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State Bank Of India (SBI) Fixed Deposits (FD): Interest Rates, Tenure, Details

Fixed deposits (FDs) or term deposits offered by SBI attract interest rates starting from 5.25% on the lowest tenure of seven to 45 days.

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State Bank Of India (SBI) Fixed Deposits (FD): Interest Rates, Tenure, Details

State Bank of India FDs: Interest rates will be paid on monthly/quarterly/calendar quarter basis.

Fixed deposits (FDs) or term deposits offered by State Bank of India (SBI) offer interest rates starting from 5.25 per cent on the lowest tenure of seven-forty five days. The largest lender of the country offers several other facilities on FDs like guaranteed returns and premature withdrawal, SBI said on its website sbi.co.in. "Park your lump sum amount in an SBI Term Deposit and avail of features like guaranteed returns, choice of interest payout, liquidity through OD or premature withdrawal. Invest today through OnlineSBI or by visiting your branch," SBI said.

Details of fixed deposits offered by State Bank Of India:
Customers must make a minimum deposit of Rs.1000 while there is no limit on the maximum deposit.

Payment of Interest on State Bank Of India Fixed deposits:
The interest on SBI FDs will be paid on monthly/quarterly/calendar quarter basis as per the customer's requirement, said SBI.

(Also read: SBI hikes FD interest rates | Check out SBI interest rates on housing loan, car loan, education loan)

The payment of monthly interest will be at discounted rate. Interest will be paid at the contracted rate irrespective of change in the rates thereafter.

(Also read: Fixed Deposits Vs Liquid Funds: Which Is A Better Choice For You?)

Senior Citizens get 0.25 per cent extra interest rate for an amount above Rs 10,000.

State Bank Of India Fixed deposit interest rates

1. Revision in Interest Rates On Retail Domestic Term Deposits (Below Repees One Crore) w.e.f. 01.11.2017

Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees One Crore' have been revised. The revised interest rates are as under :

(All figures in % per annum)

TenorsRevised For Public w.e.f. 01.11.2017Revised for Senior Citizens w.e.f. 01.11.2017
7 days to 45 days
5.25
5.75
46 days to 179 days
6.25
6.75
180 days to 210 days
6.25
6.75
211 days to less than 1 year
6.25
6.75
1 year
6.25
6.75
Above 1 year to 455 days
6.25
6.75
456 days to less than 2 years
6.25
6.75
2 years to less than 3 years
6
6.5
3 years to less than 5 years
6
6.5
5 years and up to 10 years
6
6.5

2. Revision in Interest Rates on Domestic Bulk Term Deposits (Rs.1 Crore To Rs. 10 Crore) w.e.f. 30.01.2018
The revised Interest rates on 'Domestic Bulk Term deposits (Rs.1 Crore To Rs. 10 Crore)' with effect from 30th January, 2018 will be as per the following table:

(Also read: SBI Interest Rates: Savings Bank Account Vs Fixed Deposit Vs NRE Account)

(All figures in % per annum)
TenorsRevised w.e.f 30.01.2018Revised for Senior Citizen w.e.f. 30.01.2018
7 days to 45 days
5.25
5.75
46 days to 179 days
6.25
6.75
180 days to 210 days6.256.75
211 days to less than 1 year
6.25
6.75
1 year to 455 days
6.25
6.75
456 days to less than 2 years
6.25
6.75
2 years to less than 3 years
6
6.5
3 years to less than 5 years
6
6.5
5 years and up to 10 years
6
6.5

3. Revision In Interest Rates On Domestic Bulk Term Deposites (above Rs. 10 Crore) w.e.f. 30.01.2018
The revised Interest rates on 'Domestic Bulk Term deposits (above Rs. 10 Crore) with effect from 30th January, 2018 will be as per the following table:

(Also read: Fixed Deposit (FD) Interest Rates: SBI Vs ICICI Bank Vs HDFC Bank Vs Kotak Mahindra Bank)

(All figures in % per annum)
TenorsRevised w.e.f 30.01.2018Revised for Senior Citizen w.e.f. 30.01.2018
7 days to 45 days
5.25
5.75
46 days to 179 days
6.25
6.75
180 days to 210 days
6.25
6.75
211 days to less than 1 year
6.25
6.75
1 year to 455 days
6.25
6.75
456 days to less than 2 years
6.25
6.75
2 years to less than 3 years
6
6.5
3 years to less than 5 years66.5
5 years and up to 10 years
6
6.5



Tenure
Tenure of SBI FDs range from 7 days to 10 years.

Premature withdrawal w.e.f. 01.04.2017
SBI also offers a premature withdrawal facility on FDs.

For retail term deposits up to Rs 5 lakh, the penalty for premature withdrawal will be 0.50 per cent (all tenors).

(Also read: SBI Fixed Deposit, Savings Bank Account Interest Rates And Other Details)

For retail term deposits above Rs 5 lakh but below Rs 1 crore, applicable penalty will be 1 per cent (all tenors).

The interest shall be 0.50 per cent or 1 per cent below the rate applicable at the time of Deposits for the period deposit remained with SBI or 0.50 per cent or 1 per cent below the contracted rate, whichever is lower. However, no interest will be paid on deposits which remain for a period of less than seven days.

Loan facility
Loans / OD up to 90 per cent of the principal deposit are allowed.

Nomination facility
Nomination facility on SBI FDs is available.

Tax Deducted at Source (TDS)
TDS at the prevalent rate is deducted at source if Form 15G/15H is not submitted.

Other Details
SBI offers the flexibility to convert FDs (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 fixed deposit account or any time before the maturity of deposit.

Most important terms and conditions
Interest can be paid on monthly intervals on discounted rate.

Interest can also be paid at calendar quarter basis.

TDS at the prevalent income tax rate is deducted if Form 15G/15H not submitted.

Auto renewal is exercised if maturity instructions are not given.

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