Recurring Deposit - Personal Banking
RECURRING DEPOSIT
Recurring Deposit scheme provides an opportunity to build up savings through regular monthly deposit of fixed sum over a period and have sufficient funds to achieve specific financial goals at the end of specific period.
Features
- Period of deposit Minimum - 12 months, Maximum - 120 months
- Available at all branches
- Minimum deposit amount is Rs. 100/- per month (thereafter in multiples of Rs. 10/-)
- Penalty is charged on delayed payment of instalments.
- In case six consecutive instalments are not received, the account shall prematurely be closed, and balance paid to the account holder.
- Customer while opening RD or anytime during the period of deposits should give maturity instructions as detailed below:
- Credit Proceeds to Savings Bank / Current Account
- Issue IOI
- Issue STDR
Terms and Condition
Bank also sends intimation to customers by way of SMS calling for instructions on disposal of maturity proceeds.
- Nomination available in favour of individual only.
- Universal Passbook is issued.
- Loan/OD against deposit is available.
- Transferability allowed among our branches
- Rate of Interest as applicable to Term Deposits for Public and Senior Citizens.
Last Updated On : Wednesday, 17-08-2022
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
Deposits Landing Page
SBI Green Rupee Term Deposit (SGRTD)
SBI ‘Sarvottam’ (Non-Callable) Term Deposit
Motor Accident Claims Annuity (Term) Deposit Account (MACAD)
Criteria
- Features
- Eligibility
- Terms and Conditions
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above