SBI Fixed Deposit Interest Rates for Below Rupees Two Crore
|Tenure||SBI fixed deposit interest rates for Public||SBI fixed deposit interest rates for senior citizens|
|7 days to 45 days||4.50||5.00|
|46 days to 179 days||5.50||6.00|
|180 days to 210 days||5.80||6.30|
|211 days to less than 1 year||5.80||6.30|
|1 year to less than 2 year||6.40||6.75|
|2 years to less than 3 years||6.25||6.75|
|3 years to less than 5 years||6.25||6.75|
|5 years and up to 10 years||6.25||6.75|
SBI Fixed Deposit Interest Rates for Rupees Two Crore & Above
|Tenure||SBI FD Rates for Public||SBI FD Rates for Senior Citizen|
|7 days to 45 days||4.00||4.50|
|46 days to 179 days||4.75||5.25|
|180 days to 210 days||5.25||5.75|
|211 days to less than 1 year||5.25||5.75|
|1 year to less than 2 years||5.25||5.75|
|2 years to less than 3 years||5.25||5.75|
|3 years to less than 5 years||5.25||5.75|
|5 years and upto 10 years||5.25||5.75|
NRE TERM DEPOSITS With effect from 10th November 2019
|Tonure||Below 2 cr.||Rupees 2 Cr & Above|
|1 year less than 2 years||6.25 %||5.25 %|
|2 years to less than 3 years||6.25 %||5.25 %|
|3 years to less than 5 years||6.25 %||5.25 %|
|5 years and upto 10 years||6.25 %||5.25 %|
Advantage of Fixed Deposit
1. Tax Benefits
You can claim deduction up to 1.5 Lakh under section 80C of Income-tax law. Fixed Deposits can help you to save tax on your annual income.
2. Higher rate of Interest
Fixed deposit interest rates are always higher than the regular saving deposit. SBI Saving account interest rate is 3.5% whereas the sbi fixed deposit interest rates are 6.25.
3. Safe Investment
Fixed Deposit is always considered a safe investment option. Unlike other investment like a mutual fund, FD returns you an assured amount on the maturity of your Fixed Deposit.
The FAQ ( Frequently Asked Questions )
1. Minimum and Maximum limit for Fixed Deposit in SBI?
The minimum amount deposit is 5000 INR per year and the maximum deposit amount is 50000 in a financial year.
2. Is there any penalty in default payment?
Yes, he penalty for default payment in the minimum deposit is Rs 50 Per financial year.
3. What is the Minimum and Maximum period of Deposit?
The minimum period of SBI Fixed deposit is 5 years and Maximum is 7 Years.
4. Who is eligible for SBI FD?
Any individual other than minor are eligible for this scheme.
5 . Can Senior Citizen avail additional rate of interest on SBI Flexi Deposit?
Yes, SBI offers an additional rate of Interest to the senior citizen.