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  • Fixed Deposit BYTES FROM OUR KITCHEN

    How To Open SBI Fixed Deposit (FD) Online

    Opening an FD online in State Bank of India (SBI) is a simple process and can be done without even stepping out of your house by following a set of instructions. All SBI account holders can use the net banking platform to open an e-fixed deposit at the click of a button. SBI customers can choose from the wide range of FD options and open one that best suits their interests.

    Use an online FD interest calculator before purchasing one to calculate the maturity value and interest rate on an SBI online FD. This can be done online by entering then principal amount, tenure, rate of interest and type of interest payout option.

    Stepwise process to open SBI FD online

    • Step 1: Open www.onlinesbi.com and log in to SBI net banking by providing personal details
    • Step 2: Go to the homepage, click on the ‘Deposit Schemes’ option and go to ‘Term Deposits’. Then click on ‘e-fixed deposit’ on the top menu
    • Step 3: Proceed to choose the type of FD you want to open and click ‘Proceed’
    • Step 4: Choose the account from which money has to be debited if you have multiple bank accounts.
    • Step 5: Also choose the FD principal value and fill the same in the ‘Amount’ column. Tick the ‘Senior Citizens’ tab if you are above 60.
    • Step 6: Choose a cumulative/STDR deposit or a non-cumulative/TDR deposit and choose maturity date or internet payout frequency accordingly.
    • Step 7: Choose maturity instructions, and accept terms and conditions after reading. Click the ‘Submit’ button to successfully open an FD

    Checklist/requirements for opening SBI FD online

    • A savings account with SBI
    • An online banking account
    • A mobile banking account

    SBI FD Calculator

    Deposit Amount: Rs.1 lakh
    Rate of Interest: 6.25%
    Tenure: 1 year
    Maturity Amount: Rs.1,06,398
    Total Interest Earned: Rs.6,398

    Use an FD calculator (Fixed Deposit Calculator) to know the maturity amount and total interest earned on an SBI FD. For example, if you invest Rs.1 lakh for a period of 1 year at an interest rate of 6.25%, the maturity value will be Rs.1,06,398. The total interest earned will be Rs.6,398. The interest is compounded on a quarterly basis.

    Advantages of opening an FD online

    • Easy, less time-consuming: An online FD eliminates the need to visit a bank branch physically and makes opening an FD a very easy and hassle-free process.
    • Easy payment: It is very easy to pay for the FD and this can be done directly through net banking, making the payment process very convenient and smooth. All you need to do is transfer the money from the savings account to the respective FD account.
    • Easy renewal, closure: Once you open an FD online, you can renew and close the deposit online instantly. Hence, there is no need to go to the bank for any of these purposes.

    FAQs

    1. What is TDR and STDR deposit?

    TDR, is expanded as Term Deposit, while STDR is expanded as Special Term Deposit. In an STDR deposit the interest is paid only at the time of maturity but in a TDR deposit the interest is paid at selected regular intervals.

    2. What is the tenure range for online FDs in SBI?

    The minimum tenure for TDR deposits is 7 days and the minimum tenure for STDR deposits is 180 days. Then maximum tenure is 13650 days for both types of deposits.

    3. What is the minimum amount that needs to be put into an online FD account?

    The minimum principal amount that needs to be invested is Rs.1000.

    4. Can new customers open an FD account online?

    No. New customers will have to first have an internet banking account to open an FD online. Prospective customers will therefore have to request for an internet banking account to open an FD online.

    5. Can customers choose tenue range and type of deposit online?

    Yes. This can be done by following the stepwise process to open an FD online.

    SBI Fixed Deposit Reviews

    • SBI Fixed Deposit
      "Best Investment plan"
      0.5 5.0/5 "Blown Away!"
      I have taken fixed deposit account in State Bank Of India . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and response.They are giving good rate of interest . Overall am happy with my account .
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Dec 29, 2018
    • SBI Fixed Deposit
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had made this investment pretty long time back and the services which they had provided so far has been good. The interest rate with them has been good and the growth with the investment has also been good. Their customer support has been helpful in guiding with everything.
      Was this review helpful? 8
      , bangalore
      Reviewed on Dec 14, 2018
    • SBI Fixed Deposit
      "Good Investment Plan"
      0.5 4.0/5 "Great!"
      I have taken fixed deposit account in STATE BANK OF INDIA . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and response.They are giving good rate of interest . Overall am happy with my account .
      Was this review helpful? 4
      , mumbai
      Reviewed on Dec 12, 2018
    • SBI Fixed Deposit
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I had a Fixed Deposit account with SBI and my experience was average, an amount of Rs 20000 is paid as a fixed amount. Customer service was not up to the mark with SBI. I am not aware of the returns in this Fixed deposit account.
      Was this review helpful? 6
      , kolkata
      Reviewed on Nov 20, 2018
    • SBI Fixed Deposit
      "Good returns"
      0.5 5.0/5 "Blown Away!"
      I had a Fixed Deposit account with SBI and my experience was good, an amount of Rs 1 lac is paid as a fixed amount. Customer service was very good and they explained all the terns and conditions. I am satisfied with the returns in this Fixed deposit account.
      Was this review helpful? 3
      , gurgaon
      Reviewed on Nov 20, 2018
    • SBI Fixed Deposit
      "Good Investment"
      0.5 5.0/5 "Blown Away!"
      I have fixed deposit in SBI, the interest rate is good around 8.9% for the period of one year. I can invest the min of Rs. 500 to 15 lakhs, I have not tried reaching them because everything is going well. I get message every time after making a payment on month basis.
      Was this review helpful? 8
      , hyderabad
      Reviewed on Nov 12, 2018
    • SBI Fixed Deposit
      "Average Investman plan"
      0.5 2.0/5 "Expected more"
      I have taken Fixed deposit account from the state bank of India . There is no additional charges for the account. It is short term investment plan for 5 years but am not satisfied with the rate of i9nytrest which they are giving . I used to get income tax benefits . Customer service and response is not that much good .
      Was this review helpful? 5
      , bangalore
      Reviewed on Nov 10, 2018
    • SBI Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have a fixed deposit account with State Bank of India. The experience is fine and there are no hassles to open this account. The interest I earn on this account is also satisfactory. The customer support and response is good at the bank. It has been a smooth process.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 27, 2018
    • SBI Fixed Deposit
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a Fixed Deposit with SBI from last 3 years, i am satisfied with the returns of Fixed Deposit which is 8%-9%. The maturity period for Fixed Deposit is 5 years. Customer support was very good and they explained all the terms and conditions..
      Was this review helpful? 9
      , secunderabad
      Reviewed on Oct 19, 2018
    • SBI Fixed Deposit
      "Good in all"
      0.5 3.5/5 "Pretty good"
      I hold a fixed deposit account with State Bank of India. I had to visit the bank to open this account, it is a tedious process as it was not online. I had to fill in the application for the same. In all there has been a very good experience. Good overall.
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 18, 2018
    • SBI Fixed Deposit
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have a Fixed Deposit account with SBI from last 4 years, the maturity period for this FD is 18 years. I invested an amount of Rs 5 lacs in Fixed Deposit account. Customer service was good with SBI and i get good returns of 8% after the maturity period.
      Was this review helpful? 13
      , hyderabad
      Reviewed on Oct 01, 2018
    • SBI Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I have opened a Fixed Deposit with SBI since 2011, i have renewed the FD 2 to 3 times. Customer service is very good with this bank and they explained everything about the returns. I deposit an amount of Rs 1 lac and i get 6.75% as interest on returns.
      Was this review helpful? 18
      , kolkata
      Reviewed on Aug 29, 2018
    • SBI Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken fixed deposit account with state bank of India . I have chosen this bank . As they are offering good rate of interest which will good returns . Am satisfied with the premium amount which am paying . Am satisfied with customer service and response .
      Was this review helpful? 17
      , mumbai
      Reviewed on Jul 25, 2018
    • SBI Fixed Deposit
      "Needs to improve"
      0.5 2.0/5 "Expected more"
      I have a Fixed Deposit account with SBI from last 8 months, i am not happy with the services provided by SBI as their response is not proper and there was no complete information given. I paid an Fixed amount of Rs 1.5 lakhs and in return i get 6.5% as interest which is less when compared to others.
      Was this review helpful? 20
      , gurgaon
      Reviewed on Jul 20, 2018
    • SBI Fixed Deposit
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I've Fixed deposit with the SBI, I deposited 50000. It was so easy to start a fixed deposit with them. 2 years. For senior citizen they offers 7% interest rate which is very low. They also provided me with a credit card with the FD which was also good.
      Was this review helpful? 31
      , chennai
      Reviewed on Jun 11, 2018
    • SBI Fixed Deposit
      "Good Service"
      0.5 2.0/5 "Expected more"
      I've a fixed deposit with the SBI. I deposited 60000 . I also got a credit card as a part of this fixed deposit.I never had any issues with the deposit. The deposit was opened with out any questions asked, they also give an annual interest for this deposit.
      Was this review helpful? 11
      , mumbai
      Reviewed on May 25, 2018
    • SBI Fixed Deposit
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a savings account with SBI. I started a Fixed Deposit with them. I started the FD for tax saving purposes. They do charge some normal annual interest rates of fixed deposit also I had never experienced any difficulty with their services.
      Was this review helpful? 9
      , chennai
      Reviewed on May 21, 2018
    • SBI Fixed Deposit
      "Average"
      0.5 3.0/5 "Satisfactory"
      State Bank Of India fixed deposit service is good. But I am not much comfortable with State Bank Of India process. State Bank Of Indiaonline portal is good, even the payments are through online. It was an average service from Sbi fixed deposit service.
      Was this review helpful? 9
      , pune
      Reviewed on Apr 25, 2018
    • SBI Fixed Deposit
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have opened an Fixed Deposit account with SBI 3-4 years back, the services provided by this bank is good when compared to other banks. I invest 5000-6000 every month. I get 7.5% as an interest on returns. Customer support team guided me well and they gave all right information.
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Apr 20, 2018
    • SBI Fixed Deposit
      "Fixed deposit with SBI"
      0.5 4.5/5 "Excellent!"
      I have opened a fixed deposit with SBI and the rate of interest is 7.75% annually. If i fore close the Fixed deposit then the interest will be adjusted against the amount on pro rate basis. The customer service and response with them is much comfortable.
      Was this review helpful? 9
      , chennai
      Reviewed on Apr 20, 2018
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