Term Deposit

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Term Deposit

Park 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.

Invest today through OnlineSBI or by visiting your nearest branch.

Features

  • Minimum period of deposit – 7 days
  • Maximum period of deposit- 10 Years
  • Available at all branches
  • Minimum deposit amount Rs. 1,000/- and thereafter in multiples of Rs. 100/-
  • Maximum deposit amount: No Upper Limit
  • A deposit of Rs. 2 crore and more is classified as bulk deposit
  • Interest on a Term Deposit is payable to the depositor quarterly from the date of issue or at maturity along with principal. But on request from the depositor, interest may be paid at monthly, half-yearly or yearly intervals in case of Term Deposits fixed for a term of twelve months and above.
  • Nomination available in favour of individual only
  • Transferability allowed among our branches
  • TDS is applicable as per Income Tax Rules. Form 15G/15H can be submitted by the depositor for exemption from tax deduction as per IT Rules.

Loan against deposit is allowed with applicable margin as under: 

Residual tenor of Deposit as on Date of availing loan (For Public) Margin
Upto 36 Months 5 %
>36 months & upto 60 months 10%
>60 months 15%

Most important Terms and Conditions

  • Interest can be paid on monthly intervals on discounted rate.
  • Interest can also be paid at Calendar quarter basis.
  • TDS at prevalent Income tax rate is deducted if Form 15G/15H not submitted.

Last Updated On : Friday, 11-02-2022

Interest Rates

5.45%

3 years to less than 5 year

5.50%

5 years to less than 10 years

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