Explore the latest SBI Fixed Deposit interest rates for 2026, including special schemes and tax implications. Learn how to optimize your investments.
SBI FD Interest Rates Overview
Special SBI FD Schemes
Tax Implications on SBI FD
Investment Process for SBI FD
FAQs on SBI FD Interest Rates
Understand the various interest rates offered by SBI for Fixed Deposits in 2026.
Interest Rates for Residents
SBI offers competitive interest rates for resident Indians.
Tenure ranges from 7 days to 10 years.
Interest rates vary from 3.05% to 6.45% for the general public.
Senior citizens enjoy rates from 3.55% to 6.95%.
NRE FD Interest Rates for NRIs
NRIs can benefit from attractive NRE FD rates.
1 year to less than 2 years: 6.25% p.a.
444 Days (Amrit Vrishti): 6.45% p.a.
5 years to 10 years: 6.05% p.a.
NRO FD Interest Rates for NRIs
NRO FDs offer flexible tenure and rates.
7 days to 14 days: 3.05% p.a.
1 year to less than 2 years: 6.25% p.a.
5 years to 10 years: 6.05% p.a.
Domestic Bulk Term Deposits
For deposits above ₹3 crore, SBI offers special rates.
7 days to 14 days: 4.50% for public, 5.00% for seniors.
1 year to less than 2 years: 6.25% for public, 6.75% for seniors.
5 years to 10 years: 6.00% for public, 6.50% for seniors.
Explore unique SBI FD schemes designed for higher returns.
Amrit Vrishti Scheme
A special scheme offering enhanced interest rates.
Tenure: 444 days.
Interest Rate: 6.45% for general, 6.95% for seniors.
Minimum Deposit: ₹1,000.
SBI Tax Saving FD Scheme
Avail tax benefits under Section 80C with this scheme.
Minimum Deposit: ₹1,000.
Maximum Deposit: ₹1.5 lakh.
Lock-in Period: 5 years.
Understand the tax treatment of interest earned on SBI FDs.
Tax Deducted at Source (TDS)
Interest income from FDs is subject to TDS.
TDS is applicable if interest exceeds ₹40,000 (₹50,000 for seniors).
TDS rate is 10% if PAN is provided, 20% otherwise.
Form 15G/15H can be submitted to avoid TDS if income is below taxable limit.
Tax Benefits under Section 80C
Invest in tax-saving FDs to reduce taxable income.
Maximum deduction of ₹1.5 lakh under Section 80C.
Applicable only for 5-year tax-saving FDs.
Interest earned is taxable.
Worked Example
Calculate tax savings with a tax-saving FD.
Investment: ₹1.5 lakh in tax-saving FD.
Tax deduction: ₹1.5 lakh under Section 80C.
Tax saved: ₹31,200 for individuals in the 20% tax bracket.
Learn how to invest in SBI Fixed Deposits through various channels.
Internet Banking
Invest in FDs conveniently online.
Log in to SBI Internet Banking.
Select 'Fixed Deposit' under the 'Deposit' tab.
Choose the tenure and amount, then confirm.
Mobile Banking
Use the SBI YONO app for FD investments.
Open the YONO app and log in.
Navigate to 'Deposits' and select 'Fixed Deposit'.
Follow the prompts to complete the investment.
Visiting the Bank Branch
Invest in FDs by visiting your nearest SBI branch.
Fill out the FD application form.
Submit required documents like PAN and ID proof.
Deposit the amount and receive the FD receipt.
What is the minimum deposit for an SBI FD?
The minimum deposit for an SBI FD is ₹1,000. This applies to both regular and special schemes like Amrit Vrishti.
Can NRIs invest in SBI FDs?
Yes, NRIs can invest in SBI FDs through NRE and NRO accounts. The interest rates vary based on the tenure and type of account.
How is TDS calculated on SBI FD interest?
TDS is deducted at 10% if the interest exceeds ₹40,000 (₹50,000 for seniors) and PAN is provided. Without PAN, TDS is 20%.
What are the benefits of the SBI Tax Saving FD Scheme?
The SBI Tax Saving FD Scheme offers tax benefits under Section 80C, allowing a deduction of up to ₹1.5 lakh. The lock-in period is 5 years.
Is premature withdrawal allowed for SBI FDs?
Yes, premature withdrawal is allowed but may incur a penalty. The penalty varies based on the tenure and amount.
How can I avoid TDS on my SBI FD interest?
Submit Form 15G (or Form 15H for seniors) if your total income is below the taxable limit to avoid TDS on FD interest.
What is the interest rate for the Amrit Vrishti scheme?
The Amrit Vrishti scheme offers an interest rate of 6.45% for the general public and 6.95% for senior citizens for a tenure of 444 days.
How does the SBI FD interest rate compare to other banks?
SBI FD rates are competitive, with rates up to 6.95% for seniors. It's advisable to compare with other banks for the best rates.
What documents are required to open an SBI FD?
To open an SBI FD, you'll need a PAN card, proof of identity (like Aadhaar), and proof of address. NRIs require additional documents like a passport.
Can I take a loan against my SBI FD?
Yes, SBI offers loans up to 90% of the FD value. The interest rate is typically 1-2% above the FD rate.