Sbi Fixed Deposit Interest Rates 2019

NRE FD Interest Rates – SBI NRI Services (NRE Fixed Deposit Interest Rate) These are FD rates applicable for SBI NRI Services – NRE Fixed Deposits The rate is as per rate chart applicable w.e.f. The tenor range offered by SBI for this scheme is from 5 – 10 years with a rate of return of 7.35 per cent per annum. If one chooses to invest in the scheme for 211 days to 1 year they will enjoy an interest rate of 6.90% per annum. Subsequently, if the investment is made for 1 to 2 years, an interest rate of 7.20 per cent per annum is provided.

Bank Fixed Deposits (FDs) are the safest forms of investment. They are not only risk-free but also flexible as banks allow you to withdraw the amount prematurely when in need. There are different types of FDs in the banks such as the short-term deposits and long-term deposits. The short-term deposits are usually for periods less than six months where the banks give you simple interest on the principal investments. The long-term deposits are re-investment kind of deposits where the bank pays you interest on compound basis.

Calculating the compound interest is a complex mathematical operation. The process is extremely difficult and time-consuming. Plus, the results so derived are prone to human calculation errors. Thus, you can use an FD Calculator to determine the interest you receive on maturity of such deposits. One such user-friendly calculator is the SBI fixed deposit calculator. SBI FD Calculator allows you to calculate the total interest you’ll receive upon maturity of your deposit and plan your investment accordingly.

Features and Benefits of SBI FD Calculator

State Bank of India (SBI) offers two kinds of fixed deposits: non-cumulative FD and cumulative FD. The periodic interest payment option is the first one whereas the second category is the reinvestment option. Calculating the interest payment in the periodical option category is easy because SBI uses the simple interest calculation formula. However, you will need the help of the SBI FD calculator to arrive at the maturity amount in the reinvestment category. Let us now look at the features and benefits of the SBI fixed deposit calculator.

The formula for calculating the maturity amount with compound interest is a challenging one to understand and determine. The SBI FD calculator makes your job easy.

SBI Fixed Deposits Interest Rates

State Bank of India is the largest public sector bank in India. It offers various fixed deposit products to its customers at attractive rates of interest. The SBI interest rates change at frequent intervals. Similarly, they have different rates of interest depending on the principal deposit amount. This interest rate table will make things clear.

Below ₹ 1 Crore w.e.f. 28.11.2018

Deposit TenureGeneralSenior Citizen
7 to 45 days5.75%6.25%
46 to 179 days6.25%6.75%
180 to 210 days6.35%6.85%
211 days to < 1 year6.40%6.90%
1 year to < 2 years6.80%7.30%
2 years to < 3 years6.80%7.30%
3 years to < 5 years6.80%7.30%
5 years to 10 years6.85%7.35%

Bulk Term Deposits between ₹ 1 Crore and ₹ 10 Crores w.e.f. 30.07.2018

Deposit TenureGeneralSenior Citizen
7 to 45 days5.75%6.25%
46 to 179 days6.25%6.75%
180 to 210 days6.35%6.85%
211 days to < 1 year6.40%6.90%
1 year to < 2 years6.70%7.20%
2 years to < 3 years6.75%7.25%
3 years to < 5 years6.80%7.30%
5 years to 10 years6.85%7.85%

Bulk Term Deposits above ₹ 10 Crores w.e.f. 30.07.2018

Deposit TenureGeneralSenior Citizen
7 to 45 days5.75%6.25%
46 to 179 days6.25%6.75%
180 to 210 days6.35%6.85%
211 days to < 1 year6.40%6.90%
1 year to < 2 years6.70%7.20%
2 years to < 3 years6.75%7.25%
3 years to < 5 years6.80%7.30%
5 years to 10 years6.85%7.35%

Important points to note

  • NRO and NRE deposits have a different rate structure.
  • There is a premature withdrawal penalty of 1% for the bulk term deposits.
  • Staff members and ex-staff of State Bank of India get an additional interest of 1% on all fixed deposits.

How to calculate the interest with Online SBI FD Calculator

Calculating the applicable interest is a complicated process. It is best to use the SBI Fixed Deposit Calculator to determine the maturity amount and the interest you earn from the deposit. Here is the process explained in a few steps.

  • Enter the principal amount, the rate of interest, and the deposit tenure.
  • The next step is to choose the interest frequency options. The available options are simple, monthly, quarterly, half-yearly, and annually.
  • On clicking the ‘Calculate’ button, you get the maturity amount and the amount of interest.

Tax on SBI Fixed Deposit

The interest received on bank FDs is taxable. You have to include the interest as a part of your income while preparing your Income Tax returns. The income tax rate depends on the slab you fit into while computing your taxable income.

The Income Tax Act 1961 stipulates that banks and other financial institutions should deduct tax at source while paying interest on fixed deposits placed with them if the amount of interest paid to the individual depositor is more than ₹ 10,000 in a financial year. All branches of a bank constitute a single identity. The TDS rate is as follows.

  • 10% if you update the PAN details in your account
  • Otherwise, the rate is 20%

The banks are under an obligation to deposit the TDS amount to the Income Tax department at fixed intervals. Consequently, the banks furnish the details of the TDS deposited with the IT Department to the depositor vide Form 15G and 15H. You can use these details while preparing your IT returns and claim refunds if applicable.

If your annual income does not come in the tax bracket, you can submit Form 15G (General Public) or 15H (Senior Citizen) along with your PAN details to the banks. The banks do not deduct TDS under such circumstances.

Eligibility Criteria for SBI Fixed Deposits

State bank of India has the most extensive network of branches in India. You are never far away from a State Bank of India branch wherever you are in India. Hence, a significant proportion of the Indian population prefers to open fixed deposit accounts with the SBI. The following categories of entities can open fixed deposits with SBI.

  • Individuals – Resident as well as Non-Resident Indians can open FDs in SBI in single or joint names.
  • Non-individuals like sole proprietorship, partnership firms, companies, Government departments, clubs, societies, trusts, and associations

One should compulsorily satisfy KYC norms while opening FD in SBI. It is also advisable to avail the nomination facility for your convenience. Ensure to update your PAN details and submit the necessary 15G/H forms if you do not come in the tax bracket.

Use the SBI FD calculator to determine the maturity amount and the interest you earn on your deposit.


The State Bank of India is one of the oldest financial institutions in the nation making the same a bank with a huge market share. The SBI Fixed Deposit Scheme is known for its high returns and impressive interest rates. The SBI Interest rate is competitive, and it is one of the many reasons why the bank can go ahead and formulate investment schemes for its customers.

Sbi Term Deposit Interest Rate

A flexible tenor period is offered by the SBI to its customers who are interested in its Fixed Deposit Schemes. An investor can choose to keep their money fixed with the bank anywhere between 7 days to 10 Years. The best part, market fluctuations will have no impact on the interest rate!

SBI Fixed Deposit Interest Rate

The interest rate for an FD is decided at the time it is taken. Though the pre-decided interest rate does not change over time, the tenor chosen for the FD does leave an impact. Thus, the SBI Fixed Deposit Interest Rate changes with the maturity period.

SBI’s FD schemes come with a variety of tenor

Tenure

SBI Regular FD Rates (Annually)

7 – 45 Days

5.75 Percent

46 – 179 Days

6.25 Percent

180 – 210 Days

6.35 Percent

211 – 364 Days

6.40 Percent

1 Year

6.40 Percent

1 Year 1 Day – 1 Year 364 Days

6.40 Percent

2 Years – 2 Years 364 Days

6.60 Percent

3 Years – 4 Years 364 Days

6.70 Percent

5 – 10 Years

6.75 Percent

The longer the tenor of the FD, the higher is the interest rate offered by the bank

  • The shortest permissible by the trusted bank is 7 days with the interest rates ranging from 5.25 to 7.25 per cent per annum. The benefit is compounded quarterly.
  • Customers who want to avail the FD schemes for 2, 3 or 4 months can avail the same at an attractive interest rate of 6.5 per cent per annum.
  • If a customer opts for a policy with a tenor of 6 to 9 months, they can enjoy an interest rate of 7 per cent per annum.
  • The bank also offers medium and long-term tenors where the interest rates lie within the 7 per cent to 7.5 per cent bracket with the tenor range of 1 to 5 years.

Variations in Interest Rates

The State Bank of India is known for its competitive attitude. It provides its customers with an interest rate of:

  • 5.75% – 6.75% for all customers
  • Senior citizens are offered an additional 0.50% on the regular interest rates
  • Ex-employees of the bank or current employees of the bank are provided with an additional 1 % on the existing interest rates as offered to the general population.

Though employees benefit from being a part of the SBI team, the government-controlled bank provides differential benefits to the elderly.

Sbi

State Bank of India Senior Citizen FD Scheme

SBI offers high-interest rates on its Senior Citizen FD Scheme making it a popular investment vehicle among its senior citizen customers. An individual over the age of 60 years can either opt for the medium-term, short-term or long-term fixed deposit and enjoy an average SBI Senior Citizen FD Interest Rate that lies within the range of 6.25 per cent to 7.35 per cent per annum.

Tenure

SBI Senior Citizen FD Rates (Annually)

7 – 45 Days

6.25 Percent

46 – 179 Days

6.75 Percent

180 – 210 Days

6.85 Percent

211 – 364 Days

6.90 Percent

1 Year

6.90 Percent

1 Year 1 Day – 1 Year 364 Days

6.90 Percent

2 Years – 2 Years 364 Days

7.10 Percent

3 Years – 4 Years 364 Days

7.20 Percent

5 – 10 Years

7.25 Percent

The tenor range offered by SBI for this scheme is from 5 – 10 years with a rate of return of 7.35 per cent per annum.

  • If one chooses to invest in the scheme for 211 days to 1 year they will enjoy an interest rate of 6.90% per annum.
  • Subsequently, if the investment is made for 1 to 2 years, an interest rate of 7.20 per cent per annum is provided.
  • It rises to a whopping 7.30 per cent per annum if one keeps an FD for a tenor of 3 – 5 years.

Sbi Fixed Deposit Interest Rates 2019 Table Chart

Pensioners can benefit a lot from this FD scheme since it is a great source of supplementary income in the retirement years.

Knowing the different types of Fixed Deposits offered by the Bank is as just as important as knowing the tenor and interest rates offered.

State Bank of India FD Types

The SBI offers the following FD schemes to their customers:

  1. SBI Tax Saving Scheme
  2. Reinvestment Plan
  3. SBI MODS
  4. Annuity Deposit Scheme
  5. SBI Flexi Deposit Scheme

Let’s Learn the Basics of Each of these FD schemes

  1. SBI Tax Saving Scheme

Sbi Fixed Deposit Interest Rates 2019 Nre

  • Comes with tax benefits
  • Customers investing in this scheme can avail tax benefits under the Section 80C of Income Tax Act, 1961

Sbi Deposit Interest Rates

  • The tenor is minimum of 5 years
  • The fund cannot be withdrawn prematurely
  • No overdraft or loan against the invested sum
  • Minimum deposit is INR 1000 with an upper limit of INR 1,50,000
  1. Reinvestment Plan
  • Ideal for those who want to make the most out of the compound interest factor on their FDs
  • Interest will be paid to the customer only when the maturity period has arrived
  • Minimum deposit is INR 1000 with no imposed upper limit
  • Tenor period is minimum 6 months – maximum 10 years
  • Loan, overdraft, premature withdrawal, auto-renewal and nominee facilities are available for this scheme
  1. SBI MODS
  • It is the abbreviated form of Multi Option Deposit Schemes
  • Linked with either a current a/c or a savings a/c
  • Partial funds can be withdrawn at any point in time
  • Remaining funds will earn interest as usual
  • Minimum deposit under the scheme is INR 10,000
  • Tenor period lies within the range of 1 – 5 years
  1. Annuity Deposit Scheme
  • Guaranteed income against lump sum deposit made by the account holder
  • Income is in the form of EMIs + interest earned
  • Minimum deposit is INR 25,000
  1. SBI Flexi Deposit Scheme
  • Does not require a lump sum deposit. Instead one can make several deposits at regular intervals

Sbi Fixed Deposit Interest Rates 2019 2018

  • Tenor period is a minimum of 5 years and a maximum of 7 years
  • The minimum investment is INR 5,000 with an upper limit of INR 50,000/fiscal year

With so many things to be kept in mind while depositing in an FD, the most common question asked, “What is the amount I will receive at maturity?” Though the bank executive can help you, you can use the SBI online calculator.

The SBI FD Calculator

The SBI FD Calculator computes the amount a person will receive at the end of the tenor or on the maturity date. However, it is necessary to fill in the correct data to get the right approximation. Here is what the depositor needs to input:

  • Principal amount or the total amount to be deposited – this is decided by the depositor. Any money not being used should be invested in a fixed deposit.
  • The rate of interest – this is decided by the bank and will take into consideration age and tenor
  • Compounding frequency – it can be mutually decided by the bank and depositor, though it may be unchangeable for certain FD schemes. It can vary from monthly, quarterly, or annually. Remember, the longer the compounding frequency period, the higher is the rate of interest earned
  • Tenor – the period of time for which the money can be decided by the depositor. However, the Bank would have certain restrictions.

Keep in mind that the calculators are designed to give you an accurate amount, but slight variations can occur owing to schemes opted for and other factors.

Sbi Bank Fixed Deposit Interest Rates 2019

The SBI or the State Bank of India is the largest bank of the subcontinent. Since it is government-controlled, its features, offers and interest rates are designed for the benefit of the citizens, but every deposit carries a higher safety value than any other. But, it is crucial to study all the SBI FD offers and schemes before reaching a decision.