"SBI Fixed Deposit Schemes"-Safe, Secure and Simple to Understand!

Inputs : Guru Chandra Sekhar

The State Bank of India (SBI), the country’s largest public sector bank, continues to be a trusted choice for fixed deposit (FD) investments, offering secure and stable returns for millions of customers. As of April 7, 2025, SBI provides a variety of FD schemes tailored to different financial goals, with competitive interest rates and flexible tenures ranging from 7 days to 10 years.

Here’s an overview of the latest updates and offerings.Recent Changes in FD Schemes. SBI recently discontinued its popular Amrit Kalash FD scheme, effective April 1, 2025. This 400-day tenure FD offered 7.10% per annum for the general public and 7.60% for senior citizens. The scheme, initially launched in April 2023, was a limited-period offer that ended after providing higher-than-average returns.

In its place, SBI introduced the Amrit Vrishti FD scheme, featuring a 444-day tenure with rates of 7.25% for general customers, 7.75% for senior citizens, and an enhanced 7.85% for super senior citizens (aged 80+). This scheme, launched in July 2024, remains a key option for investors seeking attractive short-term returns.Additionally, SBI launched the SBI Patrons FD scheme in January 2025, targeting super senior citizens aged 80 and above. This scheme offers an additional 0.10% interest over the standard senior citizen rate, rewarding long-term loyalty.

Alongside this, the Har Ghar Lakhpati recurring deposit scheme was introduced to help customers systematically save toward a goal of ₹1 lakh or more, appealing to a broad audience, including minors.Current Interest Rates For regular FD tenures (below ₹3 crore), SBI offers rates ranging from 3.50% for 7–45 days to 6.75% for 3–5 year terms.

Senior citizens receive an additional 0.50%, bringing the maximum to 7.25% for the same tenure. The SBI We-care scheme boosts this further for tenures of 5–10 years, offering senior citizens up to 7.50%. For bulk deposits (₹3 crore and above), rates vary by market conditions and require approval from SBI’s Treasury Branch.Key Features and Benefits Minimum Investment: Most SBI FDs start at ₹1,000, making them accessible to a wide range of investors.

The SBI Sarvottam FD, aimed at higher investments (₹15.01 lakh to ₹3 crore), offers up to 7.40% for a 2-year tenure (7.90% for senior citizens).Flexibility: Interest payout options include monthly, quarterly, half-yearly, or at maturity, with auto-renewal available for select schemes.Loan Facility: Investors can avail loans against their FDs, up to 90% of the deposit amount, providing liquidity without breaking the FD.Safety: SBI FDs are backed by a FAAA/Stable rating from CRISIL and covered under the RBI’s Deposit Insurance Scheme up to ₹5 lakh per depositor.

How to Invest

SBI offers seamless online FD opening through its YONO app or internet banking for existing customers. Alternatively, visiting a branch with KYC documents (e.g., Aadhaar, PAN) and a minimum deposit allows offline account setup. The process is straightforward, with digital tools enhancing convenience.Why Choose SBI FDs?Despite competition from private banks and small finance banks offering rates above 8%, SBI’s reliability, extensive branch network, and government backing make it a preferred choice for risk-averse investors. The bank’s focus on innovation—evident in schemes like SBI Green Rupee Term Deposit (funding sustainable projects)—also aligns with modern financial trends.