What State Bank of India charges for a fixed deposit, what it costs in rupees, and how it compares with every other provider we track.
Rate, maximum and fees
| Advertised rate | Maximum rate | Terms | Fee |
|---|---|---|---|
| 6.45% | — | 7.05% for senior citizens | 444 days (Amrit Vrishti); senior rate at 5–10 years |
as of 2026-10-02 · Each bank’s own rate page or rate card, deposits below ₹3 crore
The advertised figure is a starting rate, not an offer.
What that costs in rupees
On ₹5,00,000 for 5 years, compounded quarterly.
| Interest at 6.45% | ₹1,88,514 |
|---|---|
| After tax at the 30% slab | ₹1,29,698 |
| What you get at maturity, after tax | ₹6,29,698 |
Interest is taxed at your slab rate, so this assumes the top slab plus 4% cess. At a lower slab you keep more. TDS applies once interest crosses the annual threshold.
Run your own numbers on the FD calculator.
How it compares
State Bank of India is the 12th highest of the 12 providers we track — 1.80% below Suryoday Small Finance Bank at 8.25%.
See the full table: all fd rates.
What moves this rate
Public sector bank. Floating retail loans are priced off an external benchmark, so RBI rate cuts pass through within a reset cycle.
FD interest is taxed at your normal slab rate. There is no special treatment. So the advertised rate is a before-tax figure. At the 30% slab plus 4% cess, roughly a third of it goes in tax. The bank also cuts TDS once your interest crosses the yearly limit.
Deposit insurance matters more than the last few decimal points of rate. DICGC covers ₹5 lakh per person per bank, including interest. Anything above that in one bank is uninsured, however good the rate looks. Splitting money across banks keeps every rupee covered.
Credit cards branded SBI are issued by SBI Cards and Payment Services Limited, a separate listed company in the same group. See SBI Card.
Where to go next
SBI also lends, and the SBI home loan sits at the cheaper end of the table we keep for the best home loans. If you are choosing a deposit rather than borrowing, compare this rate with every bank we track on the best FD rates table, and remember that a deposit can be borrowed against: a loan against an FD is usually cheaper than breaking it. Where the deposit is being held to build a rainy-day balance instead, savings account interest rates are the fairer comparison.
State Bank of India fixed deposit in detail
- State Bank of India fixed deposit interest rate — Rates for regular and senior citizens, and what you keep after tax.
Other State Bank of India products
- Home loan — from 7.25%
- Personal loan — from 10.00%
Related reading
SBI Home Loan
What SBI charges for a home loan, what it costs in rupees, and how it compares with the other lenders we track.
17 Sep 2026 · 1 min
SBI Personal Loan
What State Bank of India charges for a personal loan, what it costs in rupees, and how it compares.
17 Sep 2026 · 2 min