The customers of State Bank of India can open SBI Fixed Deposit online through SBI YONO app and SBI internet banking. The interest rates offered for online SBI fixed deposit are the same as that offered for fixed deposits opened through the bank branch or other offline modes. SBI offers fixed deposits at interest rates starting from 4.00%-7.60% p.a. to senior citizen depositors and 3.50%-7.10% p.a. to other resident depositors.
SBI Online FD Interest Rate Highlights
Highest slab rate | 7.10% p.a. (for 400 days) |
For 1 year | 6.80% p.a. |
For 2 year | 7.00% p.a. |
For 3 year | 6.75% p.a. |
For 4 year | 6.75% p.a. |
For 5 year | 6.50% p.a. |
Tax-Saving FD | 6.50% p.a. |
Rates as of 7th November 2024
How to Apply for SBI Fixed Deposit Online
Depositors can apply for online SBI Fixed Deposit either through SBI internet banking or through SBI YONO app.
Opening Online FD through SBI Net Banking
For opening online FD in SBI through net banking, depositors can visit the official website of SBI and login to the SBI account. There they can click on the fixed deposit option and select the type of deposit account. Depositors need to fill in the amount they wish to deposit and select the term deposit option, i.e., Term Deposit Receipt (non-cumulative) or Special Term Deposit Receipt (cumulative). The bank then asks for the tenure the depositor wants to create FD for. After entering the deposit tenure, they need to select the maturity instructions for the term deposit account (auto renewal principal and repay interest/repay principal and interest) and submit the application. Depositors can also verify the details before confirming the application.
Opening Online FD through SBI YONO app
To open SBI online FD through YONO app, depositors need to download the SBI YONO app on their mobile phones. They can login using their username and password and select the fixed deposit option. The depositors then need to specify the deposit amount and the type of account they would like to deposit for, followed by the deposit tenure. Lastly, they have to select the maturity instructions for term deposit account. Depositors can also review the complete fixed deposit application.
Alternatively, depositors can also open offline SBI FD by submitting the filled SBI FD form in the nearest bank branch with a minimum deposit of Rs 1,000.
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Comparison of Top 20 Scheduled Banks based on FD Rates
Banks | Highest FD rate (% p.a.) | 1-year FD rate (% p.a.) | 3-year FD rate (% p.a.) | 5-year FD rate (% p.a.) | Additional interest rate for senior citizens (% p.a.) |
Unity Small Finance Bank | 9.00 | 7.85 | 8.15 | 8.15 | 0.50 |
North East Small Finance Bank | 9.00 | 7.00 | 9.00 | 6.25 | 0.50 |
Suryoday Small Finance Bank | 8.60 | 8.05 | 8.60 | 8.25 | 0.50 |
Shivalik Small Finance Bank | 8.55 | 6.00 | 7.50 | 6.50 | 0.50 |
Utkarsh Small Finance Bank | 8.50 | 8.00 | 8.50 | 7.75 | 0.60 |
Jana Small Finance Bank | 8.25 | 8.25 | 8.25 | 8.20 | 0.50 |
Ujjivan Small Finance Bank | 8.25 | 8.25 | 7.20 | 7.20 | 0.50 |
ESAF Small Finance Bank | 8.25 | 6.00 | 6.75 | 6.25 | 0.50 |
Equitas Small Finance Bank | 8.25 | 8.20 | 8.00 | 7.25 | 0.50 |
SBM Bank | 8.25 | 7.05 | 7.30 | 7.75 | 0.50 |
RBL Bank | 8.10 | 7.50 | 7.50 | 7.10 | 0.50 |
DCB Bank | 8.05 | 7.10 | 7.55 | 7.40 | 0.50 |
Bandhan Bank | 8.05 | 8.05 | 7.25 | 5.85 | 0.50-0.75 |
AU Small Finance Bank | 8.00 | 7.25 | 7.50 | 7.25 | 0.50 |
YES Bank | 7.75 | 7.25 | 7.25 | 7.25 | 0.50-0.75 |
Induslnd Bank | 7.75 | 7.75 | 7.25 | 7.25 | 0.50 |
IDFC First Bank | 7.75 | 6.50 | 6.80 | 6.75 | 0.50 |
Central Bank of India | 7.45 | 7.00 | 6.00 | 5.75 | 0.50 |
Punjab & Sind | 7.45 | 6.30 | 6.00 | 6.00 | 6.00 |
HDFC Bank | 7.40 | 6.60 | 7.00 | 7.00 | 0.50 |
SBI Fixed Deposit Interest Rates
SBI Fixed Deposit Interest Rates on Domestic Deposits of less than Rs 3 crore w.e.f. 15th June 2024
Tenors | Interest Rates (p.a.) | |
General Public | Senior Citizens | |
7 days to 45 days | 3.50% | 4.00% |
46 days to 179 days | 5.50% | 6.00% |
180 days to 210 days | 6.25% | 6.75% |
211 days to less than 1 year | 6.50% | 7.00% |
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) | 7.10% | 7.60% |
*Including additional premium of 50 bps under “SBI Wecare” deposit scheme.
Note: SBI has introduced a tenor specific term deposit scheme (Amrit Kalash) for domestic and NRI customers. Under this scheme, SBI offers special FD interest rates at 7.10% p.a. to the general public and 7.60% p.a. to senior citizens for the tenure of 400 days. The validity of the said scheme is till 31st March 2025.
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