About SBI fixed deposits
State Bank of India (SBI), with a legacy spanning over 200 years, is India's largest public sector bank managing total deposits exceeding ₹49 lakh crore as of March 2026. According to the Reserve Bank of India's Statistical Tables, SBI holds approximately 23% of all bank deposits in India, making it the most trusted name in Indian banking.
SBI FDs are insured up to ₹5 lakh per depositor by DICGC (a wholly-owned subsidiary of RBI). The bank operates through 22,141 branches across India as per its latest annual report, offering one of the widest branch networks for FD servicing. SBI revises its FD interest rates periodically based on the RBI's repo rate guidance — the current repo rate stands at 6.0% as of April 2026.
Current rates for deposits below ₹3 crore: 1-year at 6.80%, 2-year at 7.00% (best rate), 3-year at 6.75%, 5-year at 6.50%. Senior citizens (60+) receive an additional 0.50%, and super senior citizens (80+) get 0.80% extra across all tenures.
SBI FD interest rates April 2026
| Tenure | General | Senior (60+) | Super senior (80+) |
|---|---|---|---|
| 6 months | 5.50% | 6.00% | 6.30% |
| 1 year | 6.80% | 7.30% | 7.60% |
| 2 years | 7.00% | 7.50% | 7.80% |
| 3 years | 6.75% | 7.25% | 7.55% |
| 5 years (80C) | 6.50% | 7.00% | 7.30% |
| 10 years | 6.50% | 7.00% | 7.30% |
SBI FD vs other banks
While SBI's rates are competitive, they are typically 0.10-0.25% lower than top private banks like HDFC Bank (7.25%) and ICICI Bank (7.20%) for equivalent tenures. However, SBI's government ownership (57.6% stake held by GoI) provides an implicit sovereign backing beyond the ₹5 lakh DICGC insurance — a factor that makes SBI the preferred choice for large deposits exceeding ₹5 lakh where bank safety is paramount.
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See how SBI compares with HDFC, Post Office, and other FD options.
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