Fixed deposit interest rates in SBI
SBI (State bank of India) is the biggest bank public sector bank in India.
It provides benchmarks to all other banks in India. Other banks generally follow the rates fixed and revised by SBI from time to time.SBI fixed deposit scheme is a simple and good option to earn higher interest rates on your money lying idle in savings bank account. SBI fixed deposits are highly flexible and one can opt for a fixed deposit period from 15 days to 10 years. Fixed deposit interest rates vary with the time period and can be opened with a nominal minimum amount of Rs. 1000 only to start with. Fixed deposit interest rates of SBI are revised from time to time and the following are the latest term deposit / fixed deposit interest rates of SBI.
The rates were revised 9th November 2009. SBI fixed deposit interest rates above RS 1 crore were revised on 27th March 2010.
The revised fixed deposit interest rates of SBI are applicable on all fresh deposits and renewals of maturing deposits. All existing fixed deposits will earn the same rate of interest as fixed on purchase date.
| Interest rates below Rs 1 Crore | |||
| S. No | Fixed deposit tenure | Interest rate % per annum | |
| 1 | 15 days to 45 days | 2.50 | |
| 2 | 46 days to 90 days | 3.50 | |
| 3 | 91 days to 180 days | 4.75 | |
| 4 | 181 days to less than 1 year | 5.25 | |
| 5 | 1 year to less than 2 years | 6.00 | |
| 6 | 2 year to less than 3 years | 6.50 | |
| 7 | 3 year to less than 5 years | 6.50 | |
| 8 | 5 years to less than 8 years | 7.25 | |
| 9 | 8 years and up to 10 years | 7.50 | |
| Interest rates above Rs 1 Crore | |||
| 1 | 7 days to 14 days | 1.50 | |
| 2 | 15 days to 30 days | 2.00 | |
| 3 | 31 days to 45days | 2.25 | |
| 4 | 46 days to 90 days | 3.00 | |
| 5 | 91 days to 180 days | 3.50 | |
| 6 | 181 days to 270 days | 4.50 | |
| 7 | 271 days to less than 1 year | 5.25 | |
| 8 | 1 year and above | 6.00 | |
Premature closure of Term Deposits
If you plan to cancel the fixed deposit prematurely then interest paid on premature withdrawal of term deposits will be 1.00% below the rate applicable for the period deposit has remained with SBI
Fixed deposit interest rates in SBI for senior citizens
Resident Indian senior citizens (above 60 years of age) get 0.5 % higher returns for fixed deposit period of one year and above.
- Related Articles
- Recurring Bank Deposit
- Recurring Bank Deposit Recurring Deposits in banks are one of the instruments of accumulating a particular amount periodically, to help us during various occasions of unexpected financial burden. It is a good saving instrument for ordinary middle class, which has a fixed amount of revenue as its monthly income. It is also suitable for small...
- Form 15G and 15H for fixed deposits
- Form 15G and Form 15H are used for averting / reconciling the TDS deduction on interest earned during the financial year on fixed deposits in Banks. Below is the explanation as to how it works. Continue reading Form 15G and 15H for fixed deposits...
- Senior Citizen Deposit Schemes
- There are many schemes available for investment and reaping benefits for senior citizens. The government of India has given many schemes that very beneficial for senior citizens. As a person attains the age considered to be enough for being a senior citizen, his/her source of income comes to an end as they get retired from...
- Tax saver FD in SBI
- Tax saver FD in SBI Tax saver FD in SBI is another option of tax saving about which most of us might be unaware. Tax savings fixed deposits are the easiest tax savings vehicles under section 80C of the income tax act 1961. This is the same section where we take exemption for life insurance...
- Rates of income tax for assessment year 2012-13
- Rates of income tax for assessment year 2012-13 The following are the income tax rates for assessment year 2012-13. These will be applicable for all financial transactions done in the financially year 2011-12 Rates of income tax for assessment year 2012-13 Rates of income tax for assessment year 2012-13 for Resident Senior Citizens above 60...
- Auto Sweep Facility in ICICI
- Auto Sweep Facility in ICICI Retail banking inIndiahas undergone a radical change in the last two decades, and the change is discernible from operations to products. A classic example of such changes is the introduction of auto sweep facility in many banks. This is a scheme by which one can earn a good amount from...
- Auto Sweep Facility in HDFC Bank
- Auto Sweep Facility in HDFC Bank Auto Sweep facility is the inter-linking between two accounts, one is the savings account or current account and the other a fixed deposit account. The main aim of this facility is to maintain a threshold limit, such that any amount that is above this value gets a higher interest...
What is deduction of pre maturity FD in SBI. Kindly let me know the cancellation charges for this.
how we can calculate the interest% on fixed deposits..
pls let me know..
in SBI presently that is offered 9.25 % interest on 10 years term deposit then
how much amount i will receive on maturity for Rs.10,000/-.
please reply.
in SBI presently that is offered 9.25 % interest on 10 years term deposit then
how much amount i will receive on maturity for Rs.50,000/-.