When it comes to safe and reliable investment options in India, State Bank of India (SBI) Fixed Deposit (FD) schemes consistently top the list. Trusted by millions, SBI offers a variety of FD plans tailored to meet different financial goals — whether you’re saving for a short-term need or planning long-term wealth creation.
In this article, we will explore the key SBI Fixed Deposit schemes, their features, interest rates, benefits, and tips to choose the best option for your investment.
What is a Fixed Deposit?
To begin with, a Fixed Deposit is a financial instrument provided by banks that offers a fixed interest rate over a predetermined tenure. Unlike savings accounts, FDs lock your money for a specific period, delivering higher returns with minimal risk.
Why Choose SBI Fixed Deposit Schemes?
First and foremost, SBI Fixed Deposits provide safety and security as the bank is backed by the Government of India, ensuring your principal amount is safe. Moreover, SBI offers attractive interest rates, with special benefits for senior citizens. Additionally, the flexible tenures allow you to choose deposit periods ranging from 7 days to 10 years. Besides this, you can avail loans easily against your FD, borrow up to 90% of your FD amount at attractive rates, and protect your investment by nominating a beneficiary. Finally, SBI’s online platforms allow seamless online FD opening and management.
SBI Fixed Deposit Schemes Overview with Details
Let’s now dive deeper into each of the popular SBI Fixed Deposit schemes.
1. Regular Fixed Deposit
The Regular FD is SBI’s most widely used deposit scheme, designed for investors looking for flexible tenures and stable returns.
- Tenure: From as short as 7 days up to 10 years, making it ideal for both short-term and long-term goals.
- Minimum Deposit: ₹1,000.
- Interest Rates: Vary by tenure, ranging from 3.50% p.a. for very short periods to around 7% for longer tenures.
- Interest Payout Options: Monthly, quarterly, half-yearly, or cumulative (paid at maturity).
- Premature Withdrawal: Allowed after a minimum lock-in period (typically 7 days), but with applicable penalties that reduce the interest earned.
- Loan Against FD: Available up to 90% of the deposit amount at competitive rates, providing liquidity without breaking the FD.
- Eligibility: Available to all residents, NRIs (Non-Resident Indians), HUFs (Hindu Undivided Families), trusts, and companies.
- Nomination: Available, allowing you to appoint a beneficiary in case of an unfortunate event.
- Ideal For: Anyone looking for a safe investment with flexible tenure and withdrawal options.
Thus, this scheme is perfect for most retail investors who want safety coupled with flexibility.
2. Amrit Vrishti Fixed Deposit (444-Day FD)
Launched to offer a high-interest, medium-term investment option, the Amrit Vrishti FD has gained popularity for its attractive rates.
- Tenure: Fixed at 444 days (approximately 1 year and 3 months).
- Minimum Deposit: ₹1,000.
- Interest Rate: 7.25% p.a. for general public, and 7.75% p.a. for senior citizens (higher than regular FDs).
- Interest Payment: Paid at maturity (cumulative).
- Premature Withdrawal: Allowed, but may attract a penalty and lower interest rate.
- Special Features: The fixed tenure and high rates make it suitable for investors looking for a fixed medium-term investment without frequent reinvestment hassles.
- Ideal For: Medium-term investors who want a better yield than regular FDs without locking funds for very long.
Consequently, it has become a favorite among investors aiming for a fixed return within a relatively short period.
3. SBI Sarvottam (Non-Callable) Term Deposit
The Sarvottam deposit is SBI’s premium fixed deposit scheme, designed primarily for high-net-worth individuals (HNIs).
- Tenure: 1 year to 2 years.
- Minimum Deposit: ₹15 lakh and above.
- Interest Rates: Up to 7.90% p.a., generally higher than regular FD rates.
- Premature Withdrawal: Not allowed, which means you cannot break the deposit before maturity.
- Interest Payment: Monthly or cumulative.
- Loan Facility: Loans can be availed against the deposit value.
- Security & Benefits: Given the large deposit size, this scheme offers a higher rate as an incentive for longer lock-in.
- Ideal For: Investors with substantial funds looking for high fixed returns and who do not require liquidity during the deposit term.
Therefore, it suits investors who prioritize maximum returns and are comfortable with locking funds for the chosen tenure.
4. SBI Annuity Deposit Scheme
This scheme is designed to offer regular fixed monthly income, especially suitable for retirees.
- Tenure Options: 36 months (3 years), 60 months (5 years), 84 months (7 years), or 120 months (10 years).
- Minimum Deposit: Based on the annuity amount required (investors decide monthly income).
- Interest Rates: Comparable to regular term deposit rates.
- Interest Payment: Fixed monthly payments (annuity).
- Loan Against Deposit: Available.
- Premature Withdrawal: Allowed with penalties.
- Ideal For: Retired individuals or senior citizens who want a guaranteed monthly income stream from their savings.
As a result, this product is excellent for anyone seeking steady monthly cash flow.
5. Multi Option Deposit Scheme (MODS)
MODS is a unique hybrid scheme linking your FD to your savings or current account for enhanced liquidity.
- Tenure: 1 year to 5 years.
- Minimum Deposit: ₹10,000.
- Interest Rates: Same as regular fixed deposit rates.
- Key Feature: You can withdraw funds in multiples of ₹1,000 from your savings/current account without breaking the entire FD.
- Interest Payment: Paid quarterly or at maturity.
- Premature Withdrawal: Partial withdrawals without breaking the whole FD make this scheme highly flexible.
- Loan Facility: Loans up to 90% of FD value.
- Ideal For: Investors who want the benefits of an FD but may need partial liquidity occasionally.
Hence, MODS is highly suitable for those who seek both higher interest and liquidity.
6. SBI Tax Savings Scheme (Tax Saving FD)
This scheme provides both fixed returns and tax benefits under Section 80C of the Income Tax Act.
- Tenure: Fixed 5 years with a mandatory lock-in (no premature withdrawal allowed).
- Minimum Deposit: ₹1,000.
- Maximum Deposit: ₹1.5 lakh per financial year.
- Interest Rate: Similar to regular FDs, usually in the 6.5% to 7.5% range.
- Tax Benefit: Investment qualifies for deduction under Section 80C, reducing taxable income.
- Nomination: Available.
- Loan Against Deposit: Not allowed during lock-in.
- Ideal For: Salaried employees and taxpayers seeking fixed returns plus tax savings.
Therefore, if you want to save tax and grow your money safely, this scheme is highly recommended.
7. SBI Green Rupee Term Deposit (SGRTD)
SGRTD is SBI’s sustainable investment scheme, promoting eco-friendly projects.
- Tenure Options: 1111 days (~3 years), 1777 days (~5 years), and 2222 days (~6 years).
- Minimum Deposit: ₹10,000.
- Interest Rates: Slightly lower than regular FDs (by around 10 basis points).
- Interest Payment: Paid quarterly or at maturity.
- Environmental Impact: Funds collected are used to finance green projects, such as renewable energy and environmental protection.
- Premature Withdrawal: Allowed with applicable penalties.
- Ideal For: Investors wanting to support environmental sustainability while earning fixed returns.
Thus, it appeals to investors who are socially responsible while expecting safe returns.
8. SBI Floating Rate Bulk Term Deposit (FRBTD)
A specialized product targeting corporate clients and HNIs, offering interest rates linked to the repo rate.
- Tenure: 91 days to 3 years.
- Minimum Deposit: ₹2 crore and above.
- Interest Rate: Floating, linked to RBI’s repo rate and changes periodically.
- Premature Withdrawal: Allowed but with a 1% penalty.
- Interest Payment: Quarterly or at maturity.
- Ideal For: Large investors wanting exposure to floating interest rates and a flexible tenure.
Therefore, this product is not suitable for retail investors but is excellent for institutional investors who want to hedge interest rate risks.
SBI Fixed Deposit Interest Rates (May 2025)
| Tenure | General Public | Senior Citizens |
|---|---|---|
| 7 days to 45 days | 3.50% | 4.00% |
| 46 days to 179 days | 5.50% | 6.00% |
| 180 days to 1 year | 6.25% | 6.75% |
| 1 year to less than 2 years | 6.80% | 7.30% |
| 2 years to less than 3 years | 7.00% | 7.50% |
| 3 years to less than 5 years | 6.75% | 7.25% |
| 5 years to 10 years | 6.50% | 7.50% |
| 444 days (Amrit Vrishti) | 7.25% | 7.75% |
How to Open an SBI Fixed Deposit?
You can open an SBI FD easily either:
- Online: Via SBI’s official net banking or YONO app, with instant approvals and zero paperwork.
- Offline: By visiting the nearest SBI branch with necessary KYC documents.
Steps include:
- Choose FD scheme and tenure.
- Enter deposit amount.
- Submit KYC details.
- Make payment via cheque or online transfer.
- Receive FD receipt (physical or digital).
Tips to Maximize Returns on SBI Fixed Deposits
- Choose the right tenure: Longer tenure generally means higher rates.
- Consider cumulative option: To reinvest interest and earn compound returns.
- Use senior citizen benefits: Senior citizens get higher interest rates.
- Avoid premature withdrawal: To prevent loss of interest.
- Check for special schemes: Like Amrit Vrishti or Sarvottam for better rates.
- Plan tax-saving FDs: To reduce tax liability while saving.
Conclusion
In conclusion, SBI Fixed Deposit schemes offer a range of options suitable for different investor profiles — from short-term savers to high-net-worth individuals and retirees. By carefully selecting the scheme based on your goals, tenure, and liquidity needs, you can maximize your returns while keeping your capital safe.
Moreover, SBI’s credibility and wide reach ensure convenience and reliability for your investments. Therefore, investing in SBI Fixed Deposits remains one of the smartest choices for conservative investors seeking assured returns with minimum risk.