SBI account interest rates: The country's largest bank pays up to 7.5% interest on FDs to senior citizensState Bank of India (SBI) offers a range of maturities for term deposit accounts.
Term deposits, such as fixed deposits (FD) and recurring deposits (RD), are fixed income instruments that yield fixed returns over a pre-defined period of lock-in.
For retail domestic term deposits - or fixed deposits - up to Rs 2 crore, SBI pays interest rates to the tune of 5.75-7 per cent to the general public over a maturity period (also known as lock-in period) of seven days to 10 years, according to the bank's corporate website - sbi.co.in.( SBI interest rate -Why your savings account deposit may fetch lesser return now)SBI interest rate - retail domestic term deposits below Rs 2 croreSBI pays the following interest rates on term deposits up to Rs 2 crore with effect from May 9, 2019, according to the bank's website:TenorsInterest rate for general publicInterest rate for senior citizens7 days to 45 days5.75%6.25%46 days to 179 days6.25%6.75%180 days to 210 days6.35%6.85%211 days to less than 1 year6.4%6.9%1 year to less than 2 year7%7.5%2 years to less than 3 years6.75%7.25%3 years to less than 5 years6.7%7.2%5 years and up to 10 years6.6%7.1%SBI interest rate - domestic bulk term deposits between Rs 2 crore and Rs 10 croreSBI pays the following interest rates on domestic term deposits from Rs 2 crore to Rs 10 crore with effect from February 22, 2019, according to the bank's website:TenorsInterest rate for general publicInterest rate for senior citizens7 days to 45 days5.75%6.25%46 days to 179 days6.25%6.75%180 days to 210 days6.35%6.85%211 days to less than 1 year6.4%6.9%1 year to less than 2 years6.7%7.2%2 years to less than 3 years6.75%7.25%3 years to less than 5 years6.8%7.3%5 years and upto 10 years6.85%7.35%( SBI interest rate - Home loan and processing fee details here)SBI interest rate - domestic bulk term deposits above Rs.
10 croreSBI pays the following interest rates on term deposits above Rs 10 crore with effect from February 22, 2019, according to the bank's website:TenorsInterest rate for general publicInterest rate for senior citizens7 days to 45 days5.75%6.25%46 days to 179 days6.25%6.75%180 days to 210 days6.35%6.85%211 days to less than 1 year6.4%6.9%1 Year to less than 2 year6.7%7.2%2 years to less than 3 years6.75%7.25%3 years to less than 5 years6.8%7.3%5 years and up to 10 years6.85%7.35%( All about SBI interest rate on deposits in different account types)SBI FD interest rates for senior citizensLike many other commercial banks, SBI offers slightly better returns to senior citizen customers compared to the general public.
On fixed deposits up to Rs 2 crore, SBI pays interest rates in the range of 6.25-7.5 per cent to the senior citizens, 50 basis higher compared to the general public across maturities,according to its website.SBI recurring deposit account - interest rates and other key detailsSBI also provides recurring deposit against a minimum monthly deposit of Rs 100.
Any amount in the multiple of Rs 10 is allowed as deposit - in the form of monthly instalments - under the recurring deposit scheme, according to the SBI website.
SBI provides a maturity period ranging from 12 months to 120 months for investment in the recurring deposit scheme.SBI pays same interest rates as applicable to term deposits on recurring deposit accounts, according to the bank's portal.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections.
Election results will be out on May 23.