Sbi Term Deposit Rates 9,5/10 1808 votes
SBI FD Online – State Bank of India is India’s largest public sector bank. SBI FD is one of the most preferred, popular, and safe investment options. SBI FD’s are offered with an interest rate of 2.9% to 6.2%. SBI fixed deposit can be purchased offline as well as online. You just required a net banking facility to open SBI fixed deposit online. You can also renew or close fixed deposit online.
SBI Fixed deposit key features
- SBI Fixed deposit interest rate payment is monthly, quarterly, or maturity basis as per your requirement.
- The rate of interest applicable is different based on duration and amount of FD.
- A higher interest rate applies to the senior citizen.
- Deposit tenure is 7 days to 10 years.
- The minimum deposit amount is Rs.1000. No limit on the maximum amount.
- The nomination facility is available on the fixed deposit.
- Premature withdrawal can be done by paying a penalty.
- TDS is applicable if form 15G or 15H is not submitted.
- Automatic renewal is done in case instruction for closure is not given.
Jan 11, 2021 These deposits are known as short term deposits as they have a tenure less than 1 year. For senior citizens, short term SBI FD rates range from 5.00% p.a. Medium-term Deposits: Medium-term fixed deposits have their tenures ranging from more than 1 year to less than 5 years. The interest offered by the bank on these deposits ranges. Unitized break up of term deposit scheme to corporate and institutions. Period of term deposit: Min 15 days to 36 months; Minimum Deposit to be Maintained in Current Account: Rs 50,000/-Amount of deposit: Minimum Rs 50,000/- and subsequent deposits in multiples of Rs 5000/- with a minimum of Rs 25,000/. Operation in the Account. Term Deposits - SBI - Antwerp. Home Corporate Banking Deposits Term Deposits Term Deposits. Deposit Rates upto €/US$ 5.000.000. Fixed Interest Rate (Tenor upto 1 year) TENOR. Financial planners point out that interest rates offered by Muthoot Finance are higher than those offered by banks and corporate deposits. A fixed deposit from SBI pays upto 5.4%, while a corporate deposit from a AAA rated company returns 6- 6.5% every year. SBIC USD Prime Rates Effective - March 17, 2020 3.25%; STUDENT INVESTMENT ACCOUNT RATE AND FEES; Student Investment Account 0.20% p.a; Student GIC Account (1 year non-renewable & non-redeemable GIC) 1.05% p.a.Rates.
SBI FD Options
SBI Term Deposit
SBI Term Deposit is also known as normal fixed deposit. This type of deposit is opened for a specific term. Term deposit offers guaranteed returns, choice of interest payout & liquidity. The tenure of this deposit is from 7 days to 10 days. Interest payout is monthly, quarterly, half-yearly and yearly.
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SBI Tax Saving FD
The fixed deposit that is used for saving tax is known as Tax Saving FD. The rate of interest applicable to SBI Tax Saving FD is same as that of term deposit. The lock-in period for tax saving FD is 5 years. The amount is payable only at the time of maturity.
SBI Recurring Deposit
A recurring deposit is one that allows investor to invest fixed sum over a period of time. The minimum period is 12 months and the maximum period is 120 months. The minimum deposit amount is Rs.100 per month.
SBI FD reinvestment scheme
SBI FD reinvestment scheme is a scheme where interest earned is reinvested in the fixed deposit again to generate appreciation. The maturity duration is 6 months to 10 years. If you are not in need of money for long term you can opt for a reinvestment scheme.
Who can open SBI FD?
The eligibility criteria to open SBI FD is given below.
- The depositor must be an Indian resident
- NRI are also eligible to open NRE fixed deposit
- Partnership firm and HUF
SBI FD Interest Rates 2021
Domestic term deposit interest rate below 2 Cr.
| Tenors | Revised Rates For Public w.e.f. 08.01.2021 | Revised Rates for Senior Citizens w.e.f. 08.01.2021 |
| 7 days to 45 days | 2.90% | 3.40% |
| 46 days to 179 days | 3.90% | 4.40% |
| 180 days to 210 days | 4.40% | 4.90% |
| 211 days to less than 1 year | 4.40% | 4.90% |
| 1 year to less than 2 year | 5.00% | 5.50% |
| 2 years to less than 3 years | 5.10% | 5.60% |
| 3 years to less than 5 years | 5.30% | 5.80% |
| 5 years and up to 10 years | 5.40% | 6.20% |
How to open SBI FD Online?
Sbi Term Deposit Interest Calculator
Step by step method to open SBI FD online is given below.
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- Visit SBI net banking website and login via net banking user name and password.
- Under fixed deposit section you will find e-TDR/e-STDR (FD). Click on that option to proceed. TDR stands for term deposit and STDR stands for Special Term Deposit.
- Select the appropriate option and click on Proceed. You will be able to see multiple bank accounts that you have with SBI.
- You need to select the account from which the money needs to be debited.
- Now enter the fixed deposit principal amount in the amount column.
- Select the tenure of the deposit. You have options to select days, years, months, days or maturity date.
- Now choose the maturity instruction on your tem deposit. Click on the terms and condition and press submit button.
- Your Fixed deposit will be generated with complete details such as name, tenure, principal amount, maturity amount. You need to press OK button.
- You can note down the transaction number for the future reference. The on screen PDF can be downloaded.
SBI FD Interest Rates: FD Scheme, Types, Benefits & Plan ...
You will need documents such as identity proof – Aadhaar card, Passport, PAN card, passport size photos. Bank will also ask for resident proof, age proof and income proof for opening for fixed deposit.