| TENURE | REGULAR RATES | SENIOR CITIZEN |
| 7 days to 45 days | 3.50% | 4.00% |
| 46 days to 179 days | 5.50% | 6.00% |
| 180 days to 210 days | 6.25% | 6.75% |
| 211 days to less than 1 year | 6.50% | 7.00% |
| 1 year to less than 2 year | 6.80% | 7.30% |
| 2 years to less than 3 years | 7.00% | 7.50% |
| 3 years to less than 5 years | 6.75% | 7.25% |
| 5 years and up to 10 years | 6.50% | 7.50% |
| 400 days (Amrit Kalash) | 7.10% | 7.60% |
| 444 days (Amrit Vrishti) | 7.25% | 7.75% |
SBI Special Term Deposit
The SBI Special Term Deposit (STD) is a type of fixed-term deposit where the interest earned is paid out only at the time of maturity. The interest in an SBI Special Term Deposit is compounded and added to the principal, resulting in higher overall returns.
Returns as high
as 7.1%*
Includes life cover
Completely Tax free+
as 7.1%*
Includes life cover
Completely Tax free+
Maximum returns Offered by
Guaranteed
Highest
7.1%*
Guaranteed Plan
(by insurance companies)
(10 Years)
6.5%**
Fixed Deposits
(by SBI bank)
(5-10 Years)
7.1%***
Public Provident Fund
(other popular options)
(15 Years)
Get Guaranteed returns up to 7.1%*
Fully Tax-Free* (unlike FD), Life Cover Included
- Home
- FD Interest Rates
- SBI FD Interest Rates
- SBI Special Term Deposit
SBI FD Interest Rates
SBI FD Interest Rates 2024 (Yearly Slabs) Highlights (September 2024)
| Tenure | SBI FD Interest Rates 2024 (in % p.a.) |
| For 400 days | 7.10% p.a. (highest slab rate) |
| For 1 year | 6.80% p.a. |
| For 2 years | 7.00% p.a. |
| For 3 years | 6.75% p.a. |
| For 4 years | 6.75% p.a. |
| For 5 years | 6.50% p.a. |
| Tax-Saving FDs | 6.50% p.a. |
Comparison Between
Guaranteed Return Plans
Returns Before Tax
7.5% (TAX-FREE)
Returns After Tax
7.5%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Still Better than FD’s and Debt Mutual Fund
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
*For annual premium upto ₹5 Lacs
Features of SBI Special Term Deposit
Below are the features of SBI Special Term Deposit:
-
Term: The minimum deposit period is 6 months, and the maximum is 10 years.
-
Availability: Available at all SBI branches.
-
Minimum and Maximum Deposit: The minimum deposit is Rs. 1,000, and there's no upper limit. Deposits of Rs. 2 crore or more are considered bulk deposits.
-
Interest: Interest is compounded quarterly and paid out in full at the end of the deposit term.
-
Nomination: Nomination is available in favor of individuals only.
-
Cash Payments: For deposits of Rs. 20,000 or more, cash payments are not allowed at maturity.
-
Transferability: The deposit can be transferred between SBI branches.
-
Tax Deducted at Source (TDS): TDS is applicable as per Indian Income Tax Rules. However, you can submit Form 15G or 15H to claim exemption from TDS if you meet the eligibility criteria.
-
Loans Against Deposits: Loans can be obtained against this deposit with applicable margins. Below are the rates:
| Residual tenor of Deposit as on Date of availing loan (For Public) | Margin |
| Up to 36 Months | 5% |
| >36 months & up to 60 months | 10% |
| >60 months | 15% |
FD interest rates India have fallen consistently over the last 12 years.
Benefits of SBI Special Term Deposit
Below are the benefits of SBI Special Term Deposit:
-
Higher Returns: Due to compounding, STDs generally offer higher returns compared to regular term deposits with the same interest rate.
-
Tax Benefits: Interest earned on STDs is taxable, but you can claim deductions under certain circumstances.
-
Flexibility: You can choose a deposit term that suits your financial goals.
SBI FD Interest Rates 2024 on Retail Domestic Term Deposits (Below Rs. 3 crore) as of 24 September 2024
| Tenor | Interest Rates for General Citizens (in % p.a.) | Interest Rates for Senior Citizens (in % p.a.) |
| 7 days to 45 days | 3.50% | 4.00% |
| 46 days to 179 days | 5.50% | 6.00% |
| 180 days to 210 days | 6.25% | 6.75% |
| 211 days to less than 1 year | 6.50% | 7.00% |
| 1 Year to less than 2 years | 6.80% | 7.30% |
| 2 years to less than 3 years | 7.00% | 7.50% |
| 3 years to less than 5 years | 6.75% | 7.25% |
| 5 years and up to 10 years | 6.50% | 7.50% |
All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
SBI FD Interest Rates 2024 on Domestic Bulk Term Deposit of Rs. 2 Crore and above as of 10 October 2024
| Tenure | Regular Customers Interest Rates (p.a.) | Senior Citizens Interest Rates (p.a.) |
| 7 days to 45 days | 5.25% | 5.75% |
| 46 days to 179 days | 6.25% | 6.75% |
| 180 days to 210 days | 6.60% | 7.10% |
| 211 days to less than 1 year | 6.75% | 7.25% |
| 1 year to less than 2 years | 7.00% | 7.50% |
| 2 years to less than 3 years | 7.00% | 7.50% |
| 3 years to less than 5 years | 6.50% | 7.00% |
| 5 years and up to 10 years | 6.25% | 6.75% |
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FAQs
-
What is the minimum and maximum period for the SBI Special Term Deposit?
minimum deposit period is 6 months, while the maximum period is 10 years. -
Is this deposit available at all branches?
Yes, the SBI Special Term Deposit is available at all SBI branches. -
What is the minimum and maximum deposit amount?
The minimum deposit amount is â‚ą1,000, and there is no upper limit on the maximum deposit. -
What is considered a bulk deposit under this scheme?
A deposit of â‚ą2 crore or more is treated as a bulk deposit. -
How is the interest calculated and paid?
Interest on the deposit is compounded quarterly and paid to the depositor at the end of the term. -
Is a nomination facility available?
Yes, the nomination facility is available, but it can only be made in favor of an individual. -
Can I receive my term deposit payment in cash?
No, if the term deposit (along with interest) is â‚ą20,000 or above, it will not be paid in cash.
*All savings are provided by the insurer as per the IRDAI approved
insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per
applicable tax slabs post 31st march 2023
#Discount offered by insurance company
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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