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State Bank of India offers attractive interest rates on fixed deposits for tenures that range from 7 days to 10 years with numerous appealing features and benefits. Senior citizens are offered an extra interest rate of up to 0.8%. The interest rates for the general public range from 2.90% p.a. to 5.40% p.a.  

Domestic Term Deposits (Below Rs.2 crores)  

The interest rates for domestic term deposits of under Rs.2 crores are given below: 

Tenors	Interest rates for Public	Interest rates for Senior Citizens
7 days to 45 days	2.90%	3.40%
46 days to 179	3.90%	4.40%
180 days to 210 days	4.40%	4.90%
211 days to less than 1 year	4.40%	4.90%
1 year to less than 2 years	5.00%	5.50%
2 years to less than 3 years	5.10%	5.60%
3 years to less than 5 years	5.30%	5.80%
5 years and up to 10 years	5.40%	6.20%

Domestic Bulk Term Deposits (Rs. 2 Crores or above)  

The interest rate for domestic term bulk deposits of above Rs.2 crore are as given below: 

Tenors	Interest Rates for Public	Interest Rates for Senior Citizens
7 days to 45 days	2.90%	3.40%
46 days to 179 days	2.90%	3.40%
180 days to 210 days	3.00%	3.50%
211 days to less than 1 year	3.00%	3.50%
1 year to less than 2 years	3.00%	3.50%
2 years to less than 3 years	3.00%	3.50%
3 years to less than 5 years	3.00%	3.50%
5 years and up to 10 years	3.00%	3.50%

Features of SBI Fixed Deposits  

SBI fixed deposits have several features which are user-friendly such as:  

• Interest payments on a calendar quarter/quarterly/month to month basis  
• The minimum deposit is Rs.1,000 only  
• No restriction on the maximum deposit  
• Tenure ranges from 7 days to 10 years  
• The nomination facility is accessible  
• Loans of up to 90% of the principal amount can be availed against the FD  
• Overdraft of up to 90% of the principal amount can be availed against the FD  
• Term Deposit with Regular Interest Payout can be changed over to Cumulative Interest Payout as well as the other way around  

SBI NRI FD Rates  

NRO Fixed Deposit Interest Rates  

The interest rate for fixed deposits opened by NRIs is given below:  

Tenors	Interest for deposits below Rs.2 crore	The interest of Rs.2 crore & above
7 days to 45 days	2.90%	2.90%
46 days to 179 days	3.90%	2.90%
180 days to 210 days	4.40%	3.00%
211 days to less than 1 year	4.40%	3.00%
1 year to less than 2 years	5.00%	3.00%
2 years to less than 3 years	5.10%	3.00%
3 years and up to 5 years	5.30%	3.00%
5 years and up to 10 years	5.40%	3.00%

NRE Fixed Deposit Interest Rates  

The interest rates for non-occupant External (NRE) account deposits are as given below:  

Tenors	Interest for deposits below Rs.2 Crore	The interest of Rs.2 Crore & above
1 year less than 2 years	5.00%	3.00%
2 years to less than 3 years	5.10%	3.00%
3 years to less than 5 years	5.30%	3.00%
5 years and up to 10 years	5.40%	3.00%

Advantages of SBI Fixed Deposits  

• Nomination facility  
• Automatic renewal option after the deposit maturity  
• Part withdrawal facility on the deposits  
• Loan avail up to 90% of the deposit amount  
• Online operation for the FD account  

Term-wise State Bank of India FD Interest Rates  

• SBI Short-term Deposits  

Short-term Deposits will be deposits that are opened for a short timeframe that ranges from 7 days to under a year. The premium offered by the SBI to general citizens for opening a Short-term FD is between 2.90% to 4.40% p.a.  

• SBI Medium-term Deposits  

Medium-term fixed deposits have tenures that range from a year to under 5 years. The premium presented by the bank for such deposits goes from 5.00% p.a. to 5.30% p.a.  

• SBI Long-term Deposits  

As the name indicates Long-term fixed deposits are those that have a longer tenure that ranges from 5 years to 10 years. The interest rate for such deposits is 5.40% p.a.  

SBI Fixed Deposits for Senior Citizens  

An extra interest rate of up to 0.80% p.a. is presented to senior citizens for fixed deposits. The rate of interest goes from 3.40% to 6.20% p.a.  

Read More:- Top Bank Fixed Deposits Rates in India

Variables that Affect SBI Fixed Deposit Rates  

There are many components that influence SBI FD interest rates, some of which are given below:  

• Deposit Amount: Higher deposit amounts will get you higher particularly bulk deposits surpassing Rs.2 crore.  
• Deposit Tenure: The more limited the tenure, the lower will be the interest rate, and the more extended the Tenure, the higher the interest rate will be.  
• Investor type: Senior citizens normally get a 0.50% extra interest rate on fixed deposits.  

Read More:- Which is Better - Personal Loan Fixed Interest Rate or Floating Interest Rate?

Calculating SBI FD Interest Rates  

Before you open an SBI fixed deposit account or renew a current one, it assists with ascertaining the amount you will get on maturity, with the additional interest. This will assist you with choosing which Tenure will be the ideal best for you, in view of your prerequisites. This should be possible effectively web-based utilizing the SBI FD interest rate calculator which will show you the specific amount you will procure on maturity for your decent deposit. You should simply enter the figures for the amount you wish to contribute, the interest rate relevant, and the Tenure. The outcome will be shown in a split second on the page.  

Here is an example.  

In case you choose to put Rs.1 lakh in your SBI FD represents a Tenure of 5 years. The applicable interest rate is 5.30% p.a. Upon maturity, with a yearly building recurrence, you will acquire Rs.30,000 as interest and your maturity amount will be Rs.1.3 lakh.  

Read More:- Earn 9.5% Interest on Fixed Deposit in Small Finance Bank

Penalty for Premature Withdrawal of SBI Fixed Deposit  

For a term deposit of up to Rs.5 lakhs, the penalty for untimely withdrawal, across every one of the tenures, is 0.50%.  

TDS for SBI Fixed Deposits  

Tax Deducted at Source (TDS) will be taken provided that Form 15G/15H isn't submitted 

Read More:- Debt Mutual Funds vs. Fixed Deposits

Conclusion: 

To conclude, as mentioned above SBI Fixed deposit interest rate varies depending on various factors. We have mentioned the generic ones in this blog. We hope that you got the information you were looking for.