At the conclusion of every fiscal year, you can get the interest certificate via online banking to see how much interest you have made on your fixed deposits (FDs) and savings accounts. The interest you earned in each of your FDs and savings accounts over the prevailing fiscal year can be found in the interest certificate after downloading it from your respective bank's net banking portal. Checking multiple pages of your account statement only to calculate how much interest you have earned will be time-taking.
As a result, your bank's interest certificate will considerably reduce your time to know how much interest you have earned. So if you are a customer of the State Bank of India (SBI) then you must need to know that the lender has recently informed its customers through its Twitter handle that they can download the Deposit Interest Certificate in four simple steps. But before following the steps, if you are a new customer of SBI, then let me first inform you how to open a fixed deposit account or savings account in SBI online.
Steps to open an SBI fixed deposit account online
SBI savings account holders can open a fixed deposit account online easily from the convenience of their home or workplace. By following the below-listed steps, you can open a fixed deposit account in SBI online:
- Visit SBI net banking portal and sign in to your account using the required credentials.
- Now click on 'e-TDR/e-STDR (FD)' under the 'Fixed Deposit' option and click on 'Proceed'.
- Here TDS is a term deposit account whereas STDR is a special term deposit account. Now you need to select the type of account you need to open and click on 'Proceed'
- Now select your savings account from which you want to get the money debited for your fixed deposit account.
- Now enter the deposit amount under the 'Amount' column and select the tenure of your deposit.
- Now for your term deposit account, select the maturity instruction and accept the terms and conditions.
- Your fixed deposit account will all the details will now appear on the screen of your device.
- Click on 'Ok' and keep the transaction number for future reference.
SBI FD Interest Rates
SBI FDs with maturities ranging from 7 to 45 days will yield 2.9 per cent interest starting from January 8, 2021. Term deposits with terms ranging from 46 to 179 days yield 3.9 per cent. FDs with maturity ranging from 180 days to less than 1 year will yield an interest rate of 4.4 per cent. Deposits maturing in one year to less than two years earn 5%. FDs maturing in two to three years will earn 5.1 per cent. FDs maturing in 3 to less than 5 years provide 5.3 per cent, while term deposits maturing in 5 to 10 years provide 5.4 per cent.
|Tenure||Regular FD Rates In %||Senior Citizen FD Rates In %|
|7 days to 45 days||2.9||3.4|
|46 days to 179 days||3.9||4.4|
|180 days to 210 days||4.4||4.9|
|211 days to less than 1 year||4.4||4.9|
|1 year to less than 2 year||5||5.5|
|2 years to less than 3 years||5.1||5.6|
|3 years to less than 5 years||5.3||5.8|
|5 years and up to 10 years||5.4||6.2|
How to open an SBI savings account online?
To open a savings bank account or an insta savings account with SBI, the individual must first install the YONO app and create an account. In addition, only a PAN and an Aadhaar number are necessary to establish an instant digital savings bank account. Follow the steps below to open an 'Insta Saving Bank Account' with SBI.
- Open the SBI YONO App on your mobile phone and tap on SBI Insta Savings Bank Account.
- Now enter your PAN and Aadhaar details and click on 'Submit' to generate an OTP.
- You will now get a one time password on your registered mobile number.
- Enter the received OTP in the required space and tap on 'Submit'
- Once the process is authorized, your savings account will be opened instantly.
SBI Savings Account Interest Rates
The relevant interest rates on savings bank deposits as of May 31, 2020 are listed below.
|Deposit Slabs||Interest Rate|
|Deposit accounts with balances up to Rs. 1 lakh||2.70% p.a.|
|Deposit accounts with balances above Rs. 1 lakh||2.70% p.a. for balance up to Rs. 1 lakh, 2.70% p.a. for balance above Rs. 1 lakh|
Steps to download deposit interest certificate online
In order to get a deposit interest certificate, SBI stated in a tweet that "Log in to Online SBI and get your Deposit Interest Certificate. Follow 4 simple steps, and you are done." So, if you are a customer of SBI, follow the steps listed below to download your deposit interest certificate online:
- Visit the SBI internet banking portal and sign in to your account
- Now click on the 'e-Services' option and select 'My Certificates' from the list of services.
- Now select the type of interest certificate you want to download and click on 'Proceed'
- Once you are done, the interest certificate will appear on your device screen. You can download the certificate in PDF format by clicking on the 'Download Interest certificate' option.
Log in to Online SBI and get your Deposit Interest Certificate. Follow 4 simple steps, and you are done! Visit now:- https://t.co/8O47eWN4yG#SBIAapkeSaath #StayStrongIndia #DepositInterestCertificate #OnlineSBI pic.twitter.com/t0L5KdY2WF— State Bank of India (@TheOfficialSBI) June 23, 2021