Deposits

If you're looking to invest your idle wealth and earn attractive returns, you can choose from our range of deposits tailored to your specific financial needs. A deposit refers to the money you place in a bank or financial institution, either for safekeeping or to earn additional income through interest accrual. At SBM Bank, we offer various types of deposits designed to help you achieve your financial goals and manage your wealth effectively. Whether you're looking for short-term growth or long-term stability, our diverse deposit options provide the right solutions to suit your needs.

Deposits

Choose from our Different Types of Deposits

When you choose to invest with SBM Bank India, you can opt for various types of deposit options given below to create a ‘deposits portfolio’ that helps you meet your financial goals:

fixed-deposits

A Fixed Deposit enables you to invest funds for a pre-decided tenure and earn interest at a pre-determined rate. You can select the interval at which you wish to receive interest payouts and will receive the principal amount upon maturity.

View FD rates

nro accounts

Designed for Non-Resident Indians, an NRO/NRE Fixed Deposits allows Indians living abroad to invest their wealth and earn attractive returns. While an NRO FD allows NRIs (Non-Resident Indians) to invest the income earned in India, an NRE FD is geared towards earnings generated abroad.

View NRE/NRO FD rates

tax-saving-fixed-deposits

If hefty taxes are an area of concern for you, then a Tax-Saving Fixed Deposit would be of immense help. Apart from providing the benefits of a regular FD, a Tax-Saving Fixed Deposit also helps you claim deductions that go a long way in helping you plan ahead and save on taxes.

View Tax Saving FD Rates

recurring-deposits

A Recurring Deposit is a unique deposit that enables you to earn interest while depositing funds on a regular basis. With savings, additional income, and flexibility on the cards, an RD is an important investment tool to have in your portfolio.

View Recurring Deposit

Key Features and Benefits

SBM Bank offers the deposit options listed above, investing in which can allow you to make the most of the features mentioned below:

Fixed Deposits

Fixed Deposits

Since a Fixed Deposit is not a market-linked investment instrument, it offers assured returns and a sense of security. At SBM Bank, we offer a variety of Types of Deposits, including FDs with competitive interest rates and flexible tenures. Additionally, you can enjoy several benefits such as premature encashment, loan facilities against your FD, seamless transfers, and more. Whether you're looking for short-term or long-term investment options, SBM Bank ensures you have access to reliable and rewarding Types of Deposits to suit your financial goals.

View FD rates
NRO NRE Fixed Deposit

NRO/NRE Fixed Deposit

Opting to invest in an NRO Fixed Deposit with SBM Bank allows you to enjoy a risk-free investment. You can initiate the investment with low amounts and stand to earn high returns due to attractive interest rates and quarterly compounding. Plus, you can enjoy hassle-free renewal facilities, tax-free returns, repatriable interest, and more. Similarly, opening an NRE FD at SBM Bank is a secure investment option. Just like an NRO FD, an NRE FD allows you to make the most of attractive interest rates and compounding to earn high returns. You can also enjoy benefits such as tax-free returns, full repatriability on the principal and interest amount, nomination facility, and much more.

View NRE/NRO FD rates
Tax-Saving Fixed Deposit

Tax-Saving Fixed Deposit

The Tax-Saving Fixed Deposit at SBM Bank is a saving and investment instrument that allows you to earn attractive returns through competitive interest rates, while claiming deductions under Section 80C of the Income Tax Act, 1961. Tax Saving Fixed Deposits have a mandatory lock-in period of 5 years, during which the invested amount cannot be withdrawn.

View Tax Saving FD Rates
Recurring Deposit

Recurring Deposit

Opening a Recurring Deposit at SBM Bank allows you to enjoy maximum flexibility, with tenures ranging from 6 months to 10 years. Plus, you can avail of competitive interest rates as per the investment tenure. At SBM Bank, we also offer facilities such as premature encashment, nomination, transfer, and more. To ensure that you manage and invest your wealth, and maximise its full potential, invest in SBM Bank Deposits today.

View Recurring Deposit
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SBM Bank (India) Ltd is registered with DICGC for the deposit insurance scheme under the DICGC Act 1961. For more information you can visit https://www.dicgc.org.in/ Or Scan the QR code

FAQs

While an NRO (Non-Resident Ordinary) Deposit is used to invest funds earned in India, and NRE (Non-Resident External) is only used for earnings generated in another country.

No, you cannot avail of premature withdrawal on Tax-Saving Fixed Deposits prior to the completion of the tenure of 5 years.

Yes, at SBM Bank, you can prematurely close a Recurring Deposit to access your funds. However, an appropriate penalty would be levied for the same.

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DICGC-logo DICGC-QR-code
SBM Bank (India) Ltd is registered with DICGC for the deposit insurance scheme under the DICGC Act 1961. For more information you can visit  https://www.dicgc.org.in/  Or Scan the QR code