SBI FD Rates 2024: State Bank of India’s Regular Fixed Deposit ensures that your earnings grow steadily and effortlessly. Its key features like attractive interest rates, multiple interest payout options, and zero penalty on premature closure make it the ideal investment for your hard-earned money.
The SBI offers a wide range of Fixed Deposits (FDs) that offer a good rate of return and come with various other benefits. Some of the features of SBI FDs include nomination facility, flexible tenure options, auto renewal facility, different interest payout options, loan/overdraft facility, Etc. It is very easy to open an SBI FD online and this can be done at the click of a button in a paper-free manner.
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Key Benefits for SBI FD Rates
A Fixed Deposit (FD) is one of the most popular financial instruments among the general saving public in India as it provides a higher rate of interest than a regular savings account. Fixed Deposit (FD) is the safest of investments that give high returns after a period.
SBI offer you great rates, flexibility and security for your fixed deposits, with even higher interest for our senior citizens. Enjoy our facilities of booking your deposit through Netbanking, and the facility of automatic renewal. Minimum investment amount can be as low as INR 1000/-
SBI FD Interest Rates for Regular Deposit
Mentioned below are the applicable Fixed Deposit Interest Rates for the mentioned tenures. The below mentioned Fixed Deposit Interest rates are effective from June 2024. Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees One Crore ‘have been revised. The revised interest rates are as under :
(All figures in % per annum)
1. For Domestic & NRE*/NRO Retail Fixed Deposits (for amounts less than INR 2 Crore)
Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees Two Crore ‘have been revised.The revised interest rates are as under :
(All figures in % per annum)
| Tenors | For Public | For Senior Citizen |
|---|---|---|
| 7 days to 45 days | 3.50 | 4.00 |
| 46 days to 179 days | 5.50 | 6.00 |
| 180 days to 210 days | 6.00 | 6.50 |
| 211 days to less than 1 year | 6.25 | 6.75 |
| 1 Year to less than 2 years | 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* |
The aforementioned SBI FD rates in effect from 5 June 2024; subject to change. SBI staff members and SBI pensioners get an additional 1% interest rate. SBI pensioners get 0.50% (senior citizen benefit) + 1.00% (staff benefit), i.e. 1.50% extra FD interest rate.
The interest rate payable to SBI Staff and SBI pensioners will be 1.00% above the applicable rate. The rate applicable to all Senior Citizens and SBI Pensioners of age 60 years and above will be 0.50% above the rate payable for all tenors to resident Indian senior citizens i.e. SBI resident Indian Senior Citizen Pensioners will get both the benefits of Staff (1%) and resident Indian Senior Citizens (0.50%).
State Bank of India Fixed Deposit Rates
2. For Domestic & NRO Retail Monthly Payout Fixed Deposits (Rs.2 Crore To Rs. 10 Crores)
The revised Interest rates on ‘Domestic Bulk Term deposits (Rs.2 Crore To Rs. 10 Crores) with effect from 15 February 2023 will be as per following table:
(All figures in % per annum)
| Tenors | Interest Rates (p.a.) | |
| General Public | Senior Citizens | |
| 7 days to 45 days | 4.75% | 5.25% |
| 46 days to 179 days | 5.50% | 6.00% |
| 180 days to 210 days | 6.00% | 6.50% |
| 211 days to less than 1 year | 6.25% | 6.75% |
| 1 year to less than 2 years | 6.75% | 7.25% |
| 2 years to less than 3 years | 6.50% | 7.00% |
| 3 years to less than 5 years | 6.00% | 6.50% |
| 5 years and up to 10 years | 6.00% | 6.50% |
SBI FD Eligibility Criteria
- Both new and existing customers of State Bank of India can open a Fixed Deposit.
- Following are the types of customers who can open fixed deposit accounts: Individuals, Minors, Proprietorship, HUF (Hindu Undivided Family), Registered and Unregistered Body, Cooperative Society, Trusts, Partnerships, NGO and, Private Limited.
How to Apply for SBI FD
- Visit the nearest branch of State Bank of India and our Relationship Manager will guide you on the application process.
- You can also contact us and our Customer Care Executive will fix a service appointment with our Relationship Manager to help you with the application process.
Eligibility
- Resident Indians
- Hindu Undivided Families
- Sole proprietorship firms
- Partnership firms
- Limited companies
- Trust accounts
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