INSUBCONTINENT EXCLUSIVE:
Fixed deposit (FD) scheme, one of such product offered by bank, provides assured returns
In a SBI FD account, depositor can park lump sum amount and also avail features like choice of interest payout and liquidity through
overdraft (OD) or premature withdrawal, noted the lender on its website- sbi.co.in
interest is payable monthly or quarterly depending on the option selected at the time of account opening
cent extra interest rate for FDs above Rs 10,000, noted SBI on its website.5
following FD interest rates are applicable on deposits below Rs
2 crore with effect from May 9, 2019, according to bank's website:PeriodGeneral public (% p.a.)Senior citizens (% p.a.)7 days to 45
days5.756.2546 days to 179 days6.256.75180 days to 210 days6.356.85211 days to less than 1 year6.46.91 year to less than 2 year77.52 years
to less than 3 years6.757.253 years to less than 5 years6.77.25 years and up to 10 years6.67.16
The maturity value is automatically reinvested in the same deposit scheme if no instruction has been provided beforehand in case of SBI
Interest earned on FD is taxable
At the end of tenure, premature withdrawal is allowed with penalty
For fixed deposits above Rs
Nomination and loan facilities are available in case of a SBI FD account.
