SBI Interest Rates on FD, Dec 2016

Fixed Deposit Interest Rate of SBI

Last Updated 10th Dec 2016
Tenure General Rates Senior Citizen Rates
7 days to 45 days 5.50% 6.00%
46 days to 179 days 6.50% 7.00%
180 days to 210 days 6.75% 7.25%
211 days to 364 days 7.00% 7.50%
1 year to 455 days 6.90% 7.40%
456 days to 1 year 364 days 6.95% 7.45%
2 years to 2 years 364 days 6.85% 7.35%
3 years to 4 years 364 days 6.50% 7.00%
5 years to 10 years 6.50% 7.00%
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  • SBI offers FD interest rates upto 7.00% per annum.
  • Interest on deposits with SBI is typically compounded quarterly.
  • SBI accepts deposits starting at Rs. 1000 for various tenures.
  • For senior citizens (age more than 60 years), SBI offers higher interest rate over and above rates mentioned below.
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FD Maturity Amount

SBI Fixed Deposit – Premature Withdrawl

  • You may break you FD and withdraw your money subject to minimum moratorium requirements.
  • However, in case of premature withdrawal, SBI pays 1% lower ROI than that applicable for actual duration of deposit on deposits upto Rs. 15 lakhs and pays applicable ROI for actual duration of deposit on deposits greater than Rs. 15 lakhs .

Loan against SBI FD

  • SBI offers loan upto 90% against its own deposit. Note that you cannot obtain a loan against FD from another bank.
  • Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.

SBI Interest Rates in your city. How and where to apply?

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • In case you already hold an account with SBI, you don’t need to submit KYC documents again.
  • To know more or apply, contact any of the branches of SBI in your city - Find SBI Branches here

About SBI

State Bank of India (SBI) is India's largest lender and has its headquarters in Mumbai, Maharashtra, and majority owned by the Government of India. In 1955 RBI took over Imperial Bank with a majority stake and renamed it to SBI. SBI has assets worth Rs 2,395,982 crore showing a growth of 12.36% over last year. SBI has more than 17,000 branches in India including 190 in other countries. SBI commands a market share of more than 20% of total banking sector deposits and loans in India. SBI also has five associate banks namely State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Patiala, State Bank of Mysore and State Bank of Travancore which again have a fairly large asset base. Further, SBI also has various financial sector subsidiaries involved in capital markets, funds management, life and non-life insurance. SBI has continuously evolved its internal capabilities in response to changing customer preferences and technological trends and continues to be the most formidable competitor for every bank in the country. SBI has won many awards over its long history and was awarded ‘Best Customer Management Initiative’ award by IBA Banking Awards in 2014. It has been ranked 303 in Forbes 500 companies in 2014 and is the only Indian bank on the list.

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News - Dec 2016
30th Nov 16 Bhartiya Mahila Bank merger with SBI approved by CCI
Competition Commission of India has approved an amalgamation of Bhartiya Mahila Bank in to State Bank of India. Both the banks will work towards providing banking products to their retail and corporate customers.
30th Nov 16 SBI opens 11.8 lacs new bank accounts post demonetisation
State Bank of India has opened 11.8 lacs new saving accounts post demonetisation. The total estimated number of new bank accounts opened since 8th November is 30 lacs.
26th Nov 16 SBI launches SBI Pay, UPI application of its own
State Bank of India has launched its own UPI (Unified Payment Interface) based application SBI Pay. The application can be used by both SBI and non SBI account holders. HDFC, ICICI and Axis Banks and 15 other banks have already launched their UPI based application. The total number of banks having their own UPI based application inclusive of SBI is now 18.
26th Nov 16 SBI ties up with INOX Leisure for dispensing cash
State Bank of India has announced partnership with INOX Leisure, a multiplex chain, to dispense cash. Customers can now easily withdraw Rs. 2,000 per day from INOX Leisure cinema box office by swiping their debit cards. The facility will be available across 17 properties of INOX Leisure starting from 26th November, 2016.
24th Nov 16 SBI fixed deposit rates cut by 1.9 percent
State Bank of India has further reduced its bulk fixed deposits rates (Rs.1 to Rs.10 crores) by 1.9 percent to 3.85 percent for tenure of 180 to 210 days. The revised fixed deposits rate for one year to 455 days is now 4.25 percent instead of 6 percent earlier. FD rate for three to five years is also reduced to 4.25 percent from 5.50 percent. The revised rates are effective from 24th November, 2016.
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