SBI FD Rates 2024: Check Your ROI Of SBI Fixed Deposit In 2024


Mohul Ghosh

Mohul Ghosh

Feb 10, 2024


Fixed deposits (FDs) present a secure fixed-income option for investors seeking capital preservation without market volatility risks, offering assured returns over predetermined periods. Interest accruals remain locked based on rates at booking time itself across tenor selections – short-term (7 days onwards), medium-term brackets (6 months onwards) and longer 5-10 year terms.

Earnings certainty aids financial planning towards life’s crucial milestones conveniently. Hence FDs suit most cautious asset allocation strategies prioritizing safety and liquidity in the near term.

SBI FD Interest Rates Across Maturities

SBI offers the following returns on FDs under Rs 2 crores:

7-45 days – 3.5% (4% for seniors)

46-179 days – 4.75% (5.25%)

180-210 days – 5.75% (6.25%)

1-2 years – 6.8% (7.3%)

2-3 years – 7% (7.5%)

3-5 years – 6.75% (7.25%)

5-10 years – 6.5% (7%)

It also runs a special 400 days scheme called Amrit Kalash at 7.1% (7.6%).

Ideal for Short Term Financial Needs In summary, FDs present attractive low-risk returns for conservative investors eyeing 2-5 year horizons, providing stability amidst market ups and downs. Leading banks frequently revise rates based on evolving RBI monetary policies – hence updated consumer awareness aids maximizing accruals across tenors.

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Mohul Ghosh
Mohul Ghosh
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