SBI Tax Saver FD

SBI FD Interest Rates For Deposits Below 3 Crore

Below are the SBI FD interest rates as of September 2026

SBI FD Rates w.e.f.15th December 2025

What is the SBI Tax Saver FD?

The SBI Tax Saver FD or Tax Savings Scheme is an FD with a minimum 5-year lock-in period and guaranteed returns. It is specially designed for individuals and HUFs who want to reduce their taxable income while keeping their money safe. By investing in this scheme, you can claim a deduction of up to Rs 1.5 lakh under Section 80C every financial year.

Who Can Apply for the SBI Tax Saver FD?

You can invest in SBI’s Tax Saver FD if you fall under the following categories:

• Resident Indian individuals who are 18 years and above
• Hindu Undivided Families (HUFs)

Features of SBI Tax Savings Scheme

Below are the features of the SBI Tax Savings Scheme:

• Tenure: You need to stay invested for a minimum of 5 years. You can also choose to extend it up to 10 years.
• Minimum Tenure: You need to stay invested for at least 5 years. You can also choose to extend it up to 10 years.
• Interest Compounding: Your interest compounds every quarter, so your money keeps growing steadily over time.
• No Loans Against This FD: Unlike regular FDs, you cannot take a loan against the SBI Tax Saver deposit during the lock-in period.
• Minimum and Maximum Investment: You can start with as little as Rs 1,000. The maximum you can invest in a year is Rs 1,50,000.
• Nomination: You can add a nominee to your FD so your family can access the funds easily if something happens to you.
• Joint Accounts: If the primary holder passes away, the surviving holder can withdraw the funds without penalty.
• Transfer Between Branches: You can transfer your FD from one SBI branch to another, but not to a different bank.
• Premature Withdrawal: Generally not allowed before 5 years. However, in case of the depositor's death, the nominee or legal heir can withdraw the amount at any time.

Required Documents for SBI Tax Savings Scheme

To open an SBI Tax Saving Fixed Deposit, you need to submit:

• A filled-in application form
• Valid ID and address proof (Aadhaar, PAN, Passport, Voter ID, Driving Licence, or NREGA card)
• Two recent passport-sized photos

For updated documentation requirements, you can always contact SBI’s customer care.

How to Open SBI Tax Saver FD Online?

Follow these simple steps to invest in an SBI online tax saver FD through Internet Banking:

• Log in to your SBI net banking account with your credentials.
• Go to the ‘e-Fixed Deposit’ section on the dashboard.
• Select ‘e-TDR/e-STDR under SBI Tax Saving Scheme and click 'Proceed’.
• Choose your savings account for debiting the FD amount, then enter the desired deposit amount.
• Pick the tenure (5 years), select cumulative or non-cumulative payout, accept the terms, and specify maturity instructions.
• Click ‘Submit’ to confirm. A message will appear once your deposit is successfully booked.

Terms & Conditions to Consider While Investing in the SBI Tax Savings Scheme

Before investing, it’s important to understand the scheme's terms:

• Lock-in Period: Withdrawals are not permitted for the first 5 years from the date of investment.
• Premature Withdrawal: Allowed only after completing 5 years, subject to SBI’s FD policies.
• In the Event of Death:
  • If the sole account holder passes away, the nominee or legal heirs can access the deposit at any time.
  • For joint deposits, the surviving holder may withdraw the amount without penalty if the primary holder passes away. Interest will be paid based on the actual tenure.

Conclusion

The SBI Tax Savings Scheme is one of the simplest and safest ways to save tax in India. With guaranteed returns, zero market risk, and the backing of India's largest bank, it is a reliable choice for salaried individuals, retirees, and senior citizens alike. If you are looking to make the most of your Section 80C limit this financial year, the SBI Tax Saver FD is worth considering.