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    Know About SBI Fixed Deposit Interest Rates 2017  and 2 other FDs

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    5.5% - 7.4% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6.25% - 6.9% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

    Know About SBI Fixed Deposit Interest Rates 2017 is Rated as "Excellent!" by 383 Users

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    Know About SBI Fixed Deposit Interest Rates 2017

    The State Bank of India (SBI) is a nationalized government-owned bank. The Government of India owns 58.6% shares in SBI and the remaining is held by various shareholders. SBI has over 14,000 branches spread across the country, making its domestic presence massive, and it keeps increasing as it acquires more state banks.

    SBI offers some of the most attractive and sought after Fixed Deposit (FD) schemes in the country. The features and rates of interest offered are very competitive, and is available to all investors looking for a safe, fixed returns investment avenue.

    The interest rates on FDs are subject to change depending on a bank’s operating and liquidity needs. We ensure rates at BankBazaar reflect the latest changes.

    SBI FD Interest Rates

    The revised Interest rates per annum for 'Regular & Senior Citizen with effect from 29th April 2017 are as follows:

    Tenures Regular FD Rates Senior Citizen FD Rates
    7 days to 45 days 5.5 6
    46 days to 179 days 6.5 7
    180 days to 210 days 6.5 7
    211 days to less than 1 year 6.5 7
    1 year to 455 days 6.9 7.4
    456 days to less than 2 years 6.75 7.25
    2 years to less than 3 years 6.25 6.75
    3 years to less than 5 years 6.25 6.75
    5 years and up to 10 years 6.25 6.75

    Short-term Fixed Deposit Rates

    SBI offers short-term deposits from interest rates of 5.5%p.a. – 6.5%p.a., quarterly compounded.

    The shortest term available is 30 days, which offers a 5.5% annual rate of interest. The rate of interest increases with an increase in the term of the FD. For deposit periods of 60, 90 and 120 days, the rate of interest is at 6.5% p.a. If you invest in a FD for 6 or 9 months, then the rate of interest you can earn are 6.5% p.a. respectively. The FD with a deposit tenure of one year earns an interest of 6.5% p.a. Considering a quarterly compounding frequency, the effective or annualized interest is quite competitive and a profitable short-term investment.

    New SBI fixed deposit interest rates 2017

    Medium and Long-term Fixed Deposit Rates

    Fixed Deposits that feature tenures of more than a year, up to 5 years, have interest rates ranging from 6.9%p.a. - 6.75% p.a. The term could be for 1.6, 2 years. While the rates for these tenures hover around 6.25% p.a., the rate on a 1.6 is 6.9% but for 2-years , the interest rate is 6.25% p.a. Again these rates are compounded quarterly and give customers an effective yield that delivers attractive returns. More than 2 years the fd interest rate is 6.25%.

    SBI Reinvestment Plan Rates

    State Bank of India is the country's largest nationalized government owned bank, which has a network of 14,000 branches spread across the country. They offer some of the most sought after fixed deposits in the country. They also now have a Reinvestment Plan, this will be a variant of a term deposit with the interest earned by the deposit being paid out only at the time of maturity of the plan. The tenure for this kind of deposit will be minimum of 6 months - maximum of 10 years. The minimum amount to be paid will be Rs. 1,000. This Reinvestment plan will include premature withdrawal, loan in terms of overdraft, TDS as per Income Tax norms etc.

    Senior Citizens FD Rates

    Most banks offer higher rates of interest for senior citizens, with SBI the rates of interest range from 6% for a 30 day term to 6.75% for a 5 year FD. The rate of interest of the FD vary depending on the term as it does with FDs in general. Since the interest is compounded quarterly it can add great to the maturity value of the FD. This addition can provide senior citizens with a regular if not an additional source of income.

    Know how to Link Your KYC Documents to SBI Bank Account

    News About State Bank of India Fixed Deposit

    • State Bank of India reduces term deposit rates by up to 0.50%

      The nation's largest lender State Bank of India (SBI) has decided to reduce the interest rates on Fixed Deposits (FDs) by 0.50%. The new interest rates are applicable for medium and long-term FDs that is below Rs.1 Crore. SBI was offering 6.75% of interest on 2-3 years of deposits, however, now the interest an individual can earn will be limited to 6.25%. The new rates are also revised for Senior Citizens. For the deposits that are made for more than three years, SBI will offer an interest rate of 6.50%. The new rules are effective from 29th of April.

      10th May 2017

    • State Bank of India slashes FD rates to 7.05%, 6 year low

      In a huge setback for customers, State Bank of India has reduced the interest rate on its one-year Fixed Deposits to a six year low of 7.05%. This was done after the most recent round of cuts put forth by the largest bank in India and saw rates on two-year and three-year deposits being increased to 7% and 6.5%, respectively. The last time such as incident occurred was between October 1 and December 7 in the year 2010 when the rate of interest was down to 7%.

      SBI’s peer in Delhi, the Punjab National Bank has reduced the rate of interest on one-year deposits by 5bps or basis points to 7.2% and those on 2-year and 3-year deposits by 10bps or base points each to 7.05%. Bank of Baroda has maintained the rate of interest on Fixed Deposits of one and two years, but has decreased the interest rate on 3-year deposits by 5 base points to 7.25%. Important lenders from the private sector such as HDFC Bank, Axis Bank and ICICI Bank have held rates on their one-year, two years and three years deposit at 7.25%.

      Reducing the rates on fixed deposits are necessary for banks to maintain their margins while transmitting the Reserve Bank of India’s rate cuts, which has amounted to 175 base points since the January of 2015 to borrowers. Borrowers are likely to get better deals but fixed deposits are also becoming increasingly unappealing for savers.

      7th November 2016

    • SBI to Benefit from Lower Bulk Deposit Rates As Government Looks To Park less Surplus with RBI

      Deposits of over Rs 1 Crore have seen interest rates rise over the previous two months on the back of tightening liquidity conditions within the system. This rise has impacted the ability of lenders to reduce rates even though the Reserve Bank of India has hinted at this effect taking place as an outcome of its policy decisions.

      The biggest lender in the country, The State Bank of India, have raised their bulk deposit rates over the previous two months. They have coupled this with a raise in interest rates on term deposits of over Rs 1 crore by 25-125 basis points from mid-January.

      14th March 2016

    • SBI to ask for separate interest rates on small savings.

      The State Bank of India, one of the leading public sector banks in India request the Centre to set differential interest rates on small savings schemes as per age groups. This is almost similar what banks offer to senior citizens. Banks in India offer 25-50% basis point higher interest rates on senior citizen deposits. As per the study conducted by SBI, a person belonging to the age group of 30-45 mainly saves for the purpose of tax saving whereas individuals above the age of 45 years save for social security related reasons.

      7th January 2016

    • State Bank of India decides to reduce rate of interest for deposit of all tenures

      After the repo rate cut by the Reserve Bank of India being higher than expected, banks like State Bank of India decides to reduce rate of interest for deposit of all tenures by 0.25% The lending rate of banks was to reduce after the policy came into play, but with the repo rate cut being higher the banks will need to make up by lowering their deposit rate to maintain a balance between the lending and borrowing.

      5th October 2015

    • SBI cuts deposit rates on select maturities

      New Delhi: The State Bank of India slashed deposits rates on certain maturities by 25 to 50 basis points on Tuesday. The rate cuts will be effective from August 19. A 25 basis points cut will be applicable for deposits with tenors of 180 days and up to three years, while 50 basis points will be applicable for deposits above three years. The revised interest rates for retail domestic term deposits below Rs. 1 crore will be 7% for tenor of 180 days to 210 days as against 7.25% earlier. The revised rates for deposits below Rs. 1 crore for tenors ranging from 1 year to 455 days, 2 years to less than 3 years and 3 years to less than 5 years will be 7.5% (7.75% earlier), 7.75% (previously 8%) and 7.25% (7.75%) respectively. For tenor ranging from 5 years and up to 10 years, the revised rate will be 7.25% from 7.75% earlier.

      The revised rate applicable to senior citizens and SBI pensioners aged 60 years and above will be 0.25% above the rate payable for all tenors to resident senior citizens in India.

      Oriental Bank of Commerce announced a rate cut from 10% p.a to 9.90% (10 basis points) on Friday.

      19th August 2015

    • SBI Slashes FD Interest Rates on 1-3 Year Tenures

      In August of this year, India’s premier public sector bank, State Bank of India (SBI) had slashed its prevalent interest rates on fixed deposits for tenures exceeding five years from 8.75% to 8.50%, a full drop of 0.25 basis points. Continuing this trend, the bank has now extended a similar cut to fixed deposits with tenures ranging from 1-3 years that host fixed deposits of less than Rs.1 crore. Starting December 8, the interest rates for such maturities will lower by 0.25%, a fall from the current rate of 8.75% to 8.50%, specifically applicable for NRE deposits that have tenures of one year and above. According to experts, this move is aimed at curbing the problem of high liquid funds available with SBI, and the lack of demand for credit that correspondingly requires an adjustment of the Asset Liability Management (ALM).

      9th December 2014

    • SBI Cuts Interest Rates on Short Term Deposits, Again

      India’s largest public sector bank, the State Bank of India (SBI) has slashed interest rates on select short term maturities, yet again. This strategic move, to be effective from November 1st 201, is the third time in the last three months that SBI has taken the axe to it’s promising short term maturities portfolio (up to Rs.1 crore maturing in 7-45 days). The lender has dropped a whole percentage point, going from the prevalent 6% to 5%, a move that will not be enthusiastically received by depositors in the higher investment bracket.

      SBI Chairman Arundhati Bhattacharya lists the bank’s excess of liquid funds and lack of demand for credit that requires an adjustment of the Asset Liability Management (ALM), as the express reason for this flash move. Experts at the India Ratings and Research Pvt Ltd believe that these gradual changes in the deposit rates will allow SBI to improve it’s Net Income Level (NIL) over the forthcoming period of time. Earlier, the premier lender had reduced the interest rate on deposits in the 7-45 days margin by 100 basis points to 6% as on 30th September. Before that, on 16th September, the bank had slashed interest rates on medium term deposits with tenures of a year to less than three years by 25 basis points to arrive at 8.75% and a further 25% basis points on deposits in the 180-210 days bracket to a value of 7.25%. All in all, it’s a period of aggressive shake-ups at SBI.

      29th October 2014

    • SBI’s Second Rate Revision on Short-Term Deposits

      SBI announced 1% rate reduction on it's FD schemes of tenors up to 45 days. The returns now stand at 6% p.a. from 7% p.a., effective October 7th, 2014. This is the second time within a span of one month that SBI has revised interest rates following 0.25% reduction in the month of September on it's medium-term deposits.

      Stiff competition in the retail loan segment and the start of the festival season prompted many banks to offer discounts on their lending rates. In order to sustain profitability banks will have to maintain a healthy balance between deposit and credit growth. While SBI’s deposit growth remains satisfactory, credit growth has not kept pace. This is a situation most banks appear to be facing given the slow uptake in corporate credit demand.

      6th October 2014

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  • SBI Fixed Deposit Reviews

    • SBI Fixed Deposit
      "Very good in services"
      0.5 5.0/5 "Blown Away!"
      When I wanted to open a fixed deposit account at State Bank of India. I did not have to visit the bank. I opened the account online and though the rate of interest is not that appealing. I am happy with the overall experience and process and the convenient banking process.
      Was this review helpful? 8
      , guwahati
      Reviewed on May 31, 2017
    • SBI Fixed Deposit
      "Convenient to Hold"
      0.5 4.0/5 "Great!"
      It has been two years when I opened fixed deposit with State bank of India. The period is for five years. Since I completed two years, three years to go. Interest rate is of 11%. Actually SBI is located near to my house so I feel more comfortable in visiting the bank at any instance. All the staffs are very friendly and very cooperative.
      Was this review helpful? 5
      , visakhapatnam
      Reviewed on May 25, 2017
    • SBI Fixed Deposit
      "Secured investment"
      0.5 5.0/5 "Blown Away!"
      Compared to other banks SBI offering good interest rate on fixed deposit, they offered me 7.95% of interest. I have the amount of Rs. 2.4 lakhs for the tenure of three years. After the maturity period I got the amount around 2.9 lakhs. I am very much fine with that.
      Was this review helpful? 4
      , hyderabad
      Reviewed on May 24, 2017
    • SBI Fixed Deposit
      "Too much of process involved"
      0.5 2.5/5 "Just OK"
      At other private bank a fixed deposit could be opened online and a customer does not have to visit the bank. In my case I had to visit State bank of India to open a fixed deposit and it has a lot of process involved. Like wise to close the same it is the same scenario.
      Was this review helpful? 5
      , pune
      Reviewed on May 10, 2017
    • SBI Fixed Deposit
      "Good "
      0.5 5.0/5 "Blown Away!"
      I am having fixed deposit account with the State bank of India and the interest rate is around 6.2% for the tenure of five years of time. I have opened this account through online, so it got happened very immediately. Charges are nil with them and I can get the money withdrawal in fraction of seconds.
      Was this review helpful? 5
      , pondicherry
      Reviewed on May 09, 2017
    • SBI Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Long back I had Fixed deposit account with State bank of India. I selected the tenure period for six years. The bank had fixed a good rate of interest. At last I received the money with the promised interest amount. I am much satisfied with SBI for the FD service.
      Was this review helpful? 4
      , hyderabad
      Reviewed on May 09, 2017
    • SBI Fixed Deposit
      "Satisfactory Service"
      0.5 5.0/5 "Blown Away!"
      Even I have fixed deposit with State bank of India. The tenure period is one year. I deposit certain amount with them as their interest rate is good and incomparable. SBI gives good response to the people and they are very supportive as well. I have no issues with SBI.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • SBI Fixed Deposit
      "Average "
      0.5 1.0/5 "Really Bad"
      I had invested in fixed deposit with the State bank of India and the interest rate is very less like its around 7.15%, also the returns are also very less, which will be also applicable with the tax. Services provided by them is really not good and I would like to suggest that they need to provide the customer service in a much better way.
      Was this review helpful? 3
      , bhopal
      Reviewed on May 03, 2017
    • SBI Fixed Deposit
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      In terms of interest rate and everything State Bank of India is fine to have the fixed deposit and the service aspects are working fine with them. I am having this account from the last six to seven years of time and the response is always very good with the State Bank of India.
      Was this review helpful? 2
      , mundra
      Reviewed on May 03, 2017
    • SBI Fixed Deposit
      "Its Trusted"
      0.5 4.0/5 "Great!"
      I was studying college, I have opened Fixed deposit in SBI, it is located in my college campus. I have submitted pan card, address proof, id proof to them and I have invested the amount of Rs.1,25,000 its for the period of four years, but I am not sure what is the benefit I will get after that maturity period.
      Was this review helpful? 24
      , chandigarh
      Reviewed on Mar 30, 2017
    • SBI Fixed Deposit
      "Good deposits"
      0.5 4.0/5 "Great!"
      SBI deposits are better all I am in need of is savings therefore I had opted for it but the charges are very high. I had taken it for 11 months fixed deposit. I am supposed to get 55k however I had got only 50k however they had deducted money for charges and the remaining as credit
      Was this review helpful? 16
      , coimbatore
      Reviewed on Feb 04, 2017
    • SBI Fixed Deposit
      "My FD account"
      0.5 2.0/5 "Expected more"
      SBI fixed deposit is fine, the rate of interest is too low I dont invest in SBI Fixed Deposit. I had opted for this FD through the branch. at the time I was holding a salary account at that point of time that is why I had opted for SBI FD and later it was closed
      Was this review helpful? 18
      , chennai
      Reviewed on Jan 04, 2017
    • SBI Fixed Deposit
      "Online FD Application "
      0.5 1.5/5 "Bad"
      The online method or the system of SBI for applying for Fixed Deposit/recurring deposit is very bad. I did not understand only how to apply and due to that I applied through my Wife's account in IDBI. IDBI has very easy and understandable method for the same.
      Was this review helpful? 10
      , mumbai
      Reviewed on Dec 29, 2016
    • SBI Fixed Deposit
      "The best FD"
      0.5 4.0/5 "Great!"
      The prime reason for selecting SBI for the Fixed Deposit is the rate of interest which is 7.8% as it is the best in the market. I am holding this FD for a period of 4 to 5 years of time. No drawback nor challenges as such. This FD was opened at the Branch.
      Was this review helpful? 14
      , kolkata
      Reviewed on Dec 08, 2016
    • SBI Fixed Deposit
      "SBI is a very good provider"
      0.5 5.0/5 "Blown Away!"
      Rate of interest offered by SBI fixed deposit is very much satisfactory. Their staffs are very much cooperative . I hold a savings account with the said bank based on which they had offered this FD. Interest rate offered by them was 9.8% and they are providing tax benefits too.
      Was this review helpful? 23
      , guntur
      Reviewed on Nov 29, 2016
    • SBI Fixed Deposit
      "Its wonderful"
      0.5 4.0/5 "Great!"
      SBI fixed deposit is wonderful this was taken before 2 years. The total term of FD is 5 years. I do get some tax benefit too. I had filled the form by visiting the Branch and I had provided the FD receipt too. The best I like about SBI is it is very much secured.
      Was this review helpful? 10
      , bangalore
      Reviewed on Nov 14, 2016
    • SBI Fixed Deposit
      "Its really good"
      0.5 5.0/5 "Blown Away!"
      I had parked my funds on my SBI FD and I had signed up for this FD online myself . I am holding this FD account for the past 10 years. There is no drawback nor any challenges as such. It takes hardly 2 minutes to open this FD . Online I can view and change my maturity instructions. As of now its auto renewal I can also change the maturity instructions online myself.
      Was this review helpful? 8
      , noida
      Reviewed on Nov 03, 2016
    • SBI Fixed Deposit
      "Safe and secured"
      0.5 4.0/5 "Great!"
      Interest that I earn on my SBI FD is awesome. I am not getting any prefential interest for my profile though I am a defense person The bank is next to my locality that is the benefit. I had been to the branch for opening this account I had produced a cheque for opening this FD. On the same lines, I guess they require a SBI account for opening FD with the said bank.
      Was this review helpful? 13
      , chandigarh
      Reviewed on Sep 07, 2016
    • SBI Fixed Deposit
      "My FD experience"
      0.5 5.0/5 "Blown Away!"
      My FD with SBI is opened and closed online, it took hardly 5 minutes for me to open the fixed deposit. I had closed it online myself and the money was credited to my account in a day's time and that is the best part about it. Also, I was able to do auto renewal as there is an option available online, also there was an option to add nominee too.
      Was this review helpful? 15
      , pune
      Reviewed on Aug 26, 2016
    • SBI Fixed Deposit
      "Good Services"
      0.5 5.0/5 "Blown Away!"
      I hold a fixed deposit with State bank of India. It has been a very easy process to open this account. They offer a rate of interest of 4%. There are no charges taken. The bank is just 200 meters away from the place I work and I have a friend of mine working over there. He clarifies my doubts immediately.
      Was this review helpful? 9
      , new delhi
      Reviewed on Jul 30, 2016
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