Update: October 18 2012
I updated my bank interest rates page yesterday, and realized how many different types of interest rates there are. So, I thought I’d create this page with State Bank of India interest rates that will act as a reference for different types of interest rates as well as a ready reference – if someone is specifically interested in SBI interest rates.
1. Domestic Term Deposits: The first one in the list is interest rates for domestic term deposits below one crore rupees.
Here is the table that has those rates.
|
Tenor |
Below Rs.15 Lakhs |
Rs.15 lakhs to less than Rs. 1 Cr |
||
|
Existing Rates w.e.f. 07.08.2012 |
Revised rates w.e.f. 07.09.2012 |
Existing Rates w.e.f. 07.08.2012 |
Revised rates w.e.f. 07.09.2012 |
|
|
7 days to 90 days |
7.00 |
6.50 |
8.00 |
7.50 |
|
91 days to 179 days |
7.00 |
6.50 |
8.00 |
7.50 |
|
180 days |
7.00 |
6.50 |
8.00 |
7.50 |
|
181 days to 240 days |
7.25 |
6.50 |
8.00 |
7.50 |
|
241 days to less than 1 year |
7.50 |
6.50 |
8.00 |
7.50 |
|
1 year to less than 2 years |
9.00 |
8.50 |
9.00 |
8.50 |
|
2 years to less than 3 years |
 9.00 |
 8.50 |
 9.00 |
 8.50 |
|
3 years to less than 5 years |
 9.00 |
 8.50 |
 9.00 |
 8.50 |
|
5 years and up to 10 years |
8.50 |
8.50 |
8.50 |
8.50 |
2. Domestic Term Deposits for more than one crore rupees: If you have more than a crore to spare for a term deposit – you will get a different interest rate. Here is that table:
|
Tenor |
Rs.15 lakhs and above to less than Rs. 1 Crore |
||
|
Existing premiums w.e.f. 07.08.2012 |
Revised Premiums w.e.f. 07.09.2012 |
Effective Rate w.e.f. 07.09.2012 |
|
|
7 days to 90 days |
100 bps |
100 bps |
7.50 |
|
91 days to 179 days |
100 bps |
100 bps |
7.50 |
|
180 days |
100 bps |
100 bps |
7.50 |
|
181 days to 240 days |
75 bps |
100 bps |
7.50 |
|
241 days to less than 1 year |
50 bps |
100 bps |
7.50 |
|
1 year to less than 2 years |
– |
– |
8.50 |
|
2 years to less than 3 years |
– |
– |
8.50 |
|
3 years to less than 5 years |
– |
– |
8.50 |
|
5 years and up to 10 years |
– |
– |
8.50 |
3. Resident Indian Senior Citizens: Senior citizens get a slightly interest rate in India, but not if their deposit is more than a crore. Here is a table that shows these rates:
|
Tenor |
Below Rs.15 Lakhs |
Rs.15 lakhs to less than Rs. 1 Cr |
||
|
Existing Rates w.e.f. 07.08.2012 |
Revised rates w.e.f. 07.09.2012 |
Existing Rates w.e.f. 07.08.2012 |
Revised rates w.e.f. 07.09.2012  |
|
|
7 days to 90 days |
7.00 |
6.50 |
8.00 |
7.50 |
|
91 days to 179 days |
7.00 |
6.50 |
8.00 |
7.50 |
|
180 days |
7.00 |
6.50 |
8.00 |
7.50 |
|
181 days to 240 days |
7.25 |
6.50 |
8.00 |
7.50 |
|
241 days to less than 1 year |
7.50 |
6.50 |
8.00 |
7.50 |
|
1 year to less than 2 years |
9.50 |
9.00 |
9.50 |
9.00 |
|
2 years to less than 3 years |
9.50 |
9.00 |
9.50 |
9.00 |
|
3 years to less than 5 years |
9.50 |
9.00 |
9.50 |
9.00 |
|
5 years and up to 10 years |
9.00 |
9.00 |
9.00 |
9.00 |
4. SBI staff and pensioners: If you are a SBI employee or pensioner – you will get 1% extra on top of the regular interest rate. If you are a pensioner above 60 years old, then you will get dual benefit – 0.50% extra for senior citizens, and 1% extra for the staff.
5. Savings Bank Interest Rates: Savings account get an interest rate of 3.5%.
Let me know if I missed out anything or if you have any other questions, and also look at the fixed deposit rates in India offered by other banks.
If you are a NRI, then the NRI Interest Rates page will be more meaningful for you, and if you are looking for more information on fixed deposits, then this page lists down more resources on fixed deposits.
Click on the New Here page to see how you can make the best use of this website.
Image by nOr
I am lucky got allotted 17 without effort, hope to increase the lot atleast upto 100 for the future holding. I believe it is a good investment.
31208296388
yes
Hello
Plz make me acquaint with the rate of interest for saving account in India.I am in Dubai how I can have a NRI account also.
Syed Zamin Rizvi
Savings account in India yield 3.5% for residents.
Please contact a bank either online or through phone to open an NRI account.
@ Gautam – Is the institute a trust or a corporate ? Also, which instrument are they looking to park their funds into. If you could answer these questions probably I could suggest you some options.
-Imran
99200-67880
hi every one ….
can u please tell me which bank policies are good for a person who just started earnings in an IT field?
not only bank policies please suggest me how to start saving my salary in a useful way??
with regards..
NEEHAR T P
Hi Neehar,
I’d recommend that you go through the Investing for Beginner’s post that are here. http://www.onemint.com/category/investing-for-beginners/
They are still work in progress but you will find some info to get started with. As far as investing is concerned, consider investing in a proportion of debt and equity. For equity you can buy some mutual funds like an index mutual fund, or a mutual fund with a good track record like HDFC Top 200. For equity you can also consider investing in ELSS funds and take advantage of tax savings there.
For debt you can start off with some infrastructure debt which has also got some tax advantage.
I’d also recommend staying away trading in the stock market, and buying and selling stocks for the short term, as hardly anyone makes money from that.
the institute want to invest rs 29 lac with sbi. pl send the new interest.
You will have to talk to someone in the SBI branch about this.
please send me details & iterest rate of thrift
I’m not sure I understand – interest rate of thrift; could you please elaborate a little?
thank you very much for giving the rates my wife was dying to know it
AAREY KOI TO BATA DO ???
hello friends
i want the interest rate if sbi on fixed deposit on the date 5/11/2009
please if any one could help me??
send me please interest rate of dfr
What’s DFR Pawan?
i want the interest rate if sbi on fixed deposit on the date 5/11/2009
please if any one could help me??
THANKS MANSHU BUT I want interest rate of sbi on fixed deposit on the date 5/11/2009
Sorry Sanket, but I don’t know how to get to the interest rate on that exact date.
Maybe someone else has an idea on how to get to that number in which case please leave a comment.
Thanks for the updation of interest rates.
i want the interest rate if sbi on fixed deposit on the date 5/11/2009
please if you could help me??
I found some interest rates around that date on this link: http://www.thinkplaninvest.com/2009/07/sbis-fixed-deposit-interest-rates-2009/
I hope this helps.
why interest rate in SBI for fixed deposit for a period of 5 year is less(7.50%) than for a period of 1000 days(7.75%).
I’m sorry, but I don’t know why that happens.
Dear Sir,
You are right. contact is not possible as I am in Mumbai and branch is at my village. I have to be very sure the interest calculation what they made is as per existing rates and rules before I write to them. Please help me
Dear sir,
Please send me interest rate list
Which interest rates list are you referring to?