FPark 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.
Payment of Interest
Payment of interest at Monthly/Quarterly/Half yearly basis as per your requirement.
7 days to 10 years.
For Retail Term Deposit up to Rs 5.00 lacs, the penalty for premature withdrawal will be 0.50% (all tenors).
For Retail Term Deposits above Rs 5.00 lacs but below Rs 1 crore, applicable penalty will be 1% (all tenors). For Bulk Term Deposits above Rs 1 crore and above, applicable penalty will be 1% (all tenors).
The interest shall be 0.50% or 1% below the rate applicable at the time of Deposits for the period Deposit remained with the Bank or 0.50% or 1% below the contracted rate, whichever is lower. However, no interest will be paid on Deposits which remain for a period of less than 7 days.