SBI FD Rates (2026) — All Tenures Compared
India's largest public sector bank. Most popular for FDs due to trust and DICGC insurance up to ₹5 lakh. Below is the latest FD rate card from SBI for general citizens and senior citizens, across the most common tenures.
SBI FD Rate Card
| Tenure | General Public | Senior Citizen | Min Amount |
|---|---|---|---|
| 7 days to 14 days | 3.50% | 4.00% | ₹1,000 |
| 15 days to 45 days | 4.50% | 5.00% | ₹1,000 |
| 46 days to 90 days | 5.50% | 6.00% | ₹1,000 |
| 91 days to 6 months | 6.00% | 6.50% | ₹1,000 |
| 6 months to 1 year | 6.50% | 7.00% | ₹1,000 |
| 1 year to 2 years | 6.50% | 7.00% | ₹1,000 |
| 2 years to 3 years | 6.50% | 7.00% | ₹1,000 |
| 3 years to 5 years | 6.50% | 7.00% | ₹1,000 |
| 5 years (Tax Saver) | 6.50% | 7.00% | ₹1,000 (max ₹1.5L) |
Rates above are illustrative for SBI as of August 2026. Confirm on the bank's site — rates change every quarter.
How to Open an FD with SBI
- Online: Log into SBI net banking or app. Open FD → select tenure and amount → confirm. FD receipt is instant.
- Branch: Visit any branch with PAN card + Aadhaar + a cheque for the deposit amount. FD receipt issued same day.
- Via YONO / iMobile / Axis Mobile: All major banks now let you open FDs directly from their mobile app in under 5 minutes.
Senior Citizen Bonus
SBI offers an extra 0.50% per annum on FDs opened by senior citizens (60+ years). For an ₹5 lakh FD over 5 years at 6.5%, that's ~₹13,000 extra interest over the tenure vs a non-senior-citizen FD.
Senior citizens also get a higher TDS threshold (₹50,000/year of interest vs ₹40,000 for others). Submit Form 15G/H (whichever applies) to avoid TDS.
Premature Withdrawal Rules
SBI FDs allow premature withdrawal but with a penalty of 1% on the contracted rate. Example: if you open a 1-year FD at 6.5% and withdraw after 9 months, you'll earn 5.5% (6.5% – 1%) for the actual period, not 6.5%.
Tax-saver FDs (5-year lock-in) cannot be withdrawn prematurely except in case of death of the depositor. Plan accordingly.
Is SBI Safe for FDs?
For deposits up to ₹5 lakh per depositor, SBI is covered by DICGC (Deposit Insurance and Credit Guarantee Corporation). Above ₹5 lakh, split across multiple banks. Public Sector Bank — credit quality, capital adequacy, and RBI supervision make this a low-risk FD for most Indian savers.
When SBI FD Is Not the Best Choice
- You want the highest possible rate — consider small finance banks (Ujjivan 8%, Shriram Finance 8.5%) instead.
- You want monthly income — most banks allow monthly interest payout (non-cumulative FD) at slightly lower rate. Compare cumulative vs non-cumulative before booking.
- You have over ₹5 lakh — split across 2–3 banks for full DICGC insurance.
FAQ
What is the highest FD rate at SBI?
For general public, SBI's highest is currently 6.5% for 1–5 year tenures. Senior citizens get up to 7%.
Can I open an SBI FD without an account?
Yes — most banks let you open an FD with just PAN + Aadhaar, even without an active savings account with them.
Is SBI FD interest taxable?
Yes — fully taxable as "Income from Other Sources". Banks deduct TDS at 10% if interest exceeds ₹40,000/year (₹50,000 for seniors).
How is the interest paid?
Two options: cumulative (compound interest paid at maturity) or non-cumulative (interest paid monthly/quarterly). Most users prefer cumulative for max returns.
Indicative rates for SBI as of August 2026. Bank may revise quarterly. Not financial advice.