The State Bank of India (SBI) has a way for the savings account holder to open a fixed deposit (FD) online. SBI customers who are willing to open this account can use this online facility from anywhere and it is very convenient as they can easily pay for the term deposit through net banking. 


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After a customer opens FD online, he/she can renew and close the deposit online instantly. Also, before opening an account, the customer can take the help of an online FD interest calculator to calculate the maturity value and interest rate on an SBI FD. It can be done online by entering the principal amount, tenure, rate of interest, and type of interest payout option.


Here’s how to open an FD account online:


  • Visit the SBI website and log in to SBI net banking by providing your personal credentials.
  • Then visit the homepage and click on the ‘Deposit Schemes’ option to go to ‘Term Deposits’. Next click on ‘e-fixed deposit’ on the top menu
  • Then make a choice on the type of FD you want to open and click ‘Proceed’
  • Choose the account from which money has to be debited if you have multiple bank accounts.
  • Then choose the FD principal value and fill the same in the ‘Amount’ column. Tick the ‘Senior Citizens’ tab if you are above 60.
  • Choose a cumulative/STDR deposit or a non-cumulative/TDR deposit and choose maturity date or internet payout frequency accordingly.
  • Choose maturity instructions, and accept terms and conditions after reading. Click the ‘Submit’ button to successfully open an FD