STATE BANK OF INDIA DOMESTIC TERM DEPOSITS [Print Page]

The revised interest rates for Domestic Term Deposits Crore' effective from the 13.08.2011 would be as under:

'Below

Rupees

One

Tenors 7 days to 90 days 91 days to 179 days 180 days to 240 days 241 days to less than 1 year 1 year to less than 2 years 2 years to less than 3 years 3 years to less than 5 years 5 years and up to 10 years

Existing w.e.f. 11.07.2011 7.00 7.25 7 days to 90 days 91 days to 179 days 180 days to 240 days 241 days to less than 1 year 1 year to less than 2 years 2 years to less than 3 years 3 years to less than 5 years 5 years and up to 10 years

Revised w.e.f. 13.08.2011 7.00 7.25

6.50

7.00

7.75

7.75

9.25

9.25

9.25

9.25

9.25

9.25

9.25

9.25

There shall be no premium in rate of interest for single domestic term deposit of Rs.15 lakhs but less than Rs.1 Crore of any maturity. The revised rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. The interest rates on Capgains Plus, SBI Tax Savings Scheme 2006(SBITSS) schemes and NRO deposits shall be aligned as per the revised rates for domestic term deposits. These rates of interest shall also be made applicable to domestic term deposits from Cooperative Banks Premature Payment of Term Deposits: Interest to be charged on premature withdrawal of term deposits at 0.50% below the rate applicable for the period deposit has remained with the Bank or 0.50% below the

contracted rate, whichever is lower, for tenors above 180 days. Penalty for premature withdrawal of term deposits has been waived for deposits of tenors up to 180 days. However, no interest shall be paid on term deposits that have remained with the Bank for less than 7 days.

Domestic Term Deposits of 'Rs One Crore & above'

Term Deposits will continue to be accepted for amounts of Rs. one Crore & above at all branches and the card rates w.e.f. 07.11.2011 are as below: Tenors Existing w.e.f. 21.10.2011 8.50 8.50 8.50 8.50 8.50 8.00 7 days to 14 days 15 days to 30 days 31 days to 45 days 46 days to 90 days 91 days to 180 days 181 240 241 270 days to days days to days Revised w.e.f. 07.11.2011 8.50 8.50 8.50 8.50 8.50 8.00 8.00

7 days to 14 days 15 days to 30 days 31 days to 45days 46 days to 90 days 91 days to 179 days 180 days to 240 days 241 days to 270 days 271 days to less than 1 year 1 year to less than 2 years 2 years and above

8.00

8.25

9.00 8.75

271 days to less than 1 year 1 year to less than 2 years 2 years and above

8.25

9.00 8.75

The Differential Rates of Interest (DRI rates for higher amount of deposits) for the day may be obtained from the DGM (SME) at the nearest Local Head Office through the nearest branch. Premature payment of term deposits: Interest to be charged on premature withdrawal of term deposits at 0.50% below the rate applicable for the period deposit has remained with the Bank or 0.50% below the contracted rate, whichever is lower, for tenors above 180 days. Penalty for premature withdrawal of term deposits has been waived for deposits of tenors up

to 180 days. However, no interest shall be paid on term deposits that have remained with the Bank for less than 7 days.

DEPOSITS OF Resident Indian SENIOR CITIZENS The interest rates payable on deposits to resident Indian Senior Citizens (60 years and above) for Domestic Term Deposits "Below Rupees One Crore" effective from the 13.08.2011 stands revised as under:Tenors Existing w.e.f. 11.07.201 1 Revised w.e.f. 13.08.2011

7 days to 90 days

7.00

7 days to

7.00

91 days to 179 days

7.25

91 days to

7.25

180 days to 240 days

6.50

180 days

7.00

241 days to less than 1 year

7.75

241 days

7.75

1 year to less than 2 years

9.75

1 year to

9.75

2 years to less than 3 years

9.75

2 years to

9.75

3 years to less than 5 years

9.75

3 years to

9.75

5 years and up to 10 years

9.75

5 years

9.75

There shall be no premium in rate of interest for single domestic term deposit of Rs.15 lakhs but less than Rs.1 Crore of any maturity. The interest rate payable to SBI Staff and SBI pensioners will be 1.00% above the applicable rates. The rate applicable to SBI Pensioners of age 60 years and above will be 1.00% above the rate payable to resident Indian senior citizens i.e. SBI resident Indian Senior Citizen Pensioners will get both the benefits of Staff (1%) and resident Indian Senior Citizens (0.50%).

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The rates of interest offered on SBI Tax Savings Scheme (SBITSS) will be revised with effect from 11.07.2011. The details are as follows: w.e.f. w.e.f.

07.12.2010 11.07.2011 General Public #8.50% p.a 9.25% p.a Resident #9.00% p.a 9.75% p.a Indian Senior Citizens: 0.50% above the rate applicable to general public SBI Staff and #9.50% p.a/ 10.25% p.a/ SBI Pensioners #10.00% p.a 10.75% p.a (resident Indian senior citizens): 1.00% above the rate applicable to general public/senior citizens

#additional 0.25% if the tenor of deposit is '8 years and up to 10 years'

BANK OF INDIA

DOMESTIC RUPEE TERM DEPOSITS The Bank has decided to revise interest rates on Domestic Rupee Term Deposits w.e.f 27.6.2011 (There is no revision in Rate of interest for Deposits below Rs1Crore.The rates of interest have been revised only for Domestic Term Deposits of Rs 1 Crore and above which will be displayed on daily basis) Domestic Rupee Term Deposits (% p.a.) For deposits Rs.15 lakh & above but less than Rs.1 Cr. Existing w.e.f. Existing w.e.f. w.e.f. 27.06.11( w.e.f. 27.06.11( No 01.06.11 No 01.06.11 revision ) revision ) 4.00 4.50 5.50 5.50 7.00 8.00 8.00 9.00 4.00 4.50 5.50 5.50 7.00 8.00 8.00 9.00 4.00 4.50 5.50 5.50 7.00 8.00 8.00 9.00 4.00 4.50 5.50 5.50 7.00 8.00 8.00 9.00 For deposits less than Rs.15 lakh For deposits of Rs.1 Cr. And above but less than Rs10 Cr Existing The rates will w.e.f. be quoted on 01.06.11 daily basis (Rates for 30.01.12) 2.50 4.50 2.75 3.00 4.00 6.25 6.75 7.00 Being quoted daily 5.00 6.50 7.25 7.50 8.25 8.75 9.30

Maturity

07 days to 14 days * 15 days to 30 days 31 days to 45 days 46 days to 90 days 91 days to 179 days 180 days to 269 days 270 days to 364 days 1 Year to less than 2 Yrs except 555 days 555 days 2 Years to less

9.25 9.00

9.25 9.00

9.25 8.00

9.25 8.00

8.25

8.25

than 3 Years 3 Years to less than 5 years except for 1111 days 1111 Days 5 years to less than 8 years 8 years to 10 Years and above

8.50

8.50

7.75

7.75

7.25

7.25

9.00 8.75 8.75

9.00 8.75 8.75

8.25 8.50 8.75

8.25 8.50 8.75

8.25 7.00 7.00

8.25 7.00 7.00

555 days and 1111 days Term Deposits will be converted into months and days and the maturity value will depend upon the Months and days of the Term Deposit remains with the Bank. Conversion of 555 days and 1111 days into months and days is automatically available for Online TDRs and customers may contact branches for knowing conversion of 555 days and 1111 days for deposits to be given in any particular month. Conversion of days of Term Deposits into month and days may differ month to month depending upon the actual number of days the deposit remains in the bank . Following are the conversion factors in Month & Days for the month January 2012 for deposits under Specific Number of Days Maturity:1. 555 days: 18 months & 8 days 2. 1111 days: 36 months & 15 days * Minimum Deposit Rs.1 lakh. Senior Citizens: Senior Citizens other than staff A) 0.5% p.a interest more than the card rates on their deposits of six months & above but less than 5 years , B) 0.70 % p.a for Term Deposits of 5 years and above but less than 8 years and C) 0.80% p.a for deposits of 8 years and upto 10 years for all term deposits of Rs.5000/- and above. Senior Citizen Ex staff will get an additional interest of 1% p.a irrespective of the amount of deposit and period of deposits. Staff/Ex-staff senior citizens will get a further additional interest of 0.50% p.a on deposits of 6 months and above but less than 5 years , 0.70 % p.a for Term Deposits of 5 years and above but less than 8 years and 0.80% p.a for deposits of 8 years and upto 10 years i.e 1% p.a. for staff + 0.50% p.a or 0.70% p.a or 0.80% p.a as applicable to senior citizens. It is clarified that for additional rate to Sr. Citizens the minimum period of deposit should be 6 months even for staff and ex staff. Treasury will also quote separate rate of interest for deposit of Rs.10 Cr & above to branches. On rates quoted by the Treasury , no additional interest either for senior citizen or staff will be available. Auto renewal parameters for all Bulk Deposits should not be marked but DISABLED so that there may not be any case of discrimination in rate of interest paid to customers. Please also note that interest rates as above will also be applicable to deposits under Star Sunidhi Deposit Scheme. Please refer Branch Circular No. 100/90 dated 01-09-2006 for all other terms and conditions. Effective Annualized Rate of Return (Indicative only)

In keeping with Reserve Bank of India guidelines to provide information on effective annualized rate of return on deposits of various maturities, we give below the effective annualized rates of return on Banks cumulative deposit schemes, under the Re-investment Plan, on quarterly compounding basis: (% p.a.) For deposits Rs.15 lakh & above but less than Rs.1 Cr. Rate of Annualized Rate of Return Rate of Annualized Rate of Return Interest at minimum of the maturity Interest at minimum of the maturity (%) p.a. bucket % (%) p.a. bucket % 8.00 8.00 9.00 9.25 9.00 8.50 9.00 8.75 8.75 8.08 8.16 9.31 9.80 9.74 9.56 10.22 10.83 12.48 8.00 8.00 9.00 9.25 8.00 7.75 8.25 8.50 8.75 8.08 8.16 9.31 9.80 8.58 8.63 9.27 10.45 12.48 For deposits less thanRs.15 lakh

Maturity 180 days to 269 days 270 days to 364 days 1 Year to less than 2 Yrs except 555 days 555 days 2 Years to less than 3 Years 3 Years to less than 5 years except for 1111 days 1111 Days 5 years to less than 8 years 8 years to 10 Years and above

PREMATURE WITHDRAWAL: For premature payment, there will be penalty of 0.50% p.a. on all the Term Deposits of Rs1 Cr and above which will be accepted/renewed from 27th June,2011 however, there will be no premature penalty for Term Deposits below Rs 1 Cr. For premature withdrawal the following rules for payment of interest will be applicable: The applicable rate of interest on the date of acceptance of Deposit for the actual period for which the Deposits has remained with the Bank OR contracted rate of interest whichever is LOWER No interest will be paid for premature withdrawal below 7 days in case of Term Deposits and below 3 months in case of Recurring deposits. However, for deposits of Rs 1 Cr and above 0.50% p.a penalty will be applicable from 27.6.2011 for deposits received/ renewed on or after 27.6.2011 In respect of specific 555 and 1111 days deposits, premature payment facility, on deposits of Rs1.00 Cr and above is not available except for individuals and HUF. NO SPLITTING OF DEPOSITS: Request from customers to split deposits in several receipts on the same day to avail benefit of higher interest should not be entertained. In other words,

different Term Deposit Receipts issued on the same day in the same name/s maturing in same bucket should be clubbed together for determining the eligible rate of interest.