In India, Fixed Deposits (FD) are counted among the most popular and safest investment options. Banks periodically revise their FD rates in response to inflation or credit demand and changes in the RBI’s repo rate. India’s largest lender State Bank of India (SBI) continues to offer competitive returns on FDs in June 2026, making them a popular choice for steady income.
The interest rates on retail term deposits below Rs three crore in SBI ranges from 3.05 percent to 6.40 percent for general customers, depending on the tenure. The interest rates on retail term deposits ranges from 3.55 percent to 7.05 percent for senior citizens. Among the regular FD tenures, deposits with 2 years to less than 3 years offer one of the highest rates at 6.40 pecent for general customers and 5 years and up to 10 years offer 7.05 percent for senior citizens.
Under the current rate structure, SBI offers 3.05 percent interest on deposits of 7 days to 45 days to for general citizens and 3.55 percent for senior citizens. The bank is offering 6.25 percent on tenures of 1 year to less than 2 years for general citizens and 6.75 for senior citizens. The rate on deposits of 2 years to less than 3 years for general citizens is 6.40 percent and for senior citizens is 6.90. The rate on deposits of 3 years to less than 5 years for general citizens is 6.30 percent and for senior citizens is 6.80. On deposit of 5 years and up to 10 years the rate for general citizens is 6.05 percent and for senior citizens it is 7.05 percent. The rates include an additional premium of 50 bps under the SBI We-care deposit scheme.
Amrit Vrishti scheme June 2026
SBI’s Amrit Vrishti scheme is a 444-day specialized, short to medium term fixed deposit scheme offering attractive interest rates to general, senior and super senior citizens. It allows investors to lock in high rates for just 444 days which is shorter than the traditional FDs. The PSU bank offers a 6.45 percent interest rate to citizens. Senior and super senior citizens are eligible for additional benefits in rate of interest.
Recurring deposits June 2026
The rate of interest on recurring deposits is the same as that on term deposits for the general public and senior citizens. In the bank, term deposits include both fixed deposits and recurring deposits. The bank offers an additional 0.50 percent to senior citizens on both fixed and recurring deposits. The specific features of recurring deposits are:
— The minimum period of deposit is 12 months and the maximum is 120 months.
— The minimum deposit amount is Rs 100 per month and thereafter in multiples of Rs 10.
— A penalty is charged on the delayed payment of installments.
In case six consecutive installments are not received, the account shall be prematurely closed and the balance will be paid to the account holder.
SBI Patrons June 2026
An additional benefit of 10 bps is applicable for super senior citizens who are aged 80 years and above over the interest rate applicable for senior citizens. However, the scheme does not apply to recurring deposit scheme, green rupee term deposit, tax savings scheme 2006, MODS, capgain scheme and non-callable term deposits.
Green Rupee Term Deposit June 2026
Green Rupee Term Deposit is available for three specific tenors of 1111, 1777 and 2222 days at par with card rates.
