State Bank of India Interest Rates

Update: July 09 2011

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.

Tenors	Existing w.e.f. 12.05.2011	Tenors	Revised w.e.f. 11.07.2011
7 days to 14 days	6.25	7 days to 90 days	7.00
15 days to 45 days	6.25
46 days to 90 days	6.25
91 days to 180 days	7.00	91 days to 179 days	7.25
181 days to less than 1 year	7.75	180 days to 240 days	6.50
		241 days to less than 1 year	7.75
1 year to 554 days	8.25	1 year to less than 2 years	9.25
555 days	9.25
556 days to less than 2 years	8.25
2 years to 999 days	8.75	2 years to less than 3 years	9.25
1000 days	9.25
1001days to less than 3 years	8.75
3 years to less than 5 years	8.25	3 years to less than 5 years	9.25
5 years to less than 8 years	8.50	5 years and up to 10 years	9.25
8 years and up to 10 years	8.75

 

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:

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:

Tenors	Existing w.e.f. 12.05.2011		Revised w.e.f. 11.07.2011
7 days to 14 days	6.25	7 days to 90 days	7.00
15 days to 45 days	6.25
46 days to 90 days	6.25
91 days to 180 days	7.00	91 days to 179 days	7.25
181 days to less than 1 year	7.75	180 days to 240 days	6.50
		241 days to less than 1 year	7.75
1 year to 554 days	8.75	1 year to less than 2 years	9.75
555 days	9.75
556 days to less than 2 years	8.75
2 years to 999 days	9.25	2 years to less than 3 years	9.75
1000 days	9.75
1001 days to less than 3 years	9.25
3 years to less than 5 years	8.75	3 years to less than 5 years	9.75
5 years to less than 8 years	9.00	5 years to less than 8 years	9.75
8 years and up to 10 years	9.25	8 years and up to 10 years	9.75

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

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