SBI FD Interest Rates

What is SBI Fixed Deposit?

SBI fixed deposit is a secure option for people who wish to gain returns on their money in a safe, traditional manner. SBI FDs allow you to make a one-time deposit of your chosen amount for a fixed tenure and earn interest thereon. 

The SBI FD interest rates in India are the same across all branches. However, you must note that there is a difference between the SBI Bank FD interest rates for the general public and senior citizens. Also, you may find a slight difference in interest rates for different FD types.

SBI FD Interest Rates: Key Highlights

Let us now see how much interest you can earn through investment in SBI fixed deposits for different tenures.

Latest SBI FD Interest Rates 2025

It is to be noted that the SBI FD interest rates are based on the Reserve Bank of India's (RBI) monetary policy and are influenced by factors like inflation rates & the nation’s prevailing economic situations.

The table below shows the current SBI FD rates (after the revisions that have been effective from May 16, 2025) for different time periods if the deposited amount is below ₹3 crore.

Now, let us look at the updated interest rates for the SBI FD if the deposited amount is ₹3 crore or above. These rates have been in effect from May 17, 2025.

Another popular form of FD is a non-callable deposit (NCD), where premature withdrawal is not allowed (except in bankruptcy or orders by business winding up, death cases, etc.). These FDs often offer a higher interest rate than the normal bank FDs. The minimum investment amount for SBI non-callable term deposit is Rs. 1 crore and the maximum amount that can be invested for a retail FD is Rs. 3 crores.

If you are still confused about how to calculate the interest for your SBI fixed deposit, use our online FD calculator for an easy and quick estimate.

Types of SBI FD

SBI offers various fixed deposit options to cater to the needs of different people. Let us now have a brief look at the different types of SBI FDs:

1. SBI Multi Option Deposits (MODs)

This SBI FD is linked to savings or current accounts, making the funds liquid. This implies you are allowed to withdraw money at any time. The balance amount in SBI MODs will enable you to earn interest and multiply your savings. This account requires you to maintain an average monthly balance.

• Tenure: 1 to 5 years

• Withdrawal: Complete liquid deposits, ₹1000 or multiples thereof

• Auto Sweep Facility: Available

• Minimum Threshold Balance: ₹35,000

• Minimum Sweep Amount: ₹10,000

2. SBI Patrons 

It is a term deposit designed specifically for super senior citizens (those of 80 years or above). The aim is to provide additional benefits to the super senior citizens through higher interest rates.

• Minimum Deposit Amount: ₹1000

• Maximum Deposit Amount: Less than ₹3 crore

• Tenure: 7 days to 10 years

3. SBI Tax Savings Scheme

You can also save tax with your SBI FD. This can be done with the SBI Tax Saving Fixed Deposit Scheme, which provides tax benefits under Section 80C of the Income Tax Act. This fixed deposit comes with a lock-in period of 5 years. It is to be noted that you cannot get loans against these deposits during the lock-in period. To gain tax benefits on SBI FD, the total deposited amount should not exceed ₹1,50,000 in a financial year.

• Tenure: 5 years to 10 years

• Lock-in Period: 5 years

• Minimum Deposit Amount: ₹1000 or multiples thereof

• Maximum Deposit: Not exceeding ₹1,50,000 in a year

• Premature Withdrawal/Closure: Not Allowed before 5 years

4. SBI Reinvestment Plan

This SBI FD is a cumulative fixed deposit plan wherein the earned interest is not paid periodically during the tenure, instead it is accumulated and paid at the time of maturity. The interest gets added to the principal amount each year and is paid cumulatively when the FD matures.

• Tenure: 6 months to 10 years

• Minimum Deposit Amount: ₹1000

• Maximum Deposit: No upper limit

• Interest Payout: Compounded quarterly, paid at the end of the term

5. SBI Amrit Vrishti Scheme

SBI has introduced Amrit Vrishti, a special FD scheme for 444 days, offering higher interest rates. It is an ideal option for people who wish to invest for the short term but receive relatively higher fixed returns. The interest rate for this SBI FD is 6.85% per annum to the general public, while additional interest rates are offered to senior and super senior citizens.

• Tenure: 444 days

• Minimum Deposit Amount: ₹1000

• Maximum Deposit: No upper limit

• Interest Payout: Monthly, quarterly, or half-yearly

SBI Fixed Deposit Features

While knowing the different types of SBI FDs allow you to choose the one that best suits your needs and return expectations, it is also crucial to know various highlights associated with a SBI FD.

1. Premature Withdrawal/Closure of SBI FD

If, for some reason, you wish to close your SBI FD before its maturity or withdraw some amount, you have the option to do so. Premature withdrawal or closure of SBI FD is allowed, but the account holders are charged a nominal fee for it. FDs of up to ₹5 lakhs result in a penalty of 0.5% on premature closure, and those of above ₹5 lakhs result in a penalty of 1%. 

You can use the SBI FD premature withdrawal calculator to determine the amount you will receive if you close your SBI FD before maturity.

2. Auto Sweep in SBI FD

The SBI FD auto sweep in allows you to automatically transfer the excess amount above the pre-specified threshold in your sayings accounts to the FD account. It is also a great way to earn a higher interest rate than the standard FD since you also earn interest on the surplus amount.

3. TDS on SBI FD

If your SBI FD interest rate exceeds ₹40,000 (₹50,000 for senior citizens) annually, the bank will deduct TDS. The TDS is deducted at a rate of 10%. In such a situation, you will also be required to furnish your PAN card, failing which the TDS on SBI FD interests is charged at 20%. It is to be noted that you can avoid/recover the deducted TDS amount by submitting Form 15G (if under 60 years) or Form 15 H (if above 60 years) to the bank.

4. Loan Against SBI FD

You can get a loan against your SBI FD with zero processing charge. It is provided as an overdraft facility, allowing you to get a personal loan without premature closure of the FD. The minimum amount for availing of a loan is ₹5,000 while the maximum amount can be 90% of the FD amount. The interest payable to the bank is 1% above the relative time deposit rate.

Who is Eligible to Open SBI FD Account

All Indian citizens who are of 18 years or above can open the SBI term deposit retail account. It is also possible to open an SBI FD for a minor with their parent’s or guardian’s consent. 

Other than Indian individuals, the SBI FD can be opened by:

• HUFs

• Public and private companies

• Partnership firms

• Trusts and Societies

• NRIs (Non-resident Indians) and PIOs (Persons of India)

How to Open SBI FD Account

You can open an SBI FD account via an online process or by visiting the bank branch.

1. Opening SBI FD Account Online

Opening a SBI FD account online is easy, requiring you to register, select the FD type, fill out the SBI FD form, and transfer the amount from your savings account to your new SBI FD account.

2. Opening SBI FD Account Offline

If you do not want to or are uncomfortable with the online account opening process, you can visit your nearest SBI branch and collect the FD form. Fill out the application form correctly and submit it with the deposit amount.

You must go through the complete list of documents required to open an SBI FD account to ensure you do not get stuck anywhere in the process. It is also to be noted that KYC verification for SBI FD is a mandatory requirement; hence, you must ensure that all the documents are handy and correct.

SBI FD Interest Rates 2025: Conclusion

Now that you have a fair understanding of how the SBI fixed deposit works and the SBI FD interest rates, you can easily assess and compare your investment options to ensure you gain higher returns while choosing the FD that best suits your needs.