State Bank of India continues to offer competitive returns on fixed deposits and recurring deposits in June 2026, making them attractive options for risk-averse investors seeking stable returns. According to SBI's official website, for retail term deposits below ₹3 crore, the bank offers interest rates ranging from 3.05% to 6.40% for general customers, with senior citizens eligible for higher rates reaching up to 6.95% under select deposit schemes. The bank's current rate structure shows 6.25% for 1-year deposits and 6.40% for 2-year deposits for general customers, with an additional 0.50% premium for senior citizens across all tenures. As per Mint, FD interest rates across banks vary based on factors such as tenure, age, timeline, and amount, with the basic range of 6 to 7% for regular customers, while senior citizens can earn up to 7.75% to 8% on select mid to long-term tenures.
Under the current rate structure, SBI offers 3.05% interest on deposits maturing in 7–45 days, 4.90% on tenures of 46–179 days, 5.65% on deposits of 180–210 days, and 5.90% on deposits from 211 days to less than one year. Deposits with maturities of one to two years earn 6.25%, while those with tenures of three to five years offer 6.30%. Among regular FD tenures, deposits with maturities between two and three years currently offer one of the highest rates at 6.40% for general customers and 6.90% for senior citizens. The bank's special 444-day Amrit Vrishti scheme continues to offer 6.45% to general depositors and 6.95% to senior citizens, currently providing the highest return among SBI's retail deposit products.
The bank's special 444-day Amrit Vrishti scheme offers 6.45% to general depositors and 6.95% to senior citizens, currently providing the highest return among SBI's retail deposit products. SBI also offers dedicated schemes for specific customer segments, including SBI Patrons for customers aged 80 years and above, and SBI WeCare for eligible long-term deposits for senior citizens, providing additional premiums over regular deposits. The bank's current rate structure shows 6.80% for 1-year deposits and 7.00% for 2-year deposits for general customers, with an additional 0.50% premium for senior citizens across all tenures.
According to SBI's official website, the rate of interest on recurring deposits is the same as that on term deposits for both public and senior citizens. The minimum deposit period for recurring deposits is 12 months, while the maximum is 120 months. The minimum deposit amount is ₹100 per month and in multiples of ₹10 thereafter. SBI offers similar rates of interest on both fixed and recurring deposits. The bank's current rate structure shows 6.80% for 1-year deposits and 7.00% for 2-year deposits for general customers, with an additional 0.50% premium for senior citizens across all tenures. A penalty is charged on delayed payment of installments, and in case six consecutive installments are not received, the account shall be prematurely closed.
Opening a fixed deposit online has become a seamless process that can be completed in just a few minutes. According to Mint, the process involves 5 key steps: logging into internet or mobile banking, selecting the 'open fixed deposit' option, entering complete investment details including deposit amount, tenure, and payout preference, reviewing interest earnings and maturity amounts, and confirming the FD creation. The fixed deposit is created on an instant basis, with receipts available digitally and sent to the registered mobile number for record keeping. This digital transformation has made FD booking faster, smoother, and more accessible for investors seeking predictable returns in the current geopolitical environment where wealth protection is paramount.
