SBI FD Rates
|Best Interest Rate for 6 Months < 1 Year||6.40%|
|Best Interest Rate for 1 Year < 2 Years||6.80%|
|Best Interest Rate for 2 Years < 3 Years||6.80%|
|Best Interest Rate for 3 Years < 4 Years||6.80%|
|Best Interest Rate for 4 Years < 5 Years||6.80%|
|Best Interest Rate for 5 Years and Above||6.85%|
SBI TERM DEPOSIT
Park your money in an SBI Term Deposit and avail of features like guaranteed returns, choice of interest payout, liquidity through OD or premature withdrawal.
Invest through OnlineSBI or by visiting SBI branch.
Minimum Deposit - Rs.1000/-
Maximum Deposit - No Limit
Payment of Interest on SBI Fixed Deposits - Payment of interest ob FD's is done at Monthly/Quarterly/Calendar quarter basis as per your requirement.Payment of Monthly interest will be at discounted rate. Interest will be paid at the contracted rate irrespective of change in the rates thereafter. Senior Citizens get 0.25% extra interest rate for amount above Rs 10,000/-
Tenure - 7 days to 10 years.
Premature payment -Available subject to penalty: For retail Term Deposits up to Rs 5.00 lacs, the prepayment penalty will be ‘NIL' provided the deposits have remained with the bank for at least 7 days. For Term Deposits above Rs 5.00 lacs but less than Rs 1 crore, the prepayment penalty will 1% for all tenors.
Loan facility - Loans / OD upto 90% of the Principal deposit.
Nomination facility - Available
TDS - TDS at prevalent rate is deducted at source if Form 15G/15H not submitted.
Others Conditions - Flexibility to convert Term Deposit (regular interest payout) to STDR (cumulative interest payout) and vice versa. Automatic renewals will take place only where there is no maturity instructions recorded at the time of opening the Term Deposit account or any time before maturity of deposit.
Most important Terms and Conditions - Premature penalty for Retail Term Deposits up to Rs 5.00 lacs will be ‘NIL' provided the deposits have remained with the bank for at least 7 days. For term deposit above Rs 5.00 lacs but less than Rs 1 crore , the prepayment penalty will 1% for all tenors (0.50% at present). Interest can be paid on monthly intervals on discounted rate. Interest can also be paid at Calendar quarter basis. TDS at prevalent Income tax rate is deducted if Form 15G/15H not submitted. Auto renewal is exercised if maturity.