Home >Money >Personal Finance >SBI fixed deposit: 10 easy steps to open it online

State Bank of India (SBI) gives options to its savings account holder to open a fixed deposit (FD) online. Using the online facility, SBI customers can easily open an FD sitting anywhere. 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. Once you open an FD online, you can renew and close the deposit online instantly. So, there is no need to go to the bank for any of these purposes.

How to open SBI fixed deposit (FD) online

1) Log-in to SBI net banking by providing personal details.

2) From fixed deposit option, click on e-TDR/e-STDR (FD). Now, click on proceed. TDR is term deposit, while STDR is Special Term Deposit.

3) Proceed to choose the type of FD you want to open and click ‘Proceed’.

4) If you have multiple bank accounts, then choose the account from which money has to be debited.

5) Also choose the FD principal value and fill the same in the ‘Amount’ column.

6) Now, choose the tenure of deposit— days, year/months/days or maturity date.

7) Now choose maturity instruction for your term deposit account.

8) Click on terms and conditions and then submit.

9) Your FD with details (name, nominee etc) will appear on the screen. Click 'OK'.

10) 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.

SBI FD interest rates

Currently SBI gives interest rates ranging from 2.9% to 5.4% on FDs maturing in 7 days to 10 years to general customers. Senior citizens get interest rates ranging from 3.4% to 6.2% depending upon the tenure they chose.

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