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.
|Deposit Amount:||Rs.1 lakh|
|Rate of Interest:||6.25%|
|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.
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.
To Know Complete Detail about SBI Fixed Deposit Click Here
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