SBI Bank FD Interest Rate 2021- New

Today SBI Bank FD Interest Rate

SBI Fixed Deposit interest rate 2021

SBI Bank FD Interest Rate 2021: State Bank of India (SBI) offers a variety of investment products. Fixed Deposits or Term Deposits are one of the key products. The lender offers you the option of opening a fixed deposit account for a period that ranges between 7 days and 10 years. The interest offered on such tenures is in the range of 2.90% to 5.40% p.a. for the public. Senior citizens are offered additional interest of 0.50% on all tenures

SBI Bank FD Interest Rate 2021

SBI Bank FD Interest Rate 2021

TenureGeneral Public FD RateSenior Citizens FD Rate
7 – 45 days2.90%3.40%
46 – 179 days3.90%4.40%
180 – upto 1 yr4.40%4.90%
1 yr – upto 2 yrs5.00%5.50%
2 yrs – upto 3 yrs5.10%5.60%
3 yrs – upto 5 yrs5.30%5.80%
5 – 10 yrs5.40%6.20%

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Types of SBI Bank Fixed Deposits

  • SBI Term Deposit
  • SBI Tax Saving Scheme, 2006
  • SBI Multi Option Deposit Scheme
  • Reinvestment Plan

SBI Best Fixed Deposit Plan in 2021

We need to compare tenure wise latest FD rate of SBI to choose the tenure at which it provides the highest interest rate. SBI FD rates are best for the deposits with a tenure of 5 years to 10 years, wherein the current FD rate of interest is 5.40% p.a

If one is looking to invest in short-term deposits with SBI Bank FD Interest Rate 2021 rates range from 2.90% p.a. to 4.40% p.a for deposits with a tenure of 7 days to less than 365 days. These deposits are known as short term deposits as they have a tenure of less than 1 year. Short-term SBI FD rates for senior citizens range from 3.40% to 4.90% p.a.

If one is looking to invest in long term deposits, SBI FD interest rates with tenure of 5 years to 10 years are a good choice with interest rates on deposits with a tenure of 10 years at 5.40%. Senior citizens are offered special rates from bank with highest deposit rates of 6.20% p.a. on long term FDs.

Fixed Deposits of SBI have a higher interest rate compared to their saving deposits. Benefits of opening a FD account in SBI are:

  • Interest on deposit is paid only at the time of the maturity
  • Nomination facility available
  • Extra interest of 0.25% to 0.50% payable to the senior citizens
  • Availability of auto renewal facility on the deposit
  • Earn higher returns on the money deposited
  • SBI Bank FD Interest Rate 2021

Before investing in SBI Bank FD Interest Rate 2021, it is quite imperative to know the important features it offers:

  • Tenure starts from 7 days and goes till 10 years
  • Special FD scheme to benefit the taxpayers as per Section 80C (Income Tax Act, 1961)
  • Minimum deposit amount starts from Rs. 1000 with no upper limit
  • Facility to deposit in bulk available (i.e. deposit above Rs. 2 crore)
  • Extra 0.5% interest rates for senior citizens (individuals aged 60 years or more)
  • For deposits of 5 years and above, SBI is offering 0.3% additional interest along with the existing 0.5%  to senior citizens, i.e. 0.8% to senior citizens for a tenure of 5 years and above (in the SBI Wecare deposit scheme)

Investing in SBI Bank FD Interest Rate 2021 can benefit investors in the following ways:

  • Guaranteed returns at a fixed interest rate at the time of booking
  • Insurance cover of Rs. 5 lakh to all investors
  • Choice of interest payout (monthly/quarterly)
  • Loan/Overdraft facility to cope with financial setbacks
  • Automatic renewals available
  • Option to withdraw prematurely available

Regular Fixed Deposit -SBI Bank FD Interest Rate 2021

  • Under this scheme, the depositor can make an investment into the deposit to earn higher returns
  • Interest is paid only upon maturity
  • Nomination facility is available
  • The extra interest of 0.50% is available for senior citizens
  • Auto-renewal facility is available
  • SBI Bank FD Interest Rate 2021

Flexi Deposit Scheme -SBI Bank FD Interest Rate 2021

  • This scheme is more like recurring deposits in which the depositor can make deposits anytime during a month instead of a single fixed deposit
  • One can make deposits anytime during a month and multiple deposits facilities also available
  • Loan and nomination facility available
  • Extra 0.50% interest rate available to senior citizens
  • SBI Bank FD Interest Rate 2021

Authored By Kousik Mondal

Hi, I am Kousik Mondal from Kolkata, India. I am a professional career counselor for the past 5+ years. Love reading news and strongly believe only awareness can create a better future. And A blog scientist by the mind and a passionate blogger by ❤️heart ??

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