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
Sir,
How can we save the amount in bank from tax deductions. is the tax calculated on the savings accounts and fixed deposits.
You can fill up a Form 15H or Form 15G based on if you are a senior citizen or not and if in fact you are eligible for it.
sir
i want to know that the procedure of recurring deposit in state bank of india. kindly send me information also about rate of interest for 10 years recurring deposit.
F D RATES ON 28-10-2011
Sorry, don’t have it.
sir, i have saving 5000- 7000/- per month from my salary what i can do for get better return in 1-2 years.
Please suggest me as soon as possible.
fixed deposit in a bank is safe and good esp. this high rate environments.
how i can get intimetion my account detail in my moblie no.
hi
how much interest for one lakh
Hi,
I want to open an RD in my existing bank account.is that beneficial and by doing so,should i need to pay the tax if it exceed 1 lakh?
I’m not sure what you mean by beneficial – yes you will get a higher interest than a savings account if that’s what you mean, but it will be lower than your fixed deposits rate.
Also, interest is taxable if your income exceeds the tax slab limit.
Hi,
This is Ashwini from bangalore, i want to save Rs5000 – Rs10000 every month? what would you suggest me sir? whats the best option to save money and what is the procedure to save money?kindly let me know sir.
Regards,
Ashwini
9845848689.
Dear sir,
when i fixed deposit rs:25000/ in sbi bank in how many intrest in 1 year.
Hi
I hope that the readers of onemint will find following links useful
A. Get the Highest FD Interest Rates
1. For Fixed Deposits
2. Tax Savings Fixed Deposits
3. NRI Fixed Deposits
http://www.ratekhoj.com/fixed-deposits/index.php
A (a) Fixed Deposit Rates
You can get FD rates based on institution types like banks (Public Sector / Nationalized Banks, Indian Private Sector Banks, Foreign Banks, Cooperative Banks, Post Office Savings Schemes, Companies etc.). You can get interest rates selecting as per deposit period range or you can select specific deposit period for your fixed deposit. You can also search for senior citizen and non senior rates as well. Many banks pay different rates of interest for large deposits, you can select this criteria as well.
The search is broadly categorized in 4 types:
1. FD rates based on institution type/deposit period range
2. FD rates based on institution type/specific deposit period
3. FD rates in selected institutions/deposit period range
4. FD rates in selected institutions/deposit period range
You then fill your search criteria and the resulting table can runs into hundreds of pages. In many cases you have to narrow your search or you have to be specific in your search so that the table may not run in many pages.
You can sort this table as per you choice as per alphabetical list of institutions, period of deposit and rate of interest (highest to lowest) by clicking on the first row of the table.
http://www.ratekhoj.com/fixed-deposits/fixed-deposit-rates/index.php
B. Calculators
Fixed Deposit Interest Calculator – Calculate how much interest payments you can get based on your fixed deposit amount, interest rate and interest payment period.
FD Maturity Calculator – Calculate the maturity amount and effective yield (compound interest rate) of your fixed deposit based on your deposit amount, interest rate and duration
http://www.ratekhoj.com/calculators.php
C. Find Bank IFSC Codes, MICR Codes, Postal Addresses
http://www.ratekhoj.com/banks/index.php
D. Gold Coin Prices Offered by different banks
http://www.ratekhoj.com/goldprice/index.php
Umesh
Dear Sir
When SBI or any other bank cut interest from savings bank account? What is it for fixed deposit? Please write me what is the rate of interest on Recurring Deposit in SBI? Is the rate of interest compounded half-yearly for all banks? Please answer this questions. Thanks.
I’m sorry I tried to look for that info some time ago, but didn’t find it. You will need to go to the branch to check that out.
Hi Palas
Normally the rate of interest on RD is the same as for FD of similar period. Normally compounded quarterly for RD of 1yr or more duration
Umesh
Hi, is it possible for a uk resident to access these higher rates of interest on one’s saving,s and ifso how and who with, cheer’s.
I don’t think foreigners can open a fixed deposit in Indian banks. Sorry Trev.
Hi I would like to know how much interest rate is paid by SBI on Recurring deposits! I tried a lot to find the information but am totally confused!! Please help!
I’m sorry I’m not aware of those. You will need to contact the branch, usually they are bit lower than the special interest rates they give for the same time frame in fixed deposits.
i want to fixed deposit 200000 for 6months in SBI ,how much will i get(the interest) after 6 months
I want nationalised banks fixed deposist interest rates for last 20 years pls send my id
Not possible, don’t have it.
Hi Manshu,
I have a fixed deposit (fd) of 50,ooo which i did 5 years back…now on maturity i’m suppose to get 72,950 approx. which is written on the fd certificate…but the bank person told me that I should get 70,000 as it comes under tax. I ddnt understand that exactly why that 2,500 approx is deducted…could u please tell me and how to calculate that deduction and where i will get the info…if u have a link please send me that too..
Ranjan
Hi Ranjan,
FD interest is supposed to be added to your income, and then taxed according to your income slab.
I’m afraid I don’t know at what rate they deducted it for you, but if it is more than the tax slab that you are in then you should seek clarification with them.
will s.b.i increase the rate of interest on deposit after increasing the repo &revers repo rate by r.b.i.
I HAVE OPENED A RD A/C IN SBI ON 2/8/2010, FOR 12 MONTHS WITH MONTHLY DEPOSITS OF Rs.500, Please let me know the maturity value along with calculation chart
Hai
My name is Kunj Bihari, I did RD in SBI for one year 500/- each month. Date- 2-8-2010 to 2-8-2011
So in finally how much amount i will get from RD?
Please give right answer
Thanks
Kunj
Suppose if I open an RD account for one year by depositing Rs5000 every month. I want to know whether the amount which I deposit every month is fixed or can I deposit some additional amount along with Rs 5000 for every month if I have some money in spare.
Yeah, I think they should have a way for you to do it Sunil, please check with them when you’re opening the RD.