Fixed Deposits (FDs) offer a predetermined interest rate for a specified tenure, making them a commonly used bank-deposit option in India. State Bank of India (SBI) offers retail domestic term deposits across tenures ranging from 7 days to 10 years, with different rates for general customers and eligible senior citizens.
If you are considering opening an SBI Fixed Deposit account in 2026, it is useful to check the latest interest rates, available tenures and the key terms applicable to the deposit. This article covers SBI FD interest rates in October 2026 and the important factors to consider before opening an FD.
SBI FD Interest Rates 2026: Latest Rates at a Glance
As of October 2026, SBI’s current retail domestic FD rate card for deposits below ₹3 crore lists interest rates across tenures ranging from 7 days to 10 years. The current rate card carries rates effective from 15 December 2025. Rates vary based on the deposit tenure and customer category.
| FD Tenure | General Customers (p.a.) | Senior Citizens (p.a.) |
| 7 Days to 45 Days | 3.05% | 3.55% |
| 46 Days to 179 Days | 4.90% | 5.40% |
| 180 Days to 210 Days | 5.65% | 6.15% |
| 211 Days to Less Than 1 Year | 5.90% | 6.40% |
| 1 Year to Less Than 2 Years | 6.25% | 6.75% |
| 2 Years to Less Than 3 Years | 6.40% | 6.90% |
| 3 Years to Less Than 5 Years | 6.30% | 6.80% |
| 5 Years to 10 Years | 6.05% | 7.05%* |
| Amrit Vrishti (444 Days) | 6.45% | 6.95% |
*Includes the additional 50 bps available under SBI’s WeCare deposit scheme, subject to applicable terms and conditions. SBI also provides an additional 10 bps benefit to eligible super senior citizens under the SBI Patrons scheme.
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How SBI Fixed Deposits Work
A Fixed Deposit allows you to deposit a lump sum amount with the bank for a specified period at a predetermined interest rate.
When a Fixed Deposit is opened:
- The interest rate is generally fixed when the deposit is booked.
- The deposit has a specified maturity date based on the selected tenure.
- Interest can be paid periodically or at maturity, depending on the type of deposit selected.
- Premature withdrawal may be permitted subject to the terms and applicable penalties of the SBI deposit scheme.
For SBI retail domestic term deposits, the standard tenure range is from 7 days to 10 years, although specific deposit schemes can have different terms. SBI also provides different interest payout options for eligible term deposits.
Which SBI FD Tenure Offers the Highest Interest Rate in 2026?
The highest interest rate is not necessarily the only factor to consider when choosing an FD tenure.
For general customers, the highest standard SBI FD rate is 6.40% p.a. for deposits with a tenure of 2 years to less than 3 years. However, SBI’s special 444-day Amrit Vrishti FD offers a slightly higher 6.45% p.a. Senior citizens can earn up to 7.05% p.a. on 5-year to 10-year deposits under the applicable SBI WeCare benefit, while the 444-day Amrit Vrishti FD offers 6.95% p.a. to senior citizens. Eligible super senior citizens can receive an additional 10 bps under the SBI Patrons scheme, subject to its terms.
Rather than looking only at the highest interest rate, investors can consider:
- Financial objectives
- Liquidity needs
- Tenure of investment
- Taxation
- Overall asset allocation
Recent Fixed Deposit Updates:
- SBI FD Interest Rates in Oct 2026: Latest Rates, Features, and Things Investors Should Know
- HDFC Bank Fixed Deposits (FDs) and Interest Rates for October 2026
- ₹2 Crore FD Interest Per Month in 2026: FD vs Bonds vs Debt Funds
Factors That Influence SBI FD Interest Rates
FD interest rates can be revised from time to time based on various factors.
RBI Monetary Policy
Changes in the RBI’s monetary-policy stance can influence market interest rates and banks’ funding conditions. Banks may revise their deposit rates based on these and other factors, including their funding requirements and market conditions.
Read the latest Monetary Policy in Detail.
Financial Market Liquidity Situation
Banks may also adjust deposit rates based on their funding requirements, liquidity conditions and broader market conditions.
Deposit Tenure
Longer tenures do not necessarily result in higher interest rates. Banks may offer higher rates at specific tenures depending on their deposit and funding requirements.
This is why investors should review the complete FD rate chart rather than assuming that a longer tenure will always offer a higher interest rate.
Key Features of SBI Fixed Deposits
Before opening an FD, it is useful to understand some of the core features offered by SBI.
| Feature | Details |
| Minimum Tenure | 7 Days |
| Maximum Tenure | 10 Years |
| Interest Rate | Varies by tenure and customer category |
| Premature Withdrawal | Allowed subject to applicable rules and penalties |
| Senior Citizen Benefit | Additional interest available on eligible domestic deposits, subject to SBI’s terms |
| Tax-Saving FD | Available with a five-year minimum lock-in period, subject to applicable regulations |
| Deposit Insurance | Eligible deposits are insured by DICGC up to ₹5 lakh per depositor per bank, including principal and interest, subject to applicable rules |
SBI’s standard term deposit has a minimum deposit period of 7 days and a maximum period of 10 years. Interest can be paid at maturity or at periodic intervals, depending on the deposit type and payout option selected.
The SBI Tax Savings Scheme has a minimum deposit period of five years. For Tax Year 2026-27, eligible tax-saving deposits can qualify for a deduction of up to ₹1.5 lakh under Section 123 read with Schedule XV of the Income Tax Act, 2025, subject to the applicable conditions. The deduction is not available under the new concessional tax regime.
DICGC deposit insurance covers eligible deposits up to ₹5 lakh per depositor per bank, including principal and accrued interest, subject to the applicable rules on aggregation of deposits.
Features and terms may vary depending on the specific FD scheme selected. Investors should review the latest product terms before opening an FD.
Things Investors Should Consider Before Opening an SBI FD
Despite being a commonly used bank-deposit option, investors should assess whether the FD tenure and features suit their requirements.
These include:
- Duration of the investment
- Need for liquidity
- Interest rate applicable to the selected tenure
- Tax on interest income
- Investment objectives and overall asset allocation
Investors should also consider that interest earned on FDs is generally taxable under the applicable income-tax provisions. The actual tax treatment depends on the depositor’s circumstances and applicable tax regime.
SBI FD Interest Rates Frequently Asked Questions (FAQs)
As of October 2026, SBI’s FD rates for general customers range from 3.05% to 6.40% p.a. across standard retail tenures below ₹3 crore. SBI’s special 444-day Amrit Vrishti FD offers 6.45% p.a. Senior citizens receive additional interest on eligible deposits, with the rate reaching 7.05% p.a. for 5-year to 10-year deposits under the applicable SBI WeCare benefit.
According to SBI’s current published rate card, the special SBI Amrit Vrishti 444-day FD offers 6.45% p.a. to general customers. Among standard retail FD tenures, the highest rate for general customers is 6.40% p.a. for 2 years to less than 3 years. Rates can be revised by SBI from time to time.
The interest rate applicable to an FD is generally fixed when the deposit is booked. A later change in SBI’s FD rates does not normally alter the contracted rate for an existing deposit, subject to the terms of the particular scheme.
Yes. SBI provides additional interest benefits for eligible senior citizen depositors under applicable fixed deposit schemes. Certain schemes may also provide additional benefits to eligible super senior citizens.
Yes. Interest earned on an SBI FD is generally taxable under the applicable income-tax provisions. The tax treatment depends on the depositor’s circumstances and applicable tax regime.
Final Thoughts
SBI Fixed Deposits offer a predetermined interest rate for a specified tenure, with multiple deposit periods and interest payout options. Eligible senior citizens can also receive additional interest benefits under applicable SBI schemes.
However, before opening an FD, investors should evaluate factors such as tenure, liquidity needs, taxation and overall financial goals. It is also important to verify the latest interest rates and product terms directly with SBI, as deposit rates and scheme conditions may be revised from time to time.
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