How to open fixed deposit in SBI online?


Hi guys, in this article we are discussing on the topic how to open fixed deposit in SBI online. If you are a SBI customer and you want to open a fixed deposit in SBI you can open it using internet banking, mobile banking etc.


If you open a SBI fixed deposit online you can close it as you want. You need not visit branch to open or close it. But for a premature closer you need to pay a penalty of 1% of the interest paid to you. So if you close your fixed deposit in an emergency you will get 1% less interest then Bank promise.


Many of SBI customers wanted to open a fixed deposit through SBI internet banking. But they don’t know the process. Therefore we are describing the whole process.


How to open fixed deposit in SBI online:

Before going to open a fixed deposit in SBI online you need to register in SBI internet banking first. After registered to SBI internet banking follow the following steps.


STEP 1: Go to SBI internet banking login page and login to your account using your internet banking user Id, password and the OTP received on your registered mobile number.


STEP 2: Now you are logged in to your account. On the upper bar of the page you will see an option ‘deposit and investment’. Click on this option.


STEP 3: In this step you will see some other options under the ‘Deposit and Investment’. Here you will find an option ‘Deposit’. Click on this option.

STEP 4: As you click on ‘Deposit’ on the above step you will redirected to another page here you will find the first option as ‘Fixed Deposit (e-TDR/e-STDR). Click on this option.


STEP 5: An OTP will be sent to your registered mobile number. Enter the OTP on this page and click on ‘submit’.


STEP 6: Again you are redirected to Fixed Deposit page. In this page you will see the fixed deposit option will be selected automatically. Click on the ‘Proceed’ tab under the options.


STEP 7: In this step you are asked to enter the amount to be fixed. Select the term deposit option. You will see two term deposit option one is ‘STDR-cumulative interest paid at maturity’ and the other is   ‘TDR- Non cumulative interest paid at selected intervals’.


If you select the STDR option then the interest will be paid at the maturity and the interest will be computed cumulatively. If you choose TDR then you will be asked to select interest paid interval and the interest will be paid at the selected interval.


After selecting the term deposit option you are asked to select the tenure of the fixed deposit. Here you can select the tenure in three ways days, year month days and selecting maturity date. Select any one of them and enter the tenure you want to fix.


Then choose the maturity instructions. Here you will see three maturity instructions. One is Auto renewal principal and interest. The second is Auto renewal principal and repay interest and the last is Repay principal and interest. Here chose any one of the maturity instruction as you want.


Finally accept the terms and conditions and click on ‘Submit’.


STEP 8: The details you have selected on the above page will be displayed once again. You need to check the details thoroughly select the nomination question’s answer as YES or NO. Select YES if you want the nominee as on the savings bank account otherwise select NO. Finally click on ‘Confirm’.


STEP 9: Your fixed deposit will be opened and the reference Id will be displayed on the screen. Note this reference Id for future communication. Your fixed deposit account will be displayed on the account summary page of your internet banking. From here you can check your account balance and the interest paid etc.


This is the process how to open a fixed deposit in SBI online through internet banking. You can watch this process on the following video. Watch the video for better understand the process. 


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