State Bank of India (SBI) is known for offering competitive interest rates on fixed deposits (FDs). FDs are a popular investment option for individuals looking to earn a steady return on their savings. In this section, we will explore the SBI FD interest rates for the year 2024.
Revision in Interest Rates on Retail Domestic Term Deposits (Below Rs. 3 crore)
The revised interest rates are as under : (Rates in % p.a effective from 15/06/2024)
| Tenors | Public | Senior Citizen |
|---|---|---|
| 7 days to 45 days | 3.50 | 4.00 |
| 46 days to 179 days | 5.50 | 6.00 |
| 180 days to 210 days | 6.25 | 6.75 |
| 211 days to less than 1 year | 6.50 | 7.00 |
| 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 and up to 10 years | 6.50 | 7.50* |
- *Including additional premium of 50 bps under ”SBI We-care” deposit scheme.
- The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 31st March 2025.
- The specific tenor scheme of “444 days” (Amrit Vrishti) at Rate of Interest 7.25 % is effective from 15th July 2024 and Senior Citizens are offered a Rate of interest 7.75%. The Scheme will be valid till 31st March 2025.
- SBI GREEN RUPEE TERM DEPOSIT is available for three specific tenors of 1111, 1777 & 2222 days, at 10 bps below Card Rate for Retail deposits.
Sarvottam (Non-Callable) Domestic Retail Term Deposits (above ₹1 crore to less than ₹3 crores) (Pre-Mature Payment not allowed):
- 30 bps over card rate for tenor 1 year
- 40 bps over card rate for tenor 2 years
- Other Term and conditions as applicable
- Link for details:https://bank.sbi/web/interest-rates/sarvottam-domestic-term-deposit
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