SBI Interest Rates on FD, Apr 2017
Fixed Deposit Interest Rate of SBI
|Tenure||General Rates||Senior Citizen Rates|
|7 days to 45 days||5.50%||6.00%|
|46 days to 179 days||6.50%||7.00%|
|180 days to 210 days||6.50%||7.00%|
|211 days to 364 days||6.50%||7.00%|
|456 days to 1 year 364 days||6.75%||7.25%|
|1 year to 455 days||6.90%||7.40%|
|2 years to 2 years 364 days||6.75%||7.25%|
|3 years to 10 years||6.50%||7.00%|
SBI FD Interest Rates
- SBI offers FD interest rates upto 7.00% per annum.
- Interest on deposits with SBI is typically compounded quarterly.
- SBI accepts deposits starting at Rs. 1000 for various tenures.
- For senior citizens (age more than 60 years), SBI offers higher interest rate over and above rates mentioned below.
SBI Fixed Deposit – Premature Withdrawl
- You may break you FD and withdrawal your money subject to minimum moratorium requirements.
- However, in case of premature withdrawal, SBI pays 1% lower ROI than that applicable for actual duration of deposit on deposits upto Rs. 15 lakhs and pays applicable ROI for actual duration of deposit on deposits greater than Rs. 15 lakhs .
Loan against SBI FD
- SBI offers loan upto 90% against its own deposit. Note that you cannot obtain a loan against
FD from another bank.
- Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.
SBI Interest Rates in your city. How and where to apply?
- Keep your KYC documents - PAN card, address proof and photo ready.
- In case you already hold an account with SBI, you don’t need to submit KYC documents again.
- To know more or apply, contact any of the branches of SBI in your city
State Bank of India (SBI) is India's largest lender and has its headquarters in Mumbai, Maharashtra, and majority owned by the Government of India. In 1955 RBI took over Imperial Bank with a majority stake and renamed it to SBI. SBI has assets worth Rs 2,395,982 crore showing a growth of 12.36% over last year. SBI has more than 17,000 branches in India including 190 in other countries. SBI commands a market share of more than 20% of total banking sector deposits and loans in India. SBI also has five associate banks namely State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Patiala, State Bank of Mysore and State Bank of Travancore which again have a fairly large asset base. Further, SBI also has various financial sector subsidiaries involved in capital markets, funds management, life and non-life insurance. SBI has continuously evolved its internal capabilities in response to changing customer preferences and technological trends and continues to be the most formidable competitor for every bank in the country. SBI has won many awards over its long history and was awarded ‘Best Customer Management Initiative’ award by IBA Banking Awards in 2014. It has been ranked 303 in Forbes 500 companies in 2014 and is the only Indian bank on the list.