How many FD can be opened in SBI online?
The first thing that you should ask is, “Can I open multiple FD in SBI?”
The answer to this is YES! The State Bank of India (SBI) allows customers to open as many fixed deposit accounts as they like. They haven’t defined any upper limit on the number of FDs you can hold as long as you deposit a minimum of ₹1,000 per FD. This should clarify how many FD can be opened in SBI.
In fact, if you are thinking on these lines, you are already making a smart financial strategy. Instead of putting a large sum into one deposit, you can split your investment across several FDs with different tenures. This is called FD laddering and it helps you manage liquidity better and be on the positive end to benefit out of changing interest rates over time.
For example, you might open one FD for 1 year, another for 3 years, and a third for 5 years. As each one matures, you can reinvest or use the funds as needed without breaking the others and incurring penalties.
SBI has many FD schemes to choose from, including tax-saving FDs, reinvestment plan, etc., So, the general recommendation would be to go ahead with multiple FDs based on your short-term goals or long-term secure returns.