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Latest SBI FD Rates 2024: How Much Return Will You Get From Fixed Deposit? Check here


New Delhi: Your investment horizon, risk tolerance, and personal financial goals influence where your hard-earned money should be invested. For cautious investors looking to preserve wealth, fixed deposits (FDs) are a great option as they provide security and consistent returns. A fixed income instrument that is not affected by erratic market fluctuations is the fixed deposit.

During the selected term, the interest rate prevailing at the time of booking an FD remains the same. This simplifies the estimation of yields to maturity. (Also Read: From investment to income: An investment of Rs 5-7 lakh in this business idea could generate monthly returns of Rs 1.5 lakh)

It is an ideal investment instrument if you have financial goals that you must meet within a certain period of time. It is one of the safest investment options that exist at the moment. (Also read: ‘Return to office or…’: TCS issues final warning to employees working from home)

Here are the interest rates you can get on fixed deposits at State Bank of India (SBI) if you deposit less than Rs 2 crore starting December 27, 2023:

For short-term deposits (7 days to 45 days), the interest rate is 3.5 percent for the general public and 4 percent for senior citizens.

For medium-term deposits (46 days to 179 days), the interest rate is 4.75 percent for the general public and 5.25 percent for senior citizens.

For slightly longer periods (180 days to 210 days), the interest rate is 5.75 percent for the general public and 6.25 percent for seniors.

If you want to invest for about a year, the interest rate is 6 percent for the general public and 6.5 percent for seniors.

From 1 year to less than 2 years, the interest rate is 6.8 percent for the general public and 7.3 percent for seniors.

From 2 years to less than 3 years, the interest rate is 7 percent for the general public and 7.5 percent for seniors.

From 3 years to less than 5 years, the interest rate is 6.75 percent for the general public and 7.25 percent for seniors.

For longer-term deposits (5 years and up to 10 years), the interest rate is 6.5 percent for the general public and 7.5 percent for seniors.

There is also a special 400-day plan called Amrit Kalash, where the interest rate is 7.1 percent for the general public and 7.6 percent for senior citizens.



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