What is the Minimum Amount for FD in SBI?
Are you planning about opening a fixed deposit in SBI? Then I am sure you must be wondering what is the minimum amount for fd in sbi. When I went to open my fixed deposit account, I was told that the minimum amount you need to start with is just ₹1,000. You don’t need lakhs of rupees to begin investing. SBI has kept it super accessible so that even first-time investors or students can get started with small amounts.
You can open an FD for as low as ₹1,000 and increase in multiples of ₹100. So, whether you want to start with ₹1,000, ₹5,000, or ₹10,000, it’s completely up to you and your savings.
A lower investment amount actually works in your favour if you’re planning to test the waters or want to create multiple small FDs instead of one large one. For example, instead of putting ₹50,000 in one FD, you can create five FDs of ₹10,000 each. This gives you more flexibility if you need money urgently, you can break just one and keep the others untouched.
Also, different SBI FD schemes may have slightly different requirements, but for most regular fixed deposits, ₹1,000 is the standard minimum.