Fixed Deposit

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Fixed 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 branch.

Features

  • Payment of interest at Monthly/Quarterly/Calendar quarter/ half yearly and yearly basis as per your requirement
  • Payment of Monthly interest will be at discounted rate. Interest will be paid at the contracted rate irrespective of change in the rates thereafter.
  • Senior Citizens get 0.50% extra interest rate for amount Rs 10,000/- and above.
  • Tenor: 7 days to 10 years.
  • Minimum Deposit is Rs.1000/-
  • Maximum Deposit: No Limit
  • Loans / OD upto 90% of the Principal deposit. In case of STDR, loans/OD upto 90% of Principal of Deposit + accrued interest. For details click here: Loan Against Time Deposit
  • Nomination facility available for individual only
  • TDS at prevalent rate is deducted at source if Form 15G/15H not submitted.
  • Flexibility to convert Term Deposit (regular interest payout) to STDR (cumulative interest payout) and vice versa.
  • Automatic renewals will take place only where there is no maturity instructions recorded at the time of opening the Term Deposit account or any time before maturity of deposit.
  • Premature Withdrawal is Available. (Details are as under)
  • 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 2 crore, the penalty for premature withdrawal 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.

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.
  • Auto renewal is exercised if maturity instructions are not given.

Interest Rates

5.30%

3 years to less than 5 year

5.40%

5 years to less than 10 years

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