Latest SBI fixed deposit (FD) interest rates

Many banks have increased their fixed deposit interest rates since May 2022 including big banks like HDFC Bank, SBI and ICICI Bank. The last time the State Bank of India (SBI) hiked fixed deposit (FD) interest rates was in October 2022 for amounts of up to Rs 2 crore

Latest SBI FD interest rates
SBI has increased the interest rates for the deposits maturing between 7 days to 45 days to 3 percent. Similarly, FDs maturing between 46 days to 179 days, will fetch an interest rate of 4.50 percent. The interest rate on retail domestic term deposits ranging between 180 days to 210 days has jumped to 5.25 percent.


The interest rate on deposits maturing between 211 days to less than one year to 5.50 percent. SBI now offers the interest rate of 6.10% on tenure of one year to less than two years.

For FDs maturing between two years to less than three years, the interest rate is 6.25%. On deposits maturing between three years to less than five years, the interest rate is 6.10%. For FDs maturing between five years to up to 10 years, the interest rate is 6.10%.

Tenors	For Public w.e.f. 22.10.2022	For Senior Citizens w.e.f. 22.10.2022
7 days to 45 days	3	3.5
46 days to 179 days	4.5	5
180 days to 210 days	5.25	5.75
211 days to less than 1 year	5.5	6
1 year to less than 2 year	6.1	6.6
2 years to less than 3 years	6.25	6.75
3 years to less than 5 years	6.1	6.6
5 years and up to 10 years	6.1	6.9

SBI Senior Citizen FD interest rate
According to SBI website, “A special ‘SBI Wecare’ Deposit for Senior Citizens has been introduced in the Retail TD segment wherein an additional premium of 30 bps over & above the existing 50 bps i.e. 80 bps over card rate for public (as indicated in the above table) will be paid to Senior Citizens on their retail TD for '5 Years and above' tenor only. ‘SBI Wecare’ deposit scheme stands extended up to 31st March 2023.”