Flexible Tenure option starting from 6 Months to 10 years
Additional interest rate of 0.5% for Senior Citizens
Choice of monthly and quarterly interest payout options
All bank deposits are covered under the insurance scheme offered by DICGC
| With Effect From 25.04.2024 | |||||
| Tenure | Up to INR 1 Cr | More than INR 1 Cr to less than INR 2 Cr (Callable) | More than INR 1 cr to less than INR 2 Cr (Non Callable) | INR 2 Cr Up to INR 5 Cr (Callable) | INR 2 Cr Up to INR 5 Cr (Non Callable) |
|---|---|---|---|---|---|
| Resident & NRO | Resident & NRO | Resident & NRO | Resident & NRO | Resident & NRO | |
| 7-14 days | 4.25% | 4.25% | 4.25% | 5.10% | 5.10% |
| 15-30 days | 4.25% | 4.25% | 4.25% | 5.10% | 5.10% |
| 31-45 days | 4.25% | 4.25% | 4.25% | 5.35% | 5.35% |
| 46-60 days | 4.25% | 4.25% | 4.25% | 5.35% | 5.35% |
| 61-90 days | 4.25% | 4.25% | 4.25% | 5.85% | 5.85% |
| 91-120 days | 4.85% | 4.85% | 5.00% | 6.80% | 6.95% |
| 121-180 days | 5.05% | 5.05% | 5.20% | 6.80% | 6.95% |
| 181-210 days | 6.60% | 6.60% | 6.75% | 6.90% | 7.05% |
| 211-269 days | 6.60% | 6.60% | 6.75% | 7.40% | 7.55% |
| 270 below 1 year | 6.60% | 6.60% | 6.75% | 7.25% | 7.40% |
| 1 year and 1 year 1 day | 7.10% | 7.10% | 7.25% | 7.30% | 7.45% |
| 1 year 2 days | 7.10% | 7.10% | 7.25% | 7.30% | 7.45% |
| > 1 year 2 days to 389 days | 7.10% | 7.10% | 7.25% | 7.30% | 7.45% |
| 390 days | 6.55% | 6.55% | 6.70% | 7.30% | 7.45% |
| 391 days to 15 months | 8.10% | 8.10% | 8.10% | 7.70% | 7.85% |
| > 15 months to 18 months | 7.65% | 7.65% | 7.80% | 7.70% | 7.85% |
| > 18 months to < 2 years 3 days | 7.65% | 7.65% | 7.80% | 7.70% | 7.85% |
| 2 years 3 days | 7.65% | 7.65% | 7.80% | 7.70% | 7.85% |
| > 2 years 3 days up to < 3 years 2 days | 7.65% | 7.65% | 7.65% | 7.55% | 7.70% |
| 3 years 2 days | 8.25% | 8.25% | 8.25% | 7.50% | 7.65% |
| > 3 years 2 days up to < 5 years | 7.05% | 7.05% | 7.20% | 7.10% | 7.25% |
| 5 years | 7.05% | 7.05% | 7.20% | 7.10% | 7.25% |
| > 5 years up to 10 years | 6.90% | 6.90% | 7.05% | 6.85% | 7.00% |
| Tenure | Up To INR 1 Cr | More than INR 1 Cr to less than INR 2 Cr (Callable) | More than INR 1 cr to less than INR 2 Cr (Non Callable) | INR 2 Cr Up to INR 5 Cr (Callable) | INR 2 Cr Up to INR 5 Cr (Non Callable) |
|---|---|---|---|---|---|
| NRE | NRE | NRE | NRE | NRE | |
| 1 year and 1 year 1 day | 7.10% | 7.10% | 7.25% | 7.30% | 7.45% |
| 1 year 2 days | 7.10% | 7.10% | 7.25% | 7.30% | 7.45% |
| > 1 year 2 days to 389 days | 7.10% | 7.10% | 7.25% | 7.30% | 7.45% |
| 390 days | 6.55% | 6.55% | 6.70% | 7.30% | 7.45% |
| 391 days to 15 months | 8.10% | 8.10% | 8.10% | 7.70% | 7.85% |
| > 15 months to 18 months | 7.65% | 7.65% | 7.80% | 7.70% | 7.85% |
| > 18 months to < 2 years 3 days | 7.65% | 7.65% | 7.80% | 7.70% | 7.85% |
| 2 years 3 days | 7.65% | 7.65% | 7.80% | 7.70% | 7.85% |
| > 2 years 3 days up to < 3 years 2 days | 7.65% | 7.65% | 7.65% | 7.55% | 7.70% |
| 3 years 2 days | 8.25% | 8.25% | 8.25% | 7.50% | 7.65% |
| > 3 years 2 days up to 5 years | 7.05% | 7.05% | 7.20% | 7.10% | 7.25% |
| > 5 years up to 10 years | 6.90% | 6.90% | 7.05% | 6.85% | 7.00% |
Disclaimer:
Above rates are subject to change without prior notice. Depositors may please confirm the rate with respective branches before the
investment.
Notes: 0.5% additional benefit for senior citizens (only applicable for deposits for Resident Indians).
In case of premature payment, the deposit represented by advice shall be subject to penalty provisions at the rates decided by the Bank from time to time. Currently, the Bank will allow withdrawal of all term deposits (except non-callable term deposits) of Rs. 2 Crore and below before completion of the period of the deposit agreed upon at the time of placing the deposit subject to levy of penal charges as applicable. The Bank will be paying interest for the run period prevalent at the time of opening of the deposit. The premature deposit closure penalty is 1% PA, and if the NRE/ FCNR runs for a period of 1 year and above.
If a request for the renewal is received after the date of maturity, such deposit will be renewed with effect from the date of maturity at the interest rate applicable on the date of maturity, provided such request is received within 14 days from maturity date. In case the request is received after 14 days, interest for the overdue period will be paid at the Savings Bank rate.
Tax Saver FD Disclaimers:
(i) Maximum amount of the Deposit is Rs. 150,000.00 for a tenor of 5 years
(ii) Deduction u/s 80C of the IT Act subject to fulfilment of conditions therein. First holder is only eligible for the tax deduction.
(iii) The deposit cannot be pledged to secure a loan or be placed as security to any other asset.
(iv) Premature withdrawal of the deposit (either principal or accrued interest) is not permitted before completion of 5 years.
(v) Auto renewal facility is not permitted.
(vi) Flexible interest pay-out options on monthly & quarterly basis are available.
What is the eligibility criteria to book an Online Fixed Deposit?
What is the minimum amount required to open a Fixed Deposit with SBM Bank India?
Do we have any special rates for Senior Citizens?
How is the FD interest amount paid out to customers?
Can I deposit more funds after creating an FD?
How long does it take to activate the bank account after Video KYC?
What if the Video KYC fails or I am unable to complete it?
