Latest SBI Fixed Deposit (FD) Rates. How To Open SBI Fixed Deposit Online

SBI is currently offering an interest rate of 6.25 per cent on retail deposits of one-year maturity.

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Latest SBI Fixed Deposit (FD) Rates. How To Open SBI Fixed Deposit Online

SBI had last revised fixed deposit rates on retail deposits on November 11

Fixed deposits (FDs) remain one of the most popular savings instruments. SBI or State Bank of India on November 30 hiked its interest rates on bulk deposits. But SBI kept its interest rates on retail deposits (below Rs 1 crore) unchanged. SBI had last revised fixed deposit rates on retail deposits on November 11. SBI is currently offering an interest rate of 6.25 per cent on retail deposits of one-year maturity. Senior citizens get higher interest rate of 6.75 per cent on fixed deposits of one year.


Current interest rates on SBI fixed deposits (below Rs 1 crore):

TenorsRevised For Public w.e.f. 01.11.2017Revised for Senior Citizens w.e.f. 01.11.2017
7 days to 45 days5.25%5.75%
46 days to 179 days6.25%6.75%
180 days to 210 days6.25%6.75%
211 days to less than 1 year6.25%6.75%
1 year6.25%6.75%
Above 1 year to 455 days6.25%6.75%
456 days to less than 2 years6.25%6.75%
2 years to less than 3 years6%6.5%
3 years to less than 5 years6%6.5%
5 years and up to 10 years6%6.5%

Customers can access latest details on SBI's website.

How to open SBI Fixed deposit online


1) Login to your SBI online banking facility using your login id and password.

2) On the home page, select e-fixed deposit tab on the top menu.
sbi fd 1
(SBI e-fixed deposits: A screenshot from SBI's online banking portal)

3) Once you select the e-fixed deposit, you will see three options i.e. fixed deposits, fixed deposits under income tax savings scheme and multi option deposits. If you want to open normal fixed deposit, then select the first option and click on "proceed" button.

4) If you have multiple bank account numbers linked to your online banking, select the account from which you want the FD amount to be debited. Then fill the amount for which you want to create an FD. If you are a senior citizen, then select the "senior citizen" option. Senior citizens get higher interest on some maturities compared to others.
sbi fd 2
(SBI online fixed deposits: A screenshot from SBI's online banking portal)

5) Below the "senior citizen" option, select the term deposit option. If you want your quarterly interest to be reinvested and paid along with principal at the time of maturity, then select "STDR" option. If you want your interest to be paid quarterly, then select "TDR" option.
sbi fd 3
(State Bank of India online FD: A screenshot from SBI's online banking portal)

6) Once you click on the "STDR" option, it will ask you to fill the tenure of deposit. If you want to fix the maturity of your FD in number of days, then select "days". If you have a fixed date in your mind for your FD to mature, then select the "maturity date option", otherwise select the "years/months/days" option where you can give the maturity in no of years plus months and days like four year, two months and 15 days.
sbi fd 4
(SBI fixed deposit: A screenshot from SBI's online banking portal)

7) After you select the tenure, you have to select your maturity options from three available options - auto renew principal and interest, auto renew principal and repay interest, repay principal and interest.

8) If you select any of the first two maturity options - auto renew principal and interest , auto renew principal and repay interest - then you will also have to give the tenure for which you want your FD to be renewed after maturity.

9) Now read the terms and conditions and accept them to create the e-fixed deposit.

10) Once you accept and click "submit", your fixed deposit will be created and you will get a confirmation for the same. Please record the transaction number for any future reference.

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