Retail Domestic term deposits

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Retail Domestic term deposits

Revision in Interest Rates On Retail Domestic term deposits (Below Rs. 2 crore) interest rates revised w.e.f. 22.10.2022

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

(All figures in % per annum)

Tenors Existing Rates for Public w.e.f. 15.10.2022 Revised Rates For Public w.e.f. 22.10.2022 Existing Rates for Senior Citizens w.e.f. 15.10.2022 Revised Rates for Senior Citizens w.e.f. 22.10.2022
7 days to 45 days 3.00 3.00 3.50 3.50
46 days to 179 days 4.00 4.50 4.50 5.00
180 days to 210 days 4.65 5.25 5.15 5.75
211 days to less than 1 year 4.70 5.50 5.20 6.00
1 year to less than 2 year 5.60 6.10 6.10 6.60
2 years to less than 3 years 5.65 6.25 6.15 6.75
3 years to less than 5 years 5.80 6.10 6.30 6.60
5 years and up to 10 years 5.85 6.10 6.65 6.90

A special ‘SBI Wecare’ Deposit for Senior Citizens has been introduced in the Retail TD segment wherein an additional premium of 30 bps over & above the existing 50 bps i.e. 80 bps over card rate for public (as indicated in the above table) will be paid to Senior Citizens on their retail TD for '5 Years and above' tenor only. ‘SBI Wecare’ deposit scheme stands extended up to 31st March 2023.

The interest rate payable to SBI Staff and SBI pensioners will be 1.00 % over and above the applicable rate shown in the above table.

The rates of interest are applicable to fresh deposits and renewals of maturing deposits. The interest rates on ‘SBI Tax Savings Scheme 2006(SBITSS)’ Retail Deposits and NRO deposits shall be aligned as per the rates for domestic retail term deposits. However, NRO deposits of Staff are not eligible for additional 1% interest otherwise applicable to staff domestic retail deposits. These rates of interest are also applicable to domestic term deposits from Cooperative Banks.


Last Updated On : Friday, 11-11-2022

Interest Rates

8.40%* p.a.

w.e.f. 04.10.2022

*T&C Apply.

 

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