State Bank of India’s best published fixed deposit rate is 6.45% a year for general citizens and 7.05% for senior citizens, at 444 days (Amrit Vrishti; the senior rate applies at 5–10 years). That is the lowest of the twelve providers we track, which is what the largest deposit base in the country buys you: SBI does not have to compete for your money.
The rate
| General rate | 6.45% p.a. |
|---|---|
| Senior citizen rate | 7.05% p.a. |
| Best tenure | 444 days (Amrit Vrishti); senior rate at 5–10 years |
| Deposit size covered | Below ₹3 crore |
as of 2026-10-02 · Each bank’s own rate page or rate card, deposits below ₹3 crore
How it compares
12th highest of the 12 providers we track — 1.80% below Suryoday Small Finance Bank at 8.25%, and 0.30% below Bank of Baroda, the best-paying PSU bank on the list. Whether that gap is worth moving for depends on size: the DICGC cover of ₹5 lakh per depositor per bank is the same wherever you hold the money, and the argument for and against the small finance banks is set out under best FD rates.
| Bank | Type | General | Senior citizen | Best tenure |
|---|---|---|---|---|
| Suryoday Small Finance Bank | SFB | 8.25% | 8.50% | 5 years exactly |
| Utkarsh Small Finance Bank | SFB | 8.10% | 8.25% | 666 days |
| Shivalik Small Finance Bank | SFB | 8.00% | 8.25% | 23 months 1 day to 27 months |
| Unity Small Finance Bank | SFB | 8.00% | 8.50% | 501 days |
| Jana Small Finance Bank | SFB | 8.00% | 8.30% | Over 2 years to 3 years |
| Bank of Baroda | PSU Bank | 6.75% | 7.25% | 555 days (Golden Goal) |
| Kotak Mahindra Bank | Private Bank | 6.65% | 7.15% | 2 years to under 3 years |
| Punjab National Bank | PSU Bank | 6.60% | 7.10% | 444 days |
| Axis Bank | Private Bank | 6.50% | 7.25% | 18 months to 10 years (senior rate at 5–10 years) |
| HDFC Bank | Private Bank | 6.50% | 7.10% | 3 years 1 day to under 4 years 7 months |
| ICICI Bank | Private Bank | 6.50% | 7.10% | 3 years 1 day to 5 years |
| State Bank of India | PSU Bank | 6.45% | 7.05% | 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
What you keep after tax
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.
To put an amount and a tenure against the rate, use the FD calculator; the TDS on FD calculator shows when the bank starts deducting. The rest of the bank’s deposit terms sit on the SBI fixed deposit page.
Terms change without notice. Confirm the current figures with State Bank of India before you act.