Fixed deposits (FDs) have long been a preferred investment option for risk-averse investors looking for stable and secure returns. The State Bank of India (SBI) is currently offering attractive interest rates on its 180-day FD scheme, making it a great time for investors to park their savings and earn bumper returns. In this guide, we’ll break down the SBI FD scheme, its benefits, interest rates, and how you can take advantage of it.
SBI FD Scheme
| Feature | Details |
|---|---|
| Scheme Name | SBI 180-Day Fixed Deposit Scheme |
| Interest Rate (General Public) | 6.25% |
| Interest Rate (Senior Citizens) | 6.75% |
| Minimum Investment | ₹1,000 |
| Maximum Investment | No upper limit |
| Premature Withdrawal | Allowed with a penalty |
| Where to Apply | Official SBI Website or SBI branches |
SBI’s 180-day Fixed Deposit Scheme is an excellent short-term investment for those looking to earn stable and competitive returns. With an interest rate of 6.25% (6.75% for seniors), SBI FDs are secure, reliable, and offer great liquidity options. Whether you’re a young investor, a retiree, or just looking for a safe place to park your funds, SBI FDs provide peace of mind and assured returns.
Why Choose SBI Fixed Deposits?
State Bank of India (SBI) is one of the most trusted and largest banks in India. SBI’s FD schemes are backed by government regulations and deposit insurance, ensuring safety and reliability. Here’s why you should consider investing in an SBI 180-day FD:
- Guaranteed Returns: Unlike market-linked investments, FD returns are fixed and guaranteed.
- Higher Interest for Senior Citizens: SBI offers an additional 0.50% interest for senior citizens, making it an ideal investment for retirees.
- Flexible Investment Amounts: You can start with as low as ₹1,000, making it accessible for all investors.
- Liquidity Options: Need funds before maturity? SBI allows premature withdrawals with minimal penalties.
- Tax Benefits: Some FD schemes, such as tax-saving FDs, offer tax benefits under Section 80C of the Income Tax Act.
see also: You will become a millionaire in just 2 years and get Rs 2,32,044 by depositing only this much
Current Interest Rates for SBI Fixed Deposits
SBI FD Interest Rates (Effective as of February 2025)
| Tenure | General Public | Senior Citizens |
|---|---|---|
| 7-45 days | 3.50% | 4.00% |
| 46-179 days | 4.75% | 5.25% |
| 180-210 days | 6.25% | 6.75% |
| 211-365 days | 6.50% | 7.00% |
| 1-2 years | 6.80% | 7.30% |
| Special Scheme (Amrit Kalash – 400 days) | 7.10% | 7.60% |
| Special Scheme (Amrit Vrishti – 444 days) | 7.25% | 7.75% |
Tip: Senior citizens over 80 years old get an additional 0.10% interest under the SBI Patrons Scheme.
How to Open an SBI 180-Day Fixed Deposit?
Investing in an SBI FD is simple and can be done in three easy steps:
1. Online Method (via SBI Net Banking & YONO App)
- Log in to your SBI Net Banking account.
- Navigate to Fixed Deposit > Open FD Account.
- Select tenure (180 days) and enter the deposit amount.
- Confirm details and complete the transaction.
2. Offline Method (Visiting SBI Branch)
- Visit the nearest SBI branch with your Aadhaar card, PAN card, and a passport-sized photo.
- Fill out the FD application form.
- Deposit the amount via cheque or cash.
- Collect the FD receipt for reference.
3. Auto-Renewal Option
- SBI allows auto-renewal of FDs at maturity. Investors can enable this option while opening the FD.
see also: Government Plans to Increase Coverage to 12 Lakhs
1 साल में 51.56% का छप्परफाड़ रिटर्न, इस Mutual Fund Scheme ने 10 लाख को बना दिए 15 लाख रुपये
Taxation on SBI Fixed Deposits
- TDS Deduction: If FD interest exceeds ₹40,000 per year (₹50,000 for senior citizens), TDS (Tax Deducted at Source) at 10% is applicable.
- Form 15G/15H: Investors with incomes below the taxable limit can submit Form 15G (for general investors) or Form 15H (for senior citizens) to avoid TDS.
- Tax-Saving FD Option: SBI offers 5-year tax-saving FDs with tax deductions up to ₹1.5 lakh under Section 80C.
SBI FD Scheme FAQs
1. Can I withdraw my SBI 180-day FD before maturity?
Yes, but a penalty of 0.50% – 1.00% on the interest rate will apply.
2. Is SBI FD better than a savings account?
Yes! SBI FDs offer higher interest rates (up to 7.75%) compared to savings accounts (usually 2.70%-3.00%).
3. Is my money safe in SBI FDs?
Absolutely! SBI is government-backed, and deposits up to ₹5 lakh are insured under DICGC (Deposit Insurance and Credit Guarantee Corporation).
4. Can I take a loan against my SBI FD?
Yes! SBI allows loans up to 90% of the FD value at lower interest rates.
5. How is interest calculated on SBI FDs?
Interest is compounded quarterly or paid out monthly, quarterly, or annually based on the investor’s preference.
1 thought on “SBI FD Scheme: Earn High Returns on 180-Day Fixed Deposits”