SBI FD Interest Rates 2022 | SBI Fixed Deposit interest rates 2022
Last updated on September 5th, 2022 at 01:10 pm
Find out the State Bank of India bank Fixed Deposit (FD) interest rates 2022, as well as the interest rates on fixed deposits offered to Senior Citizens.
State Bank Of India offers several deposit schemes for its customers and SBI Fixed deposit schemes offer a very competitive interest rate. So SBI FD is considered one of the safest investment schemes available in the market.
In addition to offering competitive interest rates on fixed deposits for terms ranging from seven days to ten years, the State Bank of India also offers a variety of enticing features and perks. Senior citizens are eligible for an additional interest rate of up to 0.8 percent on their deposits.
SBI revised Fixed Deposit interest rates on 1st March 2022. Find below latest SBI FD interest rates.
SBI Fixed Deposit interest rates 2022
Table of Contents
SBI FD Interest Rates (p.a.) w.e.f. 15.02.2022 (Below Rs. 2 Crore)
|Tenure||Regular Citizens FD rates||Senior Citizens FD rates|
|7 days to 45 days||2.90||3.40|
|46 days to 179 days||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 year||5.10||5.60|
|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|
Above SBI Fixed deposit rate revised on 1st March 2022 and may change any time without prior notice.
SBI offers a special interest rate for its staff and pensioners. They will get additional 1% interest rates on their FD.
SBI FD interest Rates for sr Citizens
Customers of the State Bank of India who are 60 years old or older are eligible to participate in the Senior Citizen Saving Scheme, which is a form of fixed deposit.
The customer has the option of making a fixed deposit of at least Rs. 1,000 for a period of up to 5 years through this Senior Citizen Fixed Deposit Scheme.
The Key Features of the SBI Senior Citizen Fixed Deposit Scheme
- The following is a list of some of the benefits that come with the SBI Senior Citizen Fixed Deposit Scheme:
- Minimum deposit of one thousand rupees, either individually or jointly
- Tenure: At a minimum, five years, Maximum: 8 years
- Availability of the nomination facility
- Availability of an Automatic Renewal System
- Early account termination is permitted, but there is a fee associated with it.
- Several instances of withdrawal Not available
SBI Fixed Deposit interest rates - Term wise
- For regular Citizens – SBI FD interest rates ranges from 2.90% to 4.40% p.a for deposits with a tenure of 7 days to less than 365 days.
- For Senior Citizens – It ranges from 3.40% to 4.90% p.a. (with a tenure of 7 days to less than 365 days.)
- For 1 year to less than 5 years – SBI regular citizens will get an interest rate of 5.10% to 5.30% p.a Whereas Senior Citizens will get 5.60% to 5.80% p.a
- 5 years and up to 10 years tenure, regular citizens will get 5.40% p.a Whereas Senior Citizens will get 6.20% p.a
SBI Non Resident External (NRE) FD Interest Rate
By using SBI’s NRE Fixed Deposit account, NRIs can deposit their savings and earn a good interest p.a without any risk.
Non Resident External (NRE) FD interest rates 2020
SBI FD Interest Rates (p.a.)
|Tenure||Below Rs.2 Crore||Rs.2 Crore & above|
|1 to (less than) 2 years||5.10%||2.90%|
|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 upto 10 years||5.40%||3.00%|
If you withdraw your deposit before 1 year, you will not get any interests.
Also note that these interest rates may change at any time without prior notice.
Fixed Deposits from SBI - Advantages.
- SBI fixed deposits include a number of customer-friendly features, including the following:
- SBI FD Interest payments are made on a calendar quarterly, and monthly basis, as appropriate.
- There is a nomination facility provided. The Account Holder can suggest a Nominee for their deposits
- Tenure ranging from seven days to ten years is possible.
- The minimum deposit is Rs.1,000 only, and there is no upper limit on the maximum amount.
- It is possible to take out an overdraft of up to 90% of the principal amount against the fixed deposit.
- You can convert your term deposit with regular interest payout to a term deposit with cumulative interest payout and vice versa.
- Loans in the amount of up to 90 percent of the principal amount can be obtained against a fixed deposit.
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