How to open FD in SBI online at onlinesbi.com or sbi.co.in

SBI FD Online: If you have money and want to invest for a certain period of time then you may opt for a fixed deposit or FD. FD is a financial instrument in which a person can invest their money for a certain fixed duration of time. Fixed deposit is also called term deposit. Bank customers can open a fixed deposit with a bank for the various duration as they wish. The minimum tenure for a term deposit is 7 days and the maximum is 10 years at SBI, according to the information available on the bank's website. 

How to open an FD with SBI online? 

You can open an FD with SBI easily if you use internet banking and at least one transaction account mapped to the username. Otherwise, you can also open an FD through the bank's websites onlinesbi.com or sbi.co.in. You may follow these steps to open an FD with SBI:

1. You have to Login to your SBI online banking with your login id and password.

2. You have to select "e-fixed deposit" tab from the top menu on the home page.

3. There will be fixed deposits, fixed deposits under income tax savings scheme and multi-option deposits options. You may select the fixed deposit option.

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4. You have to put the FD amount you want to keep. The bank provides higher interest rates to the senior citizens. If you fall in that category, you have to select that option.

A customer can deposit a minimum of Rs 1000, while there is no maximum limit. Payment of interest can be accrued on the investment at monthly, quarterly or quarterly basis, in accordance with your requirement.

Payment of monthly interest will be at a discounted rate. Interest will be paid at the contracted rate irrespective of change in the rates thereafter.

Senior citizens get 0.25 percent extra interest rate for an amount above Rs 10,000.

The customers can check the current interest rate through "View current interest rate" link in e-TDR/e-STDR request page.