How To Open An SBI FD Account Online?

At the click of a mouse, you can open an e-fixed deposit using the net banking platform of SBI. From the broad variety of FD alternatives, SBI customers can pick and open one that better represents their needs. To measure the maturity value and interest rate on an SBI FD, use an online FD interest calculator before opening an FD account. As it is very easy to pay for the term deposit, SBI online FD is very handy and this can be achieved directly via net banking.

Key benefits of opening an SBI FD account online

• An online FD prevents the necessity to physically visit a bank branch and renders it a very quick and hassle-free procedure to open an FD.
• Payment for the FD is very simple and this can be achieved directly through net banking, rendering the payment system very quick and seamless. What you have to do is transfer the money to the relevant FD account from the savings account.
• You can renew and close the deposit electronically immediately once you open an FD online. For all of these reasons, thus, there is no need to go to the bank physically.

Requirements to open an SBI FD account online

• Your SBI savings account
• Your SBI net banking account with required credentials
• Your SBI mobile banking account

Steps to open an SBI FD account online

• Visit the official website of SBI and sign in to your net banking account using the required credentials i.e. User ID and Password.
• Now click on the ‘Deposit Schemes’ option and navigate to the ‘Term Deposits’ section.
• Now select ‘e-fixed deposit’ and select the type of fixed deposit account that you are willing to open.
• Click on ‘Proceed’
• In case you have multiple bank accounts with SBI, select the account from which you want to debit the amount.
• Now select the FD principal amount and enter the same in the ‘Amount’ field.
• If you are a senior citizen above the age of 60, then click on the ‘Senior Citizens’ tab.
• Select from a cumulative/STDR deposit or a non-cumulative/TDR deposit according to your preference and select the maturity date/internet payout frequency.
• Now opt the maturity instructions for your FD account
• Now accept the ‘Terms and Conditions’ and click on ‘Submit’.
• Once the submitted details are verified your FD account with related details will appear on the screen of your device.
• Now click on ‘Ok’
• For future reference, please note the transaction number. By clicking on the respective options, you can print or save it as a PDF.

SBI FD Interest Rates

Tenure	General Public	Senior Citizens
7 – 45 days	2.90%	3.40%
46 – 179 days	3.90%	4.40%
180 – 210 days	4.40%	4.90%
211 days – upto 1 yr	4.40%	4.90%
1 yr – upto 2 yrs	4.90%	5.40%
2 yrs – upto 3 yrs	5.10%	5.60%
3 yrs – upto 5 yrs	5.30%	5.80%
5 – 10 yrs	5.40%	6.20%