SBI Fixed Deposit Online: How to Open FD via YONO

State Bank of India offers Fixed Deposits (FDs) with flexible tenures from 7 days to 10 years. You can open an SBI FD online in minutes through YONO SBI app or Net Banking without visiting a branch.

Disclaimer: CitizenNest is an independent informational platform and is not affiliated with the State Bank of India or the Government of India.

What is SBI Fixed Deposit?

An SBI Fixed Deposit is a savings instrument where you deposit a lump sum for a fixed tenure at a predetermined interest rate. SBI offers regular FDs, tax-saving FDs (under Section 80C), and special FDs for senior citizens with higher interest rates.

Who is Eligible?

• Any SBI savings or current account holder
• Resident Indians, NRIs (NRE/NRO accounts), and HUFs
• Minors (through guardian's account)
• Minimum deposit: ₹1,000 for regular FD
• No maximum limit for regular FD

Types of SBI Fixed Deposits

SBI FD Interest Rates (General Public)

Rates are indicative and subject to change. Check SBI official rates page for current rates.

Note: Senior citizens (60+) get an additional 0.50% on FDs. Super senior citizens (80+) may get extra benefits. Rates change periodically — always verify on the official SBI website.

Step-by-Step: Open SBI FD Online via YONO App

1. Download and log in to YONO SBI app
2. Tap "Fixed Deposit" from the dashboard or go to Service Requests → Fixed Deposit
3. Select account from which money will be debited
4. Enter FD amount (minimum ₹1,000)
5. Choose tenure — select from days, months, or years
6. Select FD type:
   • Cumulative (interest at maturity)
   • Non-cumulative (monthly/quarterly interest payout)
   • Tax Saver FD (5-year lock-in with 80C benefit)
7. Review interest rate — the app shows the applicable rate
8. Select maturity instructions — auto-renew or credit to account
9. Confirm and authenticate with MPIN or OTP
10. FD created! — you'll receive confirmation via SMS and can view the FD under your account

Step-by-Step: Open SBI FD via Net Banking

1. Log in at onlinesbi.sbi
2. Go to Fixed Deposit → e-Fixed Deposit from the menu
3. Select the debit account and enter FD amount
4. Choose tenure and FD type (cumulative/non-cumulative/tax saver)
5. Select maturity instructions
6. Confirm with transaction password and OTP
7. FD is booked — receipt is available for download

Premature Withdrawal

• Regular FD: Premature withdrawal allowed with a penalty of 0.50%-1.00% reduction in applicable interest rate
• Tax Saver FD: Premature withdrawal NOT allowed before 5 years
• Online closure: You can close FD prematurely via YONO or Net Banking
• Partial withdrawal: Not available — you must break the entire FD (consider opening multiple smaller FDs)

TDS on SBI Fixed Deposit

• TDS is deducted at 10% if annual interest exceeds ₹40,000 (₹50,000 for senior citizens)
• Submit Form 15G (below 60) or Form 15H (senior citizens) to avoid TDS if your total income is below taxable limit
• You can submit Form 15G/15H via YONO or Net Banking at the start of each financial year

Fees

Important Tips

1. Compare tenures carefully — the highest interest rate is usually for 1-2 year tenures, not the longest tenure
2. Use the SBI FD calculator on the official website to estimate your maturity amount before investing
3. Open multiple smaller FDs instead of one large FD — this gives you flexibility to break only what you need
4. Submit Form 15G/15H early — submit at the start of the financial year to prevent unnecessary TDS deduction
5. Senior citizens should always check for special FD schemes that SBI launches periodically with higher rates

Frequently Asked Questions (FAQs)

Q1: What is the minimum amount to open an SBI FD online?

The minimum amount is ₹1,000 for both regular and tax-saving FDs.

Q2: Can I open an SBI FD without Net Banking?

Yes, you can open an FD by visiting any SBI branch. However, online via YONO or Net Banking is the fastest way.

Q3: What happens when my SBI FD matures?

Based on your maturity instructions, it either auto-renews for the same tenure or the amount is credited to your savings account.

Q4: Is SBI Tax Saver FD a good investment?

SBI Tax Saver FD offers guaranteed returns with a tax deduction under Section 80C (up to ₹1.5 lakh). It's a low-risk option compared to ELSS mutual funds. See our income tax guide for more on 80C deductions.

Q5: Can NRIs open SBI Fixed Deposits?

Yes, NRIs can open FDs through NRE and NRO accounts. NRE FD interest is tax-free in India, while NRO FD interest is taxable.

Q6: How do I check my SBI FD details online?

Log in to YONO or Net Banking → go to Accounts → Fixed Deposits. All your active FDs with details will be displayed.

Q7: Can I get a loan against my SBI FD?

Yes, SBI offers overdraft/loan facility against FDs at interest rate of 1% above the FD rate. You can apply via Net Banking or branch.

Last updated: March 2026. Interest rates are approximate and subject to revision. Visit sbi.co.in for current rates.