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SBI FD and RD interest rates for October 2026: Latest rates, highest returns and RBI MPC impact
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4 min read | Updated on October 07, 2026, 10:32 IST
SUMMARY
SBI FD and RD interest rates for October 2026: Check the latest SBI FD rates, senior citizen rates, highest returns and what the RBI MPC decision means for deposit investors.
If the RBI raises the repo rate, banks could face greater pressure to offer competitive deposit rates as they seek to attract funds.
State Bank of India (SBI), the country's largest lender, offers a range of fixed deposit (FD) and recurring deposit (RD) options for investors looking for stable and predictable returns. SBI's retail domestic term deposit rates vary depending on the tenure, while senior citizens receive an additional interest-rate benefit on eligible deposits.
For retail term deposits below ₹3 crore, SBI currently offers interest rates ranging from 3.05% to 6.40% for general customers across standard tenures. Senior citizens can earn higher rates, with the rate going up to 7.05% under the SBI WeCare deposit scheme for eligible five- to 10-year deposits.
Among the regular FD tenures, deposits with maturities of two years to less than three years offer one of the highest rates at 6.40% for general customers and 6.90% for senior citizens.
SBI's special 444-day Amrit Vrishti deposit offers 6.60% to general customers, while eligible senior citizens can earn an additional benefit over the applicable rate.
| Tenure / Scheme | General Customers | Senior Citizens |
|---|---|---|
| 7 days to 45 days | 3.05% | 3.55% |
| 46 days to 179 days | 4.90% | 5.40% |
| 180 days to 210 days | 5.65% | 6.15% |
| 211 days to less than 1 year | 5.90% | 6.40% |
| 1 year to less than 2 years | 6.25% | 6.75% |
| 2 years to less than 3 years | 6.45% | 6.95% |
| 3 years to less than 5 years | 6.30% | 6.80% |
| 5 years to 10 years | 6.05% | 7.05%* |
| Amrit Vrishti (444 days) | 6.60% | Higher rate applicable for eligible senior citizens |
SBI recurring deposit rates
SBI's recurring deposit interest rates are linked to the applicable term-deposit rates for the public and senior citizens. This means the interest rate on an RD depends on the applicable tenure and customer category.
The minimum period for an SBI recurring deposit is 12 months, while the maximum period is 120 months. The minimum monthly instalment is ₹100, with subsequent instalments allowed in multiples of ₹10.
For investors who prefer to build their savings gradually through monthly contributions rather than investing a lump sum, an RD can provide a disciplined way to accumulate money over a fixed period.
Which SBI FD offers the highest return?
For general customers, SBI's special deposit schemes can offer higher returns than standard FD tenures. The 444-day Amrit Vrishti scheme currently offers 6.60% to general customers.
For eligible senior citizens, SBI WeCare offers a rate of 7.05% on five- to 10-year deposits, making it one of the highest advertised returns available under SBI's retail deposit offerings.
Among standard FD tenures, the two-year to less-than-three-year category offers 6.45% to general customers and 6.95% to senior citizens.
RBI MPC October 2026: What FD and RD investors should know
For SBI FD and RD investors, the repo rate hike does not automatically mean that deposit rates will increase by the same amount. SBI will need to separately revise its deposit rates. Existing FDs generally continue to earn the rate applicable when the deposit was booked, while any benefit from higher rates would apply to new deposits or renewals if SBI raises its rates.
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