SBI NRI Services - NRE Fixed Deposit Interest Rate

NRE TERM DEPOSITS With effect from 28th May, 2018
Tenors Below Rs.1 Crore Rs.1 Crore & up to 10 Crores Above Rs.10 Crores

1 year less than 2 years

6.65%

7.00%

7.00%

2 years to less than 3 years

6.65%

6.75%

6.75%

3 years to less than 5 years

6.70%

6.65%

6.65%

5 years and upto 10 years

6.75%

6.25%

6.25%

Premature withdrawal

  • No interest is payable if the deposit is withdrawn before one year.
  • No interest is payable if the deposit is withdrawn before one year.
  • No interest is payable if the deposit is withdrawn before one year.
  • Effective 01st April 2017, Penalty for Premature Withdrawal for Retail Term Deposits will be applicable as under:

Description Penalty (All Tenors)
Up to Rs.5.00 lacs 0.50%
Above Rs.5.00 lacs but below Rs.1 Crore 1%
  • The interest shall be 0.50% or 1% below the rate applicable at the time of Deposits for the period Deposit has remained with the Bank or 0.50% or 1% below the contracted rate, whichever is lower.

  • On pre-mature withdrawal of the deposit (after completion of 1 year), interest will be paid at applicable rate for the period the deposit has actually remained with the Bank or contracted rate less Premature Penalty of 1%, whichever is lower.

  • On pre-mature withdrawal of the deposit (after completion of 1 year), interest will be paid at applicable rate for the period the deposit has actually remained with the Bank or contracted rate less Premature Penalty of 1%, whichever is lower.