DOMESTIC TERM DEPOSITS

1. Revision in Interest Rates On Retail Domestic term deposits (Below Rs. 2 crore) interest rates revised w.e.f. 10.10.2019

Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees Two Crore 'have been revised.The revised interest rates are as under :

(All figures in % per annum)

Tenors Existing for Public w.e.f.10.09.2019 Revised For Public w.e.f.10.10.2019 Existing for Senior Citizens w.e.f. 10.09.2019 Revised for Senior Citizens w.e.f. 10.10.2019

7 days to 45 days

4.50
4.50
5.00
5.00

46 days to 179 days

5.50
5.50
6.00
6.00

180 days to 210 days

5.80
5.80
6.30
6.30

211 days to less than 1 year

5.80
5.80
6.30
6.30

1 year to less than 2 year

6.50
6.40
7.00
6.90

2 years to less than 3 years

6.25
6.25
6.75
6.75

3 years to less than 5 years

6.25
6.25
6.75
6.75

5 years and up to 10 years

6.25
6.25
6.75
6.75

The interest rate payable to SBI Staff and SBI pensioners will be 1.00% above the applicable rate. The rate applicable to all Senior Citizens and SBI Pensioners of age 60 years and above will be 0.50% above the rate payable for all tenors 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%).

The proposed rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. The interest rates on “SBI Tax Savings Scheme 2006(SBITSS)” Retail Deposits and NRO deposits shall be aligned as per the proposed rates for domestic retail term deposits. However, NRO deposits of Staff are not eligible for additional 1% interest otherwise applicable to staff domestic retail deposits, these rates of interest shall also be made applicable to domestic term deposits from Cooperative Banks.


2. Revision in Interest Rates on Domestic Bulk Term Deposits (Rs. 2 Crores and above) W.E.F. 10.10.2019
The revised Interest rates on 'Domestic Bulk Term deposits (Rs.2 Crore and above) with effect from 10th September, 2019 will be as per following table:

 

(All figures in % per annum)

Tenors Existing w.e.f. 10.09.2019 Revised w.e.f 10.10.2019 Existing for Senior Citizen w.e.f 10.09.2019 Revised for Senior Citizen w.e.f. 10.10.2019

7 days to 45 days

4.30
4.30
4.80
4.80

46 days to 179 days

5.30
5.30
5.80
5.80

180 days to 210 days

5.70
5.70
6.20
6.20

211 days to less than 1 year

5.70
5.70
6.20
6.20

1 year to less than 2 years

6.30
6.00
6.80
6.50

2 years to less than 3 years

6.00
6.00
6.50
6.50

3 years to less than 5 years

5.75
5.75
6.25
6.25

5 years and upto 10 years

5.75
5.75
6.25
6.25

Premature payment of Bulk term deposits:

Premature penalty for Bulk Term Deposits for all tenors will be 1%. It will be applicable for all new deposits including renewals. There is no discretion for reduction/waiver of penalty for premature withdrawal of term deposit

The revised rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. The interest rates on NRO term deposits shall be aligned as per the rates for domestic term deposits. These rates of interest shall also be made applicable to domestic term deposits from Cooperative Banks.