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SBI Fixed Deposit Rates

SBI Fixed Deposit Rates are very attractive for the investors and the bank offers different rates for different fixed deposit scheme. Opening an SBI fixed deposit account is a wise option if you are looking to earn higher income on your surplus funds. You can open a fixed deposit account at SBI bank with just a minimum amount of Rs. 1000 and get flexibility in period of fixed deposit ranging from 15 days to 10 years. Moreover, you can obtain a loan or an overdraft against your fixed deposit term when you need urgent cash. State Bank of India offers loans and overdraft of upto 90% of the deposit amount.

SBI Bank Fixed Deposit Interest Rate

Interest rate of various State Bank of India fixed deposit scheme has declined from its peak deposit rates. SBI has announced cutoff of upto 50 basis points in term deposit rates of several schemes. The current term deposit rates on different maturities are;

Tenure Interest Rate
15 days - 45 days 4%
46 days - 90 days 5%
91 days - 180 days 6.25%
181 days - less than 1 years 7%
1 year - les than 2 years 7.75%
2 years - less than 1000 days 8%
1000 days 8.25%
1001 - less than 3 years
3 years - less than 5 years 8%
5 years - less than 8 years 8.25%/td>

SBI allows premature withdrawal from your term deposits at a minimum rate, which is 1% below the rate applied to your term deposit scheme. You can further transfer your term deposits within the large network of the bank without costing anything. The bank has special rates for senior citizens and NRI. Term deposits are made available by the bank at all its branches and you can also get fast and easy access for information 24/7 at SBI website.

As an investor, you are not required to keep track for the maturity of your term deposits as they will be automatically renewed thereby allowing you to earn interest benefits. You are also offered with the flexibility to convert your term deposit to special term deposit or vice versa. SBI Recurring deposit scheme is another fixed deposit scheme that can help you save some funds each month so that you will have sufficient funds in times of urgent needs. Low monthly deposit amount, wide choice in term of deposit are some of the best features of this recurring deposit scheme. Application form for fixed deposit schemes is available online at the bank's website. For further details on fixed deposit calculator, deposit rules and tax benefit, logon to the website of SBI.
SBI Bank offers safe and secure savings and deposit schemes for the hard earned money of the customers. Know the features of the different schemes from the bank's website.



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