India's largest lender State Bank of India (SBI) offers fixed deposit interest rates ranging from 2.9 percent to 5.4 percent to general customers on maturities of 7 days to 10 years. Senior citizens get interest rates ranging from 3.4 percent to 6.2 percent depending upon the tenure they chose. But you need not visit a branch to open an account. Savings account holders of State Bank of India (SBI) can open a fixed deposit (FD) from anywhere through the bank's online facility.
You can also renew and close the FDs online instantly, once you open an FD online. So, there is no need to go to the bank for any of these purposes.
SBI online FD is very convenient as it is very easy to pay for the term deposit and this can be done directly through net banking.
Here are steps you can follow to open SBI fixed deposit (FD) online:
- Visit SBI net banking by giving personal information.
- From fixed deposit option, click on e-TDR/e-STDR (FD). Now, click on proceed. TDR is a term deposit, while STDR is Special Term Deposit.
- Proceed to choose the type of FD you want to open and click ‘Proceed’.
- If you have multiple bank accounts, then choose the account from which money has to be debited.
- Also, choose the FD principal value and fill the same in the ‘Amount’ column.
- Now, choose the tenure of deposit— days, year/months/days or maturity date.
- Now choose maturity instruction for your term deposit account.
- Click on terms and conditions and then submit.
- Your FD with details (name, nominee etc) will appear on the screen. Click 'OK'.
- Please note the transaction number for future reference. You can take out a print or save as a PDF by clicking on the respective options.
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