State Bank of India has once again revised its fixed deposit interest rates for deposits below Rs. 2 crore with effect from 10th September 2019. SBI has reduced the term deposit rates by up to 20-25 bps across various tenures and bulk deposit rates by up to 10-20 bps. Domestic Term Deposits. Domestic term deposits (Below Rs. 2 crore) interest rates revised w.e.f. Domestic term deposits (Rs 2 crore and above) interest rates revised w.e.f.; Domestic term deposits interest rates for 10 years.
- SBI FD Interest Rates 2021 - Check Latest Interest Rate Upto 5.4%
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- SBI FD Interest Rates: FD Scheme, Types, Benefits & Plan ...
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Term Deposit
SBI FD Interest Rates 2021 - Check Latest Interest Rate Upto 5.4%
- Accepted from both Residents and Non - Residents
- Different rates of interest for different terms of period
- Accepted both in Euros and US Dollars.
- Minimum Deposit: US$1000 or €1000
- Minimum Period: 1 Month
- Premature Encashment: Permitted, however, interest will be paid at rate applicable to the period for which the deposit has run. No interest will be paid for deposit prematurely withdrawn before 1 Month.
- With-holding Tax: With-holding tax is recovered at applicable rate where interest is paid to resident depositors.
Fixed Interest Rate (Tenor upto 1 year)
- For Retail Term Deposits above Rs 5.00 lacs but below Rs 2 crore, the penalty for premature withdrawal will be 1% (all tenors). The interest shall be 0.50% or 1% below the rate applicable at the time of Deposits for the period Deposit remained with the Bank or 0.50% or 1% below the contracted rate, whichever is lower.
- Financial planners point out that interest rates offered by Muthoot Finance are higher than those offered by banks and corporate deposits. A fixed deposit from SBI pays upto 5.4%, while a corporate deposit from a AAA rated company returns 6- 6.5% every year.
TENOR | Revised rates from 01.12.2020 | |
USD | EUR | |
1 month to less than 3 month | 0.20 | (-)0.15 |
3 months to less than 6 months | 0.45 | (-)0.05 |
6 months to less than 9 months | 0.65 | 0.00 |
9 months to less than 1 year | 0.80 | 0.05 |
Floating Interest Rate ( 1 year to 5 year)
TENOR | Newly Introduced floating card rates from 01.12.2020 | |
USD | EUR | |
Spread Over 1 Year USD LIBOR* | Spread Over 1 Year EURIBOR* | |
1 year to less than 2 year | 0.45 | 0.50 |
2 year to less than 3 year | 0.48 | 0.52 |
3 year to less than 4 year | 0.50 | 0.54 |
4 year to less than 5 year | 0.52 | 0.56 |
5 year | 0.55 | 0.58 |
* For all Tenors, 1 year USD LIBOR or 1 Year EURIBOR will be used.
For Deposits above Euro/US$ 5.000.000 please contact on undernoted numbers:
Mr Akash Kumar (Credit Operations, Forex & SWIFT)
Tel: 0032/3/2050202
mgrbills.antwerp@sbi.co.in
Mr Bhagwan Singh Rathore, Asst Manager (Forex & SWIFT)
Tel: 0032/3/2332887
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amforex.antwerp@sbi.co.in