Still figuring out where to park your extra money safely—and earn something worthwhile in return?
Well, SBI just gave everyone a reason to look twice.
The bank’s brand-new 210-day Fixed Deposit scheme is now live, offering a limited-time interest rate of 7.2%. And yes—it’s risk-free, backed by SBI, and tailored for those who prefer short-term, secure returns.
What’s Special About SBI’s 210-Day FD?
State Bank of India (SBI), India’s largest public sector bank, has rolled out a short-term FD plan valid for only 210 days. This scheme is ideal for those who don’t want to lock their money away for years but still want a solid return without any market risks.
Key Highlights:
- Duration: 210 days
- Interest Rate: 7.2% per annum (for select customers)
- Scheme Starts: July 14, 2025
- Minimum Deposit: ₹10,000
- Maximum Limit: ₹2 crore
Who Will Benefit Most from This FD?
This scheme isn’t for everyone—but it’s perfect if you:
- Have idle money for the next 6–7 months
- Are a senior citizen looking for better returns without risk
- Want to avoid the stock market or volatile mutual funds
- Are a small business owner or freelancer looking for safe short-term parking for your funds
Real-Life Example:
Mohit Sharma, a small business owner, parked ₹5 lakh in this FD. In just 210 days, he earned ₹20,650 in interest—without losing sleep over stock fluctuations.
Savita Devi, a 62-year-old retired teacher, earned 7.7% interest (extra 0.5% as a senior citizen) on her ₹2 lakh deposit, giving her peace of mind and a little extra income.
SBI FD Rates: How Does This Compare?
| Tenure | Standard Rate | Senior Citizen Rate |
|---|---|---|
| 7 – 45 days | 3.00% | 3.50% |
| 46 – 179 days | 4.75% | 5.25% |
| 180 – 210 days | 7.20% | 7.70% |
| 211 – 365 days | 5.75% | 6.25% |
| 1 year – 2 years | 6.80% | 7.30% |
| 2 years – 3 years | 7.00% | 7.50% |
| Over 5 years | 6.50% | 7.00% |
Note: Interest rates are subject to change. Always check the latest rates before investing.
Why Consider This FD?
Here’s why this short-term FD is worth your attention:
- Quick Returns: Decent earnings in under 7 months
- Government-Backed Security: SBI is one of India’s most trusted banks
- Flexible Access: Available through YONO, NetBanking, or branch
- Premature Withdrawal: Allowed (penalty may apply)
- Digital Convenience: Book it online in minutes
How to Book This FD
If you already bank with SBI, booking this FD is easy:
NetBanking:
- Log in to your SBI NetBanking account
- Go to ‘Fixed Deposit’ section
- Choose “Term Deposit” > Select 210-day option
- Enter the amount and confirm
YONO App:
- Open YONO SBI
- Tap on ‘Deposits’
- Choose ‘Fixed Deposit’
- Select 210-day scheme and proceed
Branch:
Prefer offline? Visit your nearest SBI branch and request the FD form.
My Personal Take
I personally tried a similar short-term FD from SBI last year, and honestly—it felt like the safest parking spot during market uncertainty. I invested ₹1 lakh for about 200 days and earned roughly ₹4,000 post-tax. No stress, no tracking charts—just stable returns.
If you’ve got some money lying idle for a few months, this could be a smart move.
What About Taxes?
- Interest from FD is fully taxable as per your income slab
- If total FD interest exceeds ₹40,000 (₹50,000 for seniors), TDS applies
- Want to avoid TDS? File Form 15G or 15H, if eligible
Any Risks?
While FDs are low-risk, here’s what to watch out for:
- Inflation Impact: If inflation is higher than 7.2%, your real return shrinks
- Premature Withdrawal: You’ll lose part of the interest if you exit early
Frequently Asked Questions
Q1. Is SBI’s 210-day FD available to everyone?
Yes, but it may be for a limited time. Book soon to avoid missing out.
Q2. Can I open this FD online?
Absolutely. Use the SBI YONO app or NetBanking for quick access.
Q3. What extra benefit do senior citizens get?
They get 0.50% extra interest, totaling up to 7.7%.
Q4. What if I break the FD early?
You’ll still get your money, but with a reduced interest rate.
Q5. Is the interest earned from this FD tax-free?
No. Interest is taxable and subject to TDS if it crosses the threshold.