1 Year - Less Than 2 Years2.90%3.40%
2 Years - Less Than 3 Years3.00%3.50%
3 Years - Less Than 5 Years3.00%3.50%
5 Years - 10 Years 3.00%3.50%

SBI Fixed Deposit Calculator

The SBI Fixed deposit calculator is the tool which gives an exact idea about the amount of interest that you can get on the principal amount deposited under the scheme. Using it they can calculate the total amount they are likely to receive after the maturity of the fixed deposit. They can even reinvest the interest amount to yield more interest at maturity.

How To Apply for State Bank of India Fixed Deposit?

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To apply for a fixed deposit at SBI, the candidate needs to fill the application form by visiting the nearest bank branch. Other way is to download the application form from the bank’s official website and submit it along with the requisite documents at the branch office. Candidates can even open the FD account online from the comfort of your home/office and save your precious time. You must have the following to apply online.

  • Savings Account with SBI
  • Internet banking username and password
  • At least one transaction account should be mapped to the username

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Steps To Apply Online

  • Log in to the Online SBI account.
  • Enter the username and password
  • Click on the Login button
  • Once the savings account is visible, click on the e- Fixed Deposit link provided on the menu.
  • On clicking, the page will open where the depositor can create various deposits online.
  • From the left-hand side menu, select the e-TDR/STDR option.
  • Now feed the savings account number that is to be debited. Enter the amount and select the TDR or STDR option.
  • Click on the confirmation button. Now, the online fixed deposit account is generated.

SBI Fixed Deposit Form

The SBI fixed deposit form is available online as well as at branch offices. In order to avail the benefits of fixed deposits, you need to fill the following details in the form:

  • Customer status – existing customers or new to the bank
  • Applicant’s details
  • Co-applicant’s details
  • Funding account details i.e., the account to be debited
  • Term of deposit
  • Product name or the name of deposit scheme
  • Frequency of interest payable
  • Details of account in which interest is to be credited
  • Maturity instructions (tenure of policy, auto-renewal)
  • Signature of both the customers

A Look at SBI’s Branch Network

SBI is an Indian multinational, public sector banking and the financial company which has its headquarters in Mumbai. It is one of the most trustworthy bank in the country. It has a wide network of 14,000 branches spread across the country.