Check out the best information relating to SBI fixed deposits interest rates:

SBI or the state bank of India under the reference to rules and regulations by the reserve bank of India has bought down good policies and fixed deposit interest rates for its customers. Every scheme launched is equally special and is considered a better option for all age groups. Considering fixed deposits, the SBI fixed deposits are quite the safest investments today available in the market. The bank is providing its customers with best options for investment in their savings as with 6 types of fixed deposit schemes. These are competitive SBI FD interest rates extending the best returns to the investors.

Contents

• SBI Term wise FD interest rates. SBI fixed deposits can be further categorized as short-term, medium-term and long-term depending on tenure. Short-term Fixed Deposit: SBI FD interest rate for tenure.
• 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.
• At present, SBI gives 5.4% interest rate on five years FD for the general public. If a senior citizen puts a fixed deposit under the special FD scheme, then interest rate applicable to the FD will.

The interest rate concession that the lender is offering is based on the loan amount and CIBIL score of the loan applicant. So now for home loan amount of up to Rs. 75 lakh, SBI will offer interest rate starting at 6.70% per annum. And the interest rate for SBI home loans amounting more than Rs. 75 lakh will start from 6.75% per annum.

SBI Fixed Deposit Interest Rates 2021

State bank of India sets with one of the most reliable FD providing with best of its rates across the market. The SBI FD offers with good number of benefits to its investors with higher returns, flexible tenures, lower minimum deposit limits as well as load against FD facility. Coming to its rates of Interest with FD, the highest one being offered is 5.40 %. Now the latest SBI FD interest rates for senior citizens on the other hand range between 3.40 % to 6.20%.

SBI FD Rate Chart

Here comes the information relating to the SBI FD interest rates with a comparative analysis:-

Features of State Bank of India Fixed Deposit

Probably today SBI Fixed deposit is one of the best investment options available for all aged depositors who are looking for a better investment future. This is the fixed deposit which includes the money earned from the fixed income instrument and can easily earn higher returns than that of the saving account. Looking forward to its best and key features:-

• Moving ahead with the deposit amount, the SBI FD can easily be opened with the lowest of rs 1000 with extending to as high as possible.
• The FD Tenure amount ranges between 7 days to 10 years.
• The interest rate ranges from 2.90 % to 5.40 % per annum.
• The senior citizen FD rate stands at 3.40 % to 6.20% per annum.
• The SBI is providing the highest interest rates for a tenure of 10 years.
• SBI deposits are covered under the deposit insurance schemes of RBI in which up to 5 lakh rupees are for depositors insured by the DICGC.
• SBI is providing with a loan against FD. This is going to help the depositors with meeting their needs for small requirements without breaking the FD.
• Auto-renewal facility is also easily available.
• There is an authenticated nomination facility available for the depositors.
• SBI is offering popular FD schemes like tax savings, reinvestment plan, SBI multi option deposit schemes, regular fixed deposits, money multiplier plan, Flexi deposit schemes, and SBI we care deposits.

Best of FD plan is supported by the SBI which can be carried for 5 to 10 years with the current FD rates 5.40 %.

Gayatri Mohapatra

Gayatri Mohapatra has 10 years of experience in content writing. She write on all niches specially with banking (worked as a professional Banker for 4 years). She is keen learner for which she choose this profession.

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.

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

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. 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.

Sbi Fixed Deposit Interest Rates 2020

How to open SBI FD Online?

Sbi Fixed Deposit Interest Rates 2016

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.

Sbi Fixed Deposit Interest Rate 2019

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.