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    Fixed Deposits

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    Narendrapratap1
    SBI offers attractive fixed deposit schemes with a minimum deposit of Rs. 1000 and flexible tenures from 15 days to 10 years. Interest rates vary based on the tenure and compounded quarterly. Loan and premature withdrawal facilities are available. Customers can access their FD account details online. Resident Indian nationals need only submit KYC documents to open an FD account. SBI provides higher interest rates for senior citizens and staff.

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    Fixed Deposits

    Uploaded by

    Narendrapratap1
    118 views2 pages
    SBI offers attractive fixed deposit schemes with a minimum deposit of Rs. 1000 and flexible tenures from 15 days to 10 years. Interest rates vary based on the tenure and compounded quarterly. Loan and premature withdrawal facilities are available. Customers can access their FD account details online. Resident Indian nationals need only submit KYC documents to open an FD account. SBI provides higher interest rates for senior citizens and staff.

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    Fixed Deposits or FDs are traditionally, the most popular form of investment among Indians.

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    SBI offers attractive fixed deposit schemes with a minimum deposit of Rs. 1000 and flexible tenures from 15 days to 10 years. Interest rates vary based on the tenure and compounded quarterly. Loan and premature withdrawal facilities are available. Customers can access their FD account details online. Resident Indian nationals need only submit KYC documents to open an FD account. SBI provides higher interest rates for senior citizens and staff.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    118 views2 pages

    Fixed Deposits

    Uploaded by

    Narendrapratap1
    SBI offers attractive fixed deposit schemes with a minimum deposit of Rs. 1000 and flexible tenures from 15 days to 10 years. Interest rates vary based on the tenure and compounded quarterly. Loan and premature withdrawal facilities are available. Customers can access their FD account details online. Resident Indian nationals need only submit KYC documents to open an FD account. SBI provides higher interest rates for senior citizens and staff.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    State Bank of India Fixed Deposit Fixed Deposits or FDs are traditionally, the most popular form of investment

    among Indians. Being the safest investment avenue, FD investments are preferred by all sections of the society and all age groups. But it is important to choose the right bank and the right scheme to avail maximum benefits as well as to fit your individual requirement. Fixed deposit schemes offered by various banks are almost similar, but interest rates vary. State Bank of India, the country's largest public sector bank offers attractive and flexible fixed deposit schemes to its customers. All fixed deposit schemes of SBI come with a flexible tenure range. The minimum balance stipulated to open a fixed deposit account with the state Bank of India is Rs. 1000. The bank offers a flexible tenure ranging from 15 days to as long as 10 years. Loan facility is available on all fixed deposit accounts with loan or overdraft facility available for as high as 90% value of the fixed deposit. The interest rates are compounded quarterly and fixed deposits are renewed automatically. Users can access the details of their fixed deposit accounts online using SBI's net banking module. Eligibility and Documentation: All resident Indian nationals are eligible to open fixed deposit account with SBI. The interested customers need to provide copy of address proof and identity proofs (KYC documents), as mandated by RBI in order to open a fixed deposit account with the bank. Nomination facility is available for all SBI fixed deposit account holders. Advantage of SBI Term Deposits: SBI offers various benefits for its term deposit holders. With its wide range of branches in urban and rural regions, reaching a SBI branch is much simpler and convenient compared to other branches. The stipulated minimum amount required to start a fixed deposit is Rs 1000 only which is far less than the minim threshold limit of most other banks. Loan and premature withdrawal facility is available for all SBI fixed deposit holders. The interest on fixed deposits can be reinvested as per the individual choice of the customer. All details of the fixed deposit account are available online for the customer. Interest Rates for term deposits below Rs 1 Crore: The State Bank of Indias interest rates for fixed deposits are as listed below. The interest rate payable to SBI Staff and SBI pensioners is 1.00% higher than the applicable rates. The rate applicable to SBI Pensioners of age 60 years and above is 0.25% above the general payable rate. Tenure 7 days to 90 days 91 days to 179 days 180 days to 210 days 211 days to less than 1 year 1 year to less than 2 years 2 years to less than 3 years General Interest Rates (w.e.f. 18.02.2014) 7.5 7.5 7.0 7.5 9.0 9.0 Interest Rate for Senior Citizens (w.e.f. 18.02.2014) 7.5 7.5 7.0 7.5 9.25 9.25

    3 years to less than 5 years 5 years and up to 10 years

    8.75 8.50

    9.0 8.75

    Visit BankBazaar.com to understand the FD schemes offered by SBI and the various benefits associated with it.

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