SBI FD Interest Rates

State Bank of India (SBI) offers fixed deposits across different tenures to help investors earn predictable returns on their savings. The interest rate applicable to an SBI FD depends on factors such as the deposit tenure, deposit amount, type of FD and age of the depositor. Senior citizens are generally eligible for an additional 0.50% interest over the applicable rate for regular customers, subject to the terms of the deposit scheme.

If you are considering an SBI fixed deposit, comparing the applicable interest rates across tenures can help you choose a deposit that matches your investment horizon and income requirements.

SBI FD rates at a glance: For retail domestic term deposits below ₹3 crore, SBI currently offers interest rates ranging from 3.05% to 6.40% p.a. for the general public and 3.55% to 6.90% p.a. for senior citizens under standard rates. Eligible senior citizens can earn up to 7.05% p.a. on 5-year to 10-year deposits under the SBI WeCare scheme.

For domestic bulk term deposits of ₹3 crore and above, SBI revised selected rates effective 15 August 2026.

SBI FD Interest Rates 2026 – Highlights

The standard retail rates above are effective from 15 December 2025. The SBI WeCare rate of 7.05% includes the additional premium applicable under that scheme. Rates and product terms may change, so investors should verify the applicable rate with SBI before opening an FD.

SBI FD Interest Rates

SBI's fixed deposit interest rates vary according to the deposit tenure and deposit category. For retail domestic term deposits below ₹3 crore, the bank offers separate rates for the general public and senior citizens.

SBI FD Interest Rates for Deposits Below ₹3 Crore

The following standard retail domestic term deposit rates are effective from 15 December 2025. SBI has not revised these retail rates in the August 2026 bulk-deposit revision.

*The 7.05% senior-citizen rate includes the additional 50 bps premium available under the SBI WeCare deposit scheme for eligible 5-year to 10-year deposits.

SBI FD Interest Rates for Deposits of ₹3 Crore and Above

SBI classifies deposits of ₹3 crore and above as domestic bulk term deposits. The bank revised selected bulk deposit rates effective 15 August 2026. Rates for tenures of 211 days and above remained unchanged in that revision, while rates for shorter tenures were reduced.

These bulk deposit rates are applicable to fresh deposits and renewals of maturing deposits, subject to SBI's applicable terms.

What Is the Highest SBI FD Interest Rate in 2026?

For standard retail domestic term deposits below ₹3 crore, the highest SBI FD rate for the general public is 6.40% p.a. for a tenure of 2 years to less than 3 years. For senior citizens, the standard rate for the same tenure is 6.90% p.a.

Eligible senior citizens can earn 7.05% p.a. on 5-year to 10-year deposits under the SBI WeCare scheme, which includes the additional WeCare premium.

SBI also offers special-tenure deposits from time to time. For example, the 444-day Amrit Vrishti deposit offers 6.45% p.a. for the general public and 6.95% p.a. for eligible senior citizens, based on the currently reported SBI rates.

Therefore, the highest advertised SBI FD rate should always be considered along with the applicable tenure, eligibility criteria, and scheme conditions.

SBI FD Interest Rates for Senior Citizens

SBI generally offers an additional 0.50% p.a. to eligible senior citizens over the applicable standard retail FD rate.

For example, if the standard rate for a particular tenure is 6.25% p.a., the applicable senior-citizen rate may be 6.75% p.a., subject to the scheme's terms.

For eligible deposits under SBI WeCare, senior citizens can receive an additional premium for 5-year to 10-year deposits. This can take the applicable rate to 7.05% p.a. when combined with the standard senior-citizen benefit.

Super senior citizens aged 80 years and above may also be eligible for an additional 10 bps under the SBI Patrons scheme on eligible deposits. The scheme has specific exclusions, so the applicable terms should be checked before investing.

SBI Special Fixed Deposit Schemes

Apart from regular term deposits, SBI offers several specialized deposit products. Their interest rates, tenure, and eligibility can differ from the standard FD rates.

SBI WeCare FD

SBI WeCare is a special deposit scheme for senior citizens. For eligible 5-year to 10-year deposits, the scheme provides an additional premium over the applicable senior-citizen rate. The resulting rate is currently 7.05% p.a. for the eligible 5-year to 10-year retail deposit category.

SBI Patrons

SBI Patrons is intended for super-senior citizens aged 80 years and above. SBI provides an additional 10 bps over the applicable senior-citizen rate for eligible deposits. The scheme does not apply to certain deposit products, including recurring deposits, Green Rupee Term Deposits, Tax Savings Scheme 2006, MODS, Capital Gains Scheme, and non-callable term deposits.

SBI Amrit Vrishti

Amrit Vrishti is a special 444-day deposit scheme. The rate was revised to 6.45% p.a. for the general public effective 15 December 2025. Eligible senior citizens receive their applicable additional benefit, taking the rate to 6.95% p.a.

SBI Green Rupee Term Deposit

SBI Green Rupee Term Deposits are available for specific tenures of 1,111, 1,777, and 2,222 days. The rate is offered at 10 basis points below the applicable card rate, subject to SBI's prevailing terms.

SBI Tax Saving FD

The SBI Tax Saving Scheme 2006 has a 5-year lock-in period. Eligible investments may qualify for a deduction under Section 80C, subject to the applicable income-tax rules and limits.

Unlike a regular FD, a tax-saving FD generally cannot be withdrawn before completion of the lock-in period except in circumstances permitted under the applicable rules.

How Is SBI FD Interest Calculated?

The interest earned on an SBI FD depends on the principal amount, applicable interest rate, tenure, and payout option.

With a cumulative FD, the interest is accumulated and paid with the principal at maturity. With a non-cumulative FD, interest is paid periodically according to the selected payout frequency.

For a quick estimate, investors can use an FD calculator by entering the deposit amount, interest rate, and tenure.

Example of SBI FD Interest Calculation

Suppose you invest ₹5 lakh in an SBI FD for 3 years at the applicable rate.

The final maturity amount will depend on the applicable rate, compounding method, and whether you choose a cumulative or non-cumulative deposit.

For a cumulative FD:

Maturity amount = Principal + Interest earned

The actual maturity value should be calculated using SBI's applicable deposit terms rather than by simply multiplying the principal by the annual interest rate.

SBI FD Monthly Interest Payout

Investors who need regular income can opt for a non-cumulative FD with periodic interest payouts, where available.

Under a monthly payout option, the interest is paid to the depositor periodically instead of being accumulated until maturity. The actual monthly payout may not be exactly equal to the annual interest rate divided by 12 because the applicable payout calculation and rate adjustment need to be considered.

Therefore, investors looking for regular income should compare the actual payout amount rather than relying only on the headline FD rate.

SBI FD: Cumulative vs Non-Cumulative

A cumulative FD may suit investors who do not need regular income and want the interest to accumulate until maturity. A non-cumulative FD may be more suitable when periodic cash flow is a priority.

SBI FD Premature Withdrawal

SBI allows premature closure of eligible retail term deposits, subject to the applicable terms and conditions. Premature closure can reduce the interest earned because the deposit may be paid at the applicable rate for the actual period it remained with the bank, after applying the relevant penalty.

SBI's published penalty structure specifies:

• 0.50% for retail term deposits up to ₹5 lakh

• 1% for retail term deposits above ₹5 lakh and below ₹2 crore

• 1% for bulk term deposits of ₹2 crore and above

For eligible retail deposits, the interest rate on premature closure is reduced by the applicable penalty from the rate applicable at the time of deposit for the period the deposit remained with the bank or from the contracted rate, whichever is lower.

No interest is paid on deposits withdrawn before completing seven days, according to SBI's published terms.

Before closing an FD early, investors should check the applicable penalty and calculate the revised maturity value.

Tax on SBI FD Interest

Interest earned from an SBI fixed deposit is generally taxable according to the applicable income-tax rules. The tax treatment depends on factors such as the investor's total taxable income, applicable tax regime and eligibility for specific deductions.

Is SBI FD Interest Taxable?

Yes. SBI FD interest is generally taxable as income in the hands of the depositor. The applicable tax depends on the investor's overall taxable income and applicable tax rules.

Does SBI Deduct TDS on FD Interest?

SBI may deduct TDS when the applicable conditions and thresholds are met.

For senior citizens, Section 194A currently provides a higher threshold for TDS on interest from bank deposits, and Section 80TTB allows eligible resident senior citizens to claim a deduction of up to ₹50,000 on interest from eligible deposits, subject to the applicable conditions.

Tax rules can change, so investors should check the latest Income Tax Department guidance for the relevant financial year.

SBI FD vs. Bonds: Which Should You Choose?

An SBI FD and a bond can both form part of a fixed-income portfolio, but they work differently.

The right option depends on factors such as investment horizon, liquidity requirements, expected return, taxation, and risk tolerance. Investors should compare the post-tax return and overall risk, rather than looking only at the headline interest rate.

How to Open an SBI FD

Eligible customers can generally open an SBI fixed deposit through the bank's available digital banking channels or by visiting an SBI branch, subject to the applicable eligibility and documentation requirements.

The process generally involves:

1. Select the FD type and tenure.

2. Enter the deposit amount.

3. Choose the interest payout option.

4. Provide or confirm the required details.

5. Fund the deposit.

6. Review the FD confirmation and maturity details.

The exact process may vary depending on the type of FD and the channel used.

Factors to Consider Before Investing in an SBI FD

The interest rate is important, but it should not be the only factor considered before opening an FD.

1. FD Tenure

Choose a tenure that matches when you expect to need the money. A longer tenure may provide a different rate but can reduce flexibility if you need the funds earlier.

2. Interest Payout

Choose between cumulative and non-cumulative options based on whether you want to accumulate your returns or receive periodic income.

3. Tax Impact

Compare the post-tax return rather than only the advertised FD interest rate.

4. Premature Withdrawal

Understand the applicable penalty and revised interest calculation before committing your money.

5. Deposit Amount

Check whether your deposit falls under the retail or bulk deposit category because SBI's rates can differ based on the deposit amount.

6. Investment Objective

An FD may suit investors seeking predictable returns, but it can also be useful to compare it with other fixed-income options based on your financial goals, liquidity requirements, and risk tolerance.

Conclusion

SBI fixed deposits can be considered by investors looking for predictable returns over a defined period. However, the interest rate is only one part of the decision. The FD tenure, interest payout option, taxation, premature withdrawal conditions, and deposit amount should also be considered.

For retail deposits below ₹3 crore, SBI's current standard FD rates range from 3.05% to 6.40% p.a. for the general public, while eligible senior citizens can receive rates of up to 7.05% p.a. under SBI WeCare. SBI's bulk deposit rates for ₹3 crore and above were most recently revised effective 15 August 2026.

Because banks can revise their FD interest rates and special schemes from time to time, investors should check SBI's latest rate card and applicable terms before booking a fixed deposit.