SBI FD Interest Rates Today – Nov 18, 2024
State Bank of India (SBI) offers fixed deposit interest rates ranging from 3.50% to 7.10% annually for the general public and 4.00% to 7.60% annually for senior citizens, with tenure periods spanning from 7 days to 10 years. SBI Tax Saving FDs provide an interest rate of 6.50% annually for the general public and 7.50% annually for senior citizen depositors.
Features of SBI FD Interest Rates
| Feature | Description |
|---|---|
| Interest Rates (%p.a.) | 3.50% – 7.10% |
| Minimum Deposit | Rs. 1000 |
| Period | 7 Days – 10 Years |
| Senior Citizen (Age Above 60 Year) | Extra 0.5% p.a. |
| Compounding | Quarterly |
| Transferability Allowed | Yes, To Other SBI Branches |
| Calculate FD Returns | SBI FD Calculator |
State Bank of India FD Interest Rates [Below Rs.2 Crore]
All interest rates shown below are annual (% p.a.) with effect from 27 December 2023.
| Period | General Public | Senior Citizens |
|---|---|---|
| 7 days to 45 days | 3.50% | 4.00% |
| 46 days to 179 days | 4.75% | 5.25% |
| 180 days to 210 days | 5.75% | 6.25% |
| 211 days to less than 1 year | 6.00% | 6.50% |
| 1 year to less than 2 year | 6.80% | 7.30% |
| 2 years to less than 3 years | 7.00% | 7.50% |
| 3 years to less than 5 years | 6.75% | 7.25% |
| 5 years and up to 10 years | 6.50% | 7.50%* |
| 400 days (Amrit Kalash) [Highest] | 7.10% | 7.60% |
Calculate Days to Years, Months, and Days
State Bank of India FD Interest Rates [Rs. 2 Crore and Above]
All interest rates shown below are annual (% p.a.) with effect from 27 December 2023.
| Period | General Public | Senior Citizens |
|---|---|---|
| 7 days to 45 days | 5.00% | 5.50% |
| 46 days to 179 days | 5.75% | 6.25% |
| 180 days to 210 days | 6.50% | 7.00% |
| 211 days to less than 1 year | 6.75% | 7.25% |
| 1 year to less than 2 years [Highest] | 6.80% | 7.30% |
| 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 | 6.00% | 6.50% |
State Bank of India TAX Saver Fixed Deposit
(SBI Tax Savings Scheme, 2006)
| Period | General Public | Senior Citizens |
|---|---|---|
| 5 – 10 years | 6.50% | 7.50% |
Calculate SBI FD Returns
Total investment:
Rate of Interest (p.a):
Time period:
Compounding Period:
How to Apply for SBI FD?
Applying for an SBI Fixed Deposit (FD) can be done through various channels. Here’s how you can apply:
Offline Method:
- Visit a Branch: You can visit any SBI branch nearest to you and inquire about their FD schemes. The bank staff will guide you through the application process. Make sure to carry the necessary documents such as identification proof, address proof, and the amount you wish to deposit.
- Contact Customer Service: You can call SBI’s customer service helpline and inquire about the FD application process. They can assist you with the necessary steps and provide information regarding the required documents.
Online Method:
- SBI Internet Banking: If you’re registered for SBI’s internet banking services, you can log in to your account and navigate to the FD section. There, you’ll find options to explore the available FD schemes and apply online.
- SBI YONO Mobile App: Download the SBI YONO (You Only Need One) mobile app from Google Play Store or Apple App Store. Log in with your credentials and navigate to the FD section. You can explore the available FD schemes and apply directly through the app.
Third-party Platforms:
Some third-party financial platforms may also offer the option to apply for SBI FDs. Ensure that you’re using a reliable and authorized platform for any online applications.
Eligibility to Open an SBI FD Account
Investors should first check their eligibility to invest in SBI Bank FD. The eligibility criteria to invest in SBI Bank Fixed Deposit is:
- Indian Resident Individuals
- Partnership Firms
- Public and Private Limited companies
- Societies
- Trusts
- HUFs
- Non-Resident Indians (NRIs) and PIOs (Persons of Indian Origin)
Documents Required to Open SBI FD
The list of documents required to open an FD in the State Bank of India is:
1. Duly filled SBI FD account opening form
2. Four passport size photographs
3. Identity Proof as per KYC norms. (PAN, Aadhaar, Voter ID Card, Driving License or Passport)
4. Address proof as per KYC norms. (PAN, Aadhaar, Voter ID Card, Passport or Driving License)
5. Proof of Age (Birth Certificate or Graduation/school passing Certificate)
6. Pan Card or Form No. 60 or 61 of the Income Tax Act (for declaration)
7. Details of your bank account like account number, IFSC code and branch
Popular SBI FD Schemes (SBI Amrit Kalash Deposit)
- Tenure: 400 days
- Interest Rate: 7.10% p.a. for General Public and 7.60% p.a. for Senior Citizens.
- Deposit Amount: Less than Rs. 2 crores
- Eligible Deposits:
- Domestic Retail Term Deposits & NRI Rupee Term Deposits
- New & Renewal Deposits
- Term Deposits & Special Term Deposits only
- Eligibility: Resident customers and NRI customers
- Special Categories of Customers: Senior Citizens are eligible for an additional interest rate over the applicable term deposit rate for the public.
- Premature Withdrawal Facility: Not available
- Renewal of Deposit: Allowed
- Loan Facility: The facility of Loan against Deposit is available with the applicable margin.
- Payment of Interest:
- Term Deposits – At monthly/quarterly/half-yearly intervals Special Term Deposits – On maturity
- The interest, net of TDS, shall be credited to the customer’s account.
- The FD scheme is available through branch, internet banking, and SBI YONO mobile app.
FAQs
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What is the minimum amount required to open an SBI FD?
The minimum amount required to open an SBI FD is Rs. 1,000.
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What is the highest FD interest rate offered by State Bank of India?
State Bank of India provides a competitive interest rate of 7.10% for 400 days (Amrit Kalash) Fixed Deposit for the general public. Senior citizens enjoy an additional 0.5% p.a., making it even more profitable.
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What is the tenure for an SBI Fixed Deposit Account?
The tenure for an SBI Fixed Deposit Account (FD) ranges from 7 days to 10 years. This means you can choose to lock in your investment for any period between a week and a decade.