One time Offer Get ET Money Genius at 80% OFF, at ₹249 ₹49 for the first 3 months.
Reserve NowReserve on App
close-calc

Get a free quote

Scan the QR Code to download the ET Money app
  • To scan the QR code you can use a QR code scanner app or your smartphone camera using Google lens.
  • After downloading the app, explore our products to help you live your choices.
ET Money one link
close
Sucess

Great! You have sucessfully subscribed for newsletters for investments

Subscribed email:

SBI Bank Fixed Deposit (FD) Interest Rates

Bajaj highest fd interest
popular

Features of SBI Bank FD

ET Money commission
Interest rates (p.a)3.00% - 7.60%
aum fund
Minimum deposit ₹1,000
aum fund
Maximum deposit ₹1 Cr
lock in
Lock-in lock12 months
age
Tenure 1 yr - 10 yrs
senior citizen
Senior citizen help iconExtra 0.5% p.a.

Why SBI Bank FD is the right choice
high returns
Higher Returns

Get more returns than bank FD; assured returns up to 6.2% p.a.

high credit rating
Strong Financials

CRISIL AAA (Stable) and ICRA AAA (Stable)

flexible payout options
Flexible Payout Options

Get interest amount at regular intervals or lumpsum at maturity

FD Calculator

SBI Bank FD Interest Rate 2023

TenureGeneral Public FD RateSenior Citizens FD Rate
7 days to 45 days3.00%3.50%
46 days to 179 days4.50%5.00%
180 days to 210 days5.25%5.75%
211 days to less than 1 year5.75%6.25%
1 year to less than 2 years6.80%7.30%
2 years to less than 3 years7.00%7.50%
3 years to less than 5 years6.50%7.00%
5 years and up to 10 years6.50%7.50%@
400 days (Special Scheme i.e. "Amrit Kalash")7.10%7.60%

@ Including additional premium of 50 bps under the "SBI We-care" deposit scheme.

Who can invest in SBI Bank FD?
Individual investor

Individuals investing as single FD holders

Above 18

Investors who are above 18 years of age. Senior citizens earn additional 0.5% interest

Indian resident

Investors who are resident Indian citizens

Fixed Deposit Interest Rates Comparison 2023

NameInterest rate (p.a.)TenureMin. deposit
Bajaj Finance Ltd.

Bajaj Finance Ltd.

7.11% - 8.60%

1 - 5yrs arrow forward

₹50,000

 Deposit Now
SBI Bank

SBI Bank

3.00% - 7.60%

1 - 10yrs arrow forward

₹1,000

 View details
ICICI Bank

ICICI Bank

3.00% - 7.60%

1 - 10yrs arrow forward

₹10,000

 View details
Axis Bank

Axis Bank

3.50% - 7.95%

1 - 10yrs arrow forward

₹5,000

 View details
HDFC Bank

HDFC Bank

3.00% - 7.75%

1 - 10yrs arrow forward

₹5,000

 View details
Bank of Baroda

Bank of Baroda

3.00% - 7.75%

1 - 10yrs arrow forward

₹1,000

 View details
IDFC Bank

IDFC Bank

3.50% - 8.00%

1 - 10yrs arrow forward

₹10,000

 View details
Kotak Mahindra Bank

Kotak Mahindra Bank

2.75% - 7.70%

1 - 10yrs arrow forward

₹5,000

 View details
Canara Bank

Canara Bank

4.00% - 7.75%

1 - 10yrs arrow forward

₹1,000

 View details
Yes Bank

Yes Bank

3.25% - 8.25%

1 - 10yrs arrow forward

₹10,000

 View details
IndusInd Bank

IndusInd Bank

3.50% - 8.25%

1yr - 5yrs 1m arrow forward

₹10,000

 View details
Punjab National Bank

Punjab National Bank

3.50% - 7.75%

1 - 10yrs arrow forward

₹1,000

 View details
IDBI Bank

IDBI Bank

3.00% - 7.30%

1 - 20yrs arrow forward

₹10,000

 View details
Union Bank

Union Bank

3.00% - 7.75%

1 - 10yrs arrow forward

₹1,000

 View details
Citibank

Citibank

3.50% - 7.95%

1 - 5yrs arrow forward

₹1,000

 View details
RBL Bank

RBL Bank

3.50% - 8.30%

1 - 10yrs arrow forward

₹1,000

 View details
Indian Bank

Indian Bank

2.80% - 7.20%

1 - 10yrs arrow forward

₹1,000

 View details

About SBI

The State Bank of India is the largest Indian bank with 42 crore customers. It offers a wide list of products and services to customers including savings accounts, fixed deposits, loans and credit cards. It has been ranked as 236th in the Fortune Global 500 list of the world's biggest corporations of 2019. The Fixed Deposit programme by SBI has been rated as FAAA/Stable by CRISIL. This indicates that the FD offering is stable, and it will generate stable and timely returns.

Benefits of SBI Fixed Deposit

  • 1. Competitive rate of interest - Investors in SBI fixed deposits can get up to 5.40% rate of interest on their deposits. In case of senior citizens, the interest rate goes up to 6.20%. This rate is comparable to most of the other participants in the market (though it should be said that Bajaj Finance offers rates up to 7.60% for non-senior citizens and 7.85% for senior citizens).
  • 2. Auto renewal facility - SBI gives you the option to automatically renew your FD in case you wish to extend the tenure of your deposit. Your deposit gets renewed for the same time period as the original deposit. This feature is available to certain FD schemes.
  • 3. Minimum deposit of ₹1000 - The minimum deposit for most FD schemes is only ₹1,000. This makes it easy for most people in the country to invest. In case of SBI Multi Option FD, the minimum investment is ₹10,000 and for SBI annuity scheme, it is ₹25,000.
  • 4. Loan facility available - When you open an FD with SBI, you can also get access to loans up to 90% of the FD's outstanding value. This gives you easy access to capital when you require it. The interest on these loans is between 5.5% to 7.1%.

Frequently asked questions

Who can invest in SBI Fixed Deposits?

The following individuals and groups can invest in SBI FDs:

  • Resident individuals
  • NRIs with NRE/NRO account
  • NRIs with NRE/NRO account
  • Partnership firms
  • Hindu undivided family members
  • Societies, clubs and agencies
  • Sole proprietorship business
  • Educational and charitable institutes

The minimum amount is Rs. 1,000. There is no limit on maximum deposits. You can deposit as much as you want.

Yes. The lock-in period for tax saving FDs offered by SBI is 5 years

Senior citizens are eligible for an extra 0.50% interest on their fixed deposits. How much extra interest can senior citizens avail for FD investments in SBI?

The maximum maturity period for FD schemes is ten years.

Yes. SBI offers automatic renewal on fixed deposits. However, automatic renewals shall only take place when there are no maturity instructions recorded at the time of opening a term deposit account or at any time before the maturity of the deposit.

Maximise your returns with

Bajaj Finance Ltd.

★ ★ ★ ★ ★
8.6%
Check out Bajaj Finance Ltd.

ET Money does not offer investment options with SBI Bank fixed deposit,