SBI Bank FD Interest Rates

About SBI Bank 

State Bank of India (SBI) is one of the most trusted and recognised names in Indian banking. It is headquartered in Mumbai and offers its customers a variety of products and services including savings accounts, fixed deposits, loans, and credit cards. Customers can park their surplus savings in multiple fixed deposit account options and enjoy attractive interest on them over a certain period.

As the largest banking and financial services institution in India, SBI manages assets worth over ₹61 trillion. With a customer base of more than 50 crore people, the bank operates through an extensive network of over 22,500 branches, nearly 63,580 ATMs/ADWMs, and around 82,900 business correspondent outlets.

SBI has also expanded its presence across multiple financial sectors through its subsidiaries like SBI Life Insurance, SBI General Insurance, SBI Mutual Fund, and SBI Card. Not just limited to India, the bank has a global footprint with 241 offices in 29 countries, serving customers across different time zones.

The FDs provided by SBI have been rated as FAAA/Stable by CRISIL. This implies that the FD offered by SBI is stable, and generates guaranteed and timely returns.

SBI Bank FD Rates 2025 (Deposits Less Than ₹3 Crore) 

Note: The data is as of June 15, 2025

SBI Bank FD Interest Rates (Deposits ₹3 Crore and Above) 

Note: The data is as of June 15, 2025

Features and Benefits of SBI Bank Fixed Deposit 

• You can choose a deposit period ranging from a minimum of 7 days to a maximum of 10 years, depending on your financial goals.
• SBI Fixed Deposit accounts can be opened at any SBI branch across India, making it convenient for all customers.
• You can start an FD with SBI by depositing as little as ₹1,000, making it accessible for small investors.
• There is no upper limit on the amount you can deposit in an SBI Fixed Deposit, allowing large investments without restrictions.
• Any deposit amount of ₹2 crore or more is categorised as a bulk deposit, which may carry different interest rates and terms.
• Interest on Term Deposits is paid quarterly or at maturity along with the principal. For deposits of 12 months or more, interest can also be paid monthly, half-yearly, or annually upon the depositor's request.

Types of SBI Bank FD Schemes

Regular Fixed Deposit

• One-time lump sum deposit with flexible interest payout options
• Tenure ranges from 7 days to 10 years
• Minimum deposit amount is ₹1,000 with no maximum cap
• Senior citizens earn an additional 0.25% interest rate

SBI Multi Option Deposit (MOD)

• Linked to savings or current account with auto-sweep facility
• Allows withdrawals in multiples of ₹1,000 as needed
• Tenure ranges from 1 year to 5 years
• Minimum deposit starts at ₹10,000 with no upper limit

SBI Tax Savings Scheme

• Suitable for individuals looking to save tax under Section 80C of the Income Tax Act
• Fixed lock-in period of 5 years; premature withdrawal is not allowed
• Maximum deposit limit is ₹1.5 lakh in a financial year
• Only individual customers and HUFs are eligible

SBI Sarvottam (Non-Callable) Term Deposit

• Offers higher interest rates with no option for premature withdrawal
• Tenure ranges from 1 year to 2 years
• No maximum deposit limit for bulk investors
• Senior citizens and SBI staff get additional interest benefits

Annuity Deposit Scheme

• One-time lump sum deposit with fixed monthly payouts
• Tenure options range from 36 to 120 months
• Minimum deposit based on ₹1,000 monthly annuity payout
• No upper limit on the deposit amount
• Premature withdrawal allowed for deposits up to ₹15 lakh

SBI Special Term Deposit

• Interest is compounded quarterly and paid in full at maturity
• Tenure ranges from 6 months to 10 years
• Minimum deposit starts at ₹1,000 with no maximum limit
• Available across all State Bank of India branches

Motor Accident Claims Annuity Deposit (MACAD)

• Designed for victims of motor accidents to receive annuity payments
• There is no upper cap on deposit limit; minimum based on ₹1,000 monthly annuity
• Duration ranges from 36 to 216 months, as per court or tribunal order
• Interest rate varies with deposit tenure; longer terms (over 120 months) may earn higher rates

Floating Rate Bulk Term Deposit (FRBTD)

• For deposits of ₹2 crore and above
• Interest rate is linked to the prevailing repo rate and changes periodically
• Duration spans across 91 days to 3 years
• 1% penalty for early withdrawls

SBI Amrit Vrishti (444 Days)

• SBI Amrit Vrishti FD is a limited-time fixed deposit plan offering enhanced interest returns
• Deposit Tenure is set at 444 days, ideal for short-term investors
• Minimum Deposit Amount required is ₹1,000
• Premature Withdrawal is permitted but attracts a penalty

Term-wise SBI Bank Fixed Deposit Rates

Short-Term Fixed Deposits

These FDs range between 7 days to less than a year, offering interest rates from 3.05% to 6.05% for regular customers and 3.55% to 7.05% for senior citizens. This type of FD can be suitable for short-term savings and quick liquidity.

Medium-Term Fixed Deposits

These FDs range from 1 year to less than 3 years, with interest rates between 6.25% to 6.30% for regular customers and 6.75% to 6.80% for senior citizens. This can be a suitable option for planned expenses over the medium term.

Long-Term Fixed Deposits

These FDs range from 3 years to 10 years, offering 6.30% for regular customers and up to 7.05% for senior citizens. This can be suitable for long-term wealth creation with stable and assured returns.

How to Invest in an SBI Bank Fixed Deposit?

SBI Net Banking

• Visit the official SBI website and log in to your account
• Select the ‘Fixed Deposit’ option and choose the deposit type (Term Deposit or Special Term Deposit)
• Enter the deposit amount and choose the tenure
• Set maturity instructions (e.g., auto-renewal or repayment of principal and interest)
• Review the details and submit the application online

Via SBI YONO App

• Download and log in to the SBI YONO app
• Navigate to the ‘Fixed Deposit’ section
• Enter the desired deposit amount, select account type and tenure
• Choose maturity preferences and review all details
• Confirm and complete the FD creation process through the app

Offline Application

• Visit your nearest SBI branch.
• Fill out the FD application form and submit it with a minimum deposit of ₹1,000

Eligibility for Opening an SBI Bank FD Account

SBI Bank allows various individuals and entities to open a fixed deposit account, provided they meet the eligibility norms. The following categories are eligible:

• Resident individuals, either individually or jointly
• Minors with the consent of a parent or legal guardian
• Karta representing a Hindu Undivided Family (HUF)
• Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs)
• Registered partnership firms
• Companies incorporated in India
• Recognised trusts and societies
• Local governing bodies and government departments

Documents Required to Open SBI Bank FD Account

• Duly filled FD application form
• Four recent passport-size photographs
• Valid ID proof: PAN, Aadhaar, Voter ID, Passport, or Driver’s Licence
• Valid address proof: Aadhaar, Passport, Voter ID, or Driving Licence
• Age proof: Birth certificate or school certificate
• PAN card or Form 60/61 for IT declaration
• Bank account details: account number, IFSC code, and branch info

Tax on SBI Bank Fixed Deposit

SBI provides the ‘SBI Tax Savings Scheme, 2006’, where investors can deposit a minimum of ₹1,000, with additional deposits allowed in multiples of ₹100. The maximum investment permitted under this scheme is ₹1.5 lakh. It comes with a mandatory lock-in period of 5 years, though the account can remain active for up to 10 years.

Deposits made under this scheme qualify for tax benefits under Section 80C of the Income Tax Act, 1961. Senior citizens receive an extra 0.5% interest over the standard rate, while SBI employees and pensioners enjoy an additional 1% interest.

Interest earned on these deposits is subject to Tax Deducted at Source (TDS). TDS is deducted on interest earned as per the prevailing Income Tax rules. However, depositors can submit Form 15G or 15H to request exemption from tax deduction, subject to eligibility under the Income Tax guidelines.

Premature Closure of SBI Bank Fixed Deposit 

SBI allows premature withdrawal of Fixed Deposits; however, it typically comes with a penalty. For deposits up to ₹5 lakh, a 0.50% deduction is applied on the interest rate, while FDs above ₹5 lakh attract a 1% penalty. This deduction is made from the interest earned, which may lower the final rate below the originally agreed rate.