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    SBI Fixed Deposit Rates

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    5.5% - 7.5% Quarterly compounding
    Response Time Within 30 minutes
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6.5% - 6.95% Quarterly compounding
    Response Time Within 30 minutes

    SBI Fixed Deposit Rates is Rated as "Excellent!" by 369 Users

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    An overview of the State Bank of India

    The State Bank of India (SBI) is a nationalised 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 Fixed Deposit Rates

    Short-term Fixed Deposit Rates

    SBI offers short-term deposits from interest rates of 5.25% p.a. – 7.25% p.a., quarterly compounded.

    The shortest term available is 30 days, which offers a 5.25% 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 6.75% & 7.0% p.a. respectively. The FD with a deposit tenure of one year earns an interest of 7.25% p.a. Considering a quarterly compounding frequency, the effective or annualised interest is quite competitive and a profitable short-term investment

    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 7.0% p.a. -7.5% p.a. The term could be for 1.6, 2, 3, 4, and 5 years. While the rates for these tenures hover around 7.0% p.a., the rate on a 1.6 & 2-years FD will give you an added advantage of an extra 0.5% making the interest 7.5% p.a. Again these rates are compounded quarterly and give customers an effective yield that delivers attractive returns.

    The updated list of SBI Fixed Deposit Interest Rates, per specific tenures, is listed below:

    Duration of Deposit Regular Deposit
    7 days to 45 days 5.5
    46 days to 179 days 6.5
    180 days to 210 days 6.75
    211 days to less than 1 year 7
    1 year to 455 days 7.25
    456 days to less than 2 years 7.5
    2 years to less than 3 years 7.5
    3 years to less than 5 years 7
    5 years and up to 10 years 7

    *Above Interest rates are as of 04 Dec 2016

    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.

    The Reinvestment Plan can have investors from NRO, General Public and Staff deposits, the maturity value of the different tenure will be as mentioned below:

    For example let’s assume the amount deposited is Rs. 100/-

    Duration of Deposit Regular Deposit
    7 days to 45 days 5.50
    46 days to 179 days 6.50
    180 days to 210 days 6.75
    211 days to less than 1 year 7.00
    1 year to 455 days 7.15
    456 days to less than 2 years 7.25
    2 years to less than 3 years 7.25
    3 years to less than 5 years 7.00
    5 years and up to 10 years 7.00

    Senior Citizens FD Rates

    Most banks offer higher rates of interest for senior citizens, with SBI the rates of interest range from 5% for a 30 day term to 7.25% for a 5 year FD. The rate of interest is increased by 0.25% for senior citizens. 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.

    The updated list of SBI Senior Citizen FD Rates, per specific tenures, is mentioned below:

    Duration of Deposit Senior Citizen Deposit
    7 days to 45 days 5.75
    46 days to 179 days 6.75
    180 days to 210 days 7.00
    211 days to less than 1 year 7.25
    1 year to 455 days 7.40
    456 days to less than 2 years 7.50
    2 years to less than 3 years 7.50
    3 years to less than 5 years 7.25
    5 years and up to 10 years 7.25

    *Interest rates mentioned above are as of 04 Dec 2016

    Know how to Link Your KYC Dcuments to SBI Bank Account

    News About State Bank of India Fixed Deposit

    • 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

    • SBI cuts Deposit rates by 0.25%- other banks expected to follow

      SBI has recently cut it’s deposit rates on the middle and term deposits ranging from 1 year to 3 years @0.25%, keeping it at a reduced interest rate of 8.75% from 9.00%. But, this is only one side of the coin. On it’s other side, SBI has increased the interest rates on the shorter term by 0.25%, keeping it at an increased interest rate of 7.25% from 7.00% earlier. These changes are due to the controlled and sufficient funds level maintained with the bank.

      Such changes will be followed by other banks too, those who are sailing in the same boat. So, we can expect a reduction in the middle and the long term deposits interest rates in the near future followed by an increase in the short term deposits interest rates. But, this would be possible if other banks would be having sufficient funds to maintain liquidity.

      Keep visiting BankBazaar for similar updates!

      17th September 2014

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