Monday, November 25, 2013

SBI Fixed Deposit Interest Rates

Following are the fixed deposit interest rates for resident and non-resident ordinary (NRO) accounts as of 24 November, 2013:

7 days to 179 days: 7.50%
180 days to 210 days: 7.00%
211 days to less than 1 year: 7.50%
1 year up to 10 years: 9.00%

Above Rs 1 crore, following are the interest rates for resident and NRO accounts:

7 days to 60 days: 6.50%
61 days to less than 1 year: 7.75%
1 year to less than 2 years: 8.25%
1 year to less than 10 years: 8.50%

Below Rs 1 crore, following are the interest rates for resident senior citizens:

7 days to 179 days: 7.50%
180 days to 210 days: 7.00%
211 days to less than 1 year: 7.50%
1 year up to 10 years: 9.25%

Above Rs 1 crore, following are the interest rates for resident senior citizens:

7 days to 60 days: 6.75%
61 days to less than 1 year: 8.00%
1 year to less than 2 years: 8.50%
1 year to less than 10 years: 8.75%

Premature payment of term deposits:
Interest to be charged on premature withdrawal of term deposits at 0.50% below the rate applicable for the period deposit has remained with the Bank or 0.50% below the contracted rate, whichever is lower, for tenors above 90 days. Penalty for premature withdrawal of term deposits has been waived for deposits of tenors upto 90 days. However, no interest shall be paid on term deposits that have remained with the Bank for less than 7 days.

SBI savings bank interest rates:
Deposits in SBI savings account get an interest rate of 4%.

Comparison of fixed deposit interest rates with other banks can be checked here!


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