Latest State Bank of India FD Interest Rate in 2024: Fixed deposits are considered one of the safest forms of investment. Fixed Deposits are also referred to as Term Deposits. A Fixed Deposit account provides a fixed interest income on deposits of different tenors, generally ranging from 7 days to 10 years.
The largest Indian bank, State Bank of India (SBI) offers Fixed Deposit (FD) rates ranging from 3.00% to 6.50% for general citizens and from 4.00% to 7.50% for senior citizens.
With the help of SBI Fixed Deposit, customers can park their lump sum and avail the benefits of features like guaranteed returns, choice of interest pay-out, liquidity through OD or premature withdrawal. (Check FD Calculator). Read on for the latest SBI Fixed Deposit Interest Rate.
SBI Fixed Deposit Interest Rate (Below Rs 2 crore, w.e.f. 27.12.2023)
| Tenure | General Public | Senior Citizen |
| 7 days to 45 days | 3.50% | 4% |
| 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% | 6.50% |
| 1 year to less than 2 years | 6.80% | 7.30% |
| 2 years to less than 3 years | 7% | 7.50% |
| 3 years to less than 5 years | 6.75% | 7.25% |
| 5 years and up to 10 years | 6.50% | 7.50% |
| 400 days (Amrit Kalash Scheme) | 7.10% | 7.60% |
The bank provides additional premium of 50 bps to senior citizens under “SBI We-care” deposit scheme. The above chart shows senior citizens’ interest rates including this 50 bps premium.
Also Read: Fixed Deposit Calculator: How to use it?
SBI Term Deposit (Rs 2 crore and above, w.e.f. 27.12.2023)
| Tenure | General Public | Senior Citizen |
| 7 days to 45 days | 5% | 5.50% |
| 46 days to 179 days | 5.75% | 6.25% |
| 180 days to 210 days | 6.50% | 7% |
| 211 days to less than 1 year | 6.75% | 7.25% |
| 1 year to less than 2 years | 6.80% | 7.30% |
| 2 years to less than 3 years | 6.75% | 7.25% |
| 3 years to less than 5 years | 6.25% | 6.75% |
| 5 years and up to 10 years | 6% | 6.50% |
SBI Amrit Kalash FD Interest Rate
Apart from the above, SBI is also offering a specific tenor scheme of 400 days (Amrit Kalash) at 7.10% interest w.e.f. 12th April, 2023. Senior Citizens get 7.60% interest under the Amrit Kalash scheme. The Scheme will be valid till 31-March-2024.
SBI Sarvottam Deposit Interest Rate
SBI also offers Sarvottam (Non-Callable) Domestic Retail Term Deposits (above Rs 1 crore to less than Rs 2 crores. Pre-mature payment is not allowed in this scheme. The interest rates under this scheme are as following:
- 30 bps over card rate for tenor 1 year
- 40 bps over card rate for tenor 2 years
SBI Green Deposit Interest Rate
The public sector bank is also offering ‘SBI GREEN RUPEE TERM DEPOSIT’ is available for three specific tenors of 1111, 1777 and 2222 days. These Green retail deposits in SBI earn 10 bps below Card Rate, according to the bank’s website.
Investing in a Fixed Deposit scheme is of the of safest way to protect your capital. However, FDs do not help much in multiplying wealth faster. But any investment for wealth generation should be after a proper planning and asset allocation.
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Disclaimer: The above content is for informational purposes only. Please consult your financial advisor before investing in any scheme.
