Knowing the current SBI FD interest rates will help you invest smartly and ensure maximum returns. The interest rates depend on:
- The deposit amount
- The investment term
- The type of deposit
Staying informed about the rates will give you insight into which terms best suit your goals, enabling you to make the most of your funds. Read on to know the current rates and other key details.
Latest Fixed Deposit Interest Rates of SBI
SBI offers numerous fixed deposit options, including:
- Callable FDs
- Non-callable FDs
- FDs for NRO and NREs
- FCNR FDs
Here are the rates of some popular SBI FD schemes:
- For Callable Deposits Under ₹2 crores
| Tenure | FD rates for regular investors (%p.a.) | FD rates for senior-citizen investors (%p.a.) |
|---|---|---|
| 7 days to 45 days | 3.50% | 4.00% |
| 46 days to 179 days | 4.75% | 5.25% |
| 180 days to 210 days | 5.75% | 6.25% |
| 211 days to less than 1 year | 6.00% | 6.50% |
| 1 Year to less than 2 years | 6.80% | 7.30% |
| 400 days (Amrit Kalash) | 7.10% | 7.60% |
| 2 years to less than 3 years | 7.00% | 7.50% |
| 3 years to less than 5 years | 6.75% | 7.25% |
| 5 years and up to 10 years | 6.50% | 7.50% |
- For Non-Callable (Sarvottam) Deposits Under ₹2 crores
| Tenure | FD rates for regular investors | FD rates for senior citizen investors |
|---|---|---|
| 1 year | 7.10% per annum | 7.60% per annum |
| 2 years | 7.40% per annum | 7.90% per annum |
- For NR0, NRE and FCNR Deposits
For NRE Deposits
| Tenures | Deposits under ₹2 crores (p.a.) | Deposits above ₹2 crores (p.a.) |
|---|---|---|
| 1 year to less than 2 years | 6.80% | 6.80% |
| 400 Days (Amrit Kalash) | 7.10% | – |
| 2 years to less than 3 years | 7.00% | 6.75% |
| 3 years to less than 5 years | 6.75% | 6.25% |
| 5 years to 10 years | 6.50% | 6.00% |
For NRO Deposits
| Tenures | Deposits under ₹2 crores (p.a.) | Deposits above ₹2 crores (p.a.) |
|---|---|---|
| 7 days to 45 days | 3.00% | 5.00% |
| 46 days to 179 days | 4.75% | 5.75% |
| 180 days to 210 days | 5.75% | 6.50% |
| 211 days to less than 1 year | 6.00% | 6.75% |
| 1 year to less than 2 years | 6.80% | 6.80% |
| 400 Days (Amrit Kalash) | 7.10% | – |
| 2 years to less than 3 years | 7.00% | 6.75% |
| 3 years to less than 5 years | 6.75% | 6.25% |
| 5 years and up to 10 years | 6.50% | 6.00% |
For FCNR Deposits
Currency and interest rates per annum:
| Tenure (in years) | USD | GBP | EURO | CAD | AUD | JPY |
|---|---|---|---|---|---|---|
| 1 | 5.55 | 5.10 | 4.00 | 4.50 | 4.50 | 0.05 |
| <1 to >2 | 5.55 | 5.10 | 4.00 | 4.50 | 4.50 | 0.05 |
| 2 to >3 | 4.25 | 5.00 | 1.50 | 4.10 | 4.40 | 0.05 |
| 3 to >4 | 3.95 | 4.00 | 1.50 | 3.85 | 4.30 | 0.05 |
| 4 to >5 | 3.85 | 4.00 | 1.50 | 3.90 | 4.20 | 0.05 |
| 5 | 3.90 | 3.90 | 1.50 | 3.95 | 4.10 | 0.05 |
The above interest rates for all schemes are current as of February 2024 and are subject to change at the bank’s discretion.
Also Read: Sbi Bank Statement Download Online
Reasons to Invest in Fixed Deposits
Investing in FDs offers various benefits. Some of these are:
- Helps diversify your investment portfolio and mitigate risks
- Enables you to secure financial growth with minimal risks, as an FD is not linked to market fluctuations
- Allows you to tailor your investment to your needs with multiple FD options
- Ensures that your investment is secure with the DICGC insurance cover on bank FDs
- Helps maximise your returns with attractive rates on various schemes
- Allows you to invest as per your current finances and future goals due to the flexibility in investment mode, amount and tenure
In addition to the above, you can pledge your fixed deposits as collateral and get immediate funding. Many issuers offer up to 90% of your FD as a loan at affordable interest rates, ensuring you don’t put your financial growth at risk.
If you don’t have an FD or don’t want to use it as collateral but need urgent funds, you can get a collateral-free Personal Loan of up to ₹5 lakhs from Fibe. You enjoy flexibility in repayment with a choice of tenures, zero pre-closure charges and more.
Download our Instant Loan App or register on our website for a hassle-free and entirely digital application process!
FAQs on Fixed Deposit Interest Rates at SBI
What is the FD rate for ₹1 lakh in SBI?
The SBI FD rates depend on the chosen tenure, which ranges from 7 days to 10 years. So, your rates may be as follows:
- Between 3.50% to 7.10% per annum if you are a regular (non-senior citizen) investor
- Between 4.00% to 7.60% per annum if you are a senior citizen investor
Which is the best FD scheme in SBI?
The best FD scheme depends on:
- Investment purpose
- Investment horizon
If you’re planning on not making premature withdrawals, opt for the Sarvottam FD since it offers slightly higher returns. Other schemes offered by the bank include:
- Retail term deposits
- NRE/NRO deposits
- FCNR deposits
What is the new FD interest rate in SBI in 2024?
SBI FD rates as of February 2024 are as follows:
- Regular citizens: 3.50% to 7.10% per annum
- Senior citizens: 4.00% to 7.60% per annum
What is the FD rate for senior citizens in SBI?
Senior citizens get an additional 0.50% hike in FD rates, so their rates range from 4.00% to 7.60% per annum.
Is SBI safe for fixed deposits?
Yes, SBI is safe since your deposits are insured under DICGC.