SBI Interest Rates on FD, Feb 2017

Fixed Deposit Interest Rate of SBI

Last Updated 24th Feb 2017
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 6.75% 7.25%
211 days to 364 days 7.00% 7.50%
1 year to 455 days 6.90% 7.40%
456 days to 1 year 364 days 6.95% 7.45%
2 years to 2 years 364 days 6.85% 7.35%
3 years to 4 years 364 days 6.50% 7.00%
5 years to 10 years 6.50% 7.00%
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  • 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.
Calculate SBI
FD Maturity Amount

SBI Fixed Deposit – Premature Withdrawl

  • You may break you FD and withdraw 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 - Find SBI Branches here

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  • SBI FD rates with other banks in India

About SBI

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.
News - Feb 2017
25th Feb 17 SBI merger with five associate banks to happen on 1st April, 2017
State Bank of India will merge with its five associate banks on 1st April, 2017. The assets of the five associate banks including State Bank of Travancore, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank of Patiala and State Bank of Hyderabad will be transferred to State Bank of India on 1st April. After this merger, SBI with an asset size of 550 billion dollars, will become a global sized bank and compete with the largest bank in the world.
21st Feb 17 State Bank of Travancore plans to raise Rs. 600 crore via Basel Compliment bonds
State Bank of Travancore, an associate bank of SBI, plans to raise funds worth Rs. 600 crore via Basel Compliment bonds on a private placement basis. The bank plans to raise the funds after its proposed merger with its parent bank State Bank of India.
16th Feb 17 SBI takes lead of blockchain to use it to prevent fraud
State Bank of India has taken the lead in bringing lenders and tech companies for using block chain technology to share information between the banks which will eventually help in preventing fraud and tackle bad loans. The initiative is taken in partnership with IBM, KPMG, Microsoft and 10 commercial banks. Blockchain, technology behind cyber currency Bitcoin, runs on a concept of centralised registry that can be accessed by all members. The bank proposes to use the technology for trading finance and loan documents at initial stage and will gradually expand to other operations.
16th Feb 17 SBI gets approval for merger with 5 associate banks
State Bank of India got final approval from Union Cabinet on the merger with its five associate banks including State Bank of Hyderabad, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank of Patiala and State Bank of Tranvcore. The merger proposal was announced in May 2016 and was scheduled for March 2017.
11th Feb 17 SBI registers 134 percent growth in its net profit in third quarter of FY17
State Bank of India has reported a growth of 134 percent in its net profit at Rs. 2,610 crore during third quarter of FY17 as compared to Rs. 1,115 crore for the corresponding period a year ago. The bank also registered a decent growth of 7.6 percent in its net interest income reported at Rs. 14,751 crore during the quarter. However, asset quality of the bank remained stable during the quarter with the share of gross non-performing assets at 7.23 percent on year on year basis as compared to 7.14 percent earlier.
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