INSUBCONTINENT EXCLUSIVE:
The minimum amount that one requires to open a fixed deposit with SBI is Rs 1,000.For investors looking to make safe returns, State Bank of
In a SBI FD account, one can deposit a lump sum of money for a specific period and avail of features like guaranteed returns and choice of
In case of RDs, customers can deposit the sum every month and earn an interest income on the same
Interest rates offered on RDs are the same as that on fixed deposit (FD) accounts, stated SBI on it's website- sbi.co.in.State Bank of India
(SBI) Fixed Deposit (FD) account:The minimum amount that one requires to open a fixed deposit with SBI is Rs 1,000
However, there is no limit on maximum deposit
SBI offers maturity period ranging from seven days to 10 years for fixed deposits, said the lender.Premature withdrawal facility is
available with SBI's FD account
The interest shall be 0.50 per cent or 1 per cent below the rate applicable at the time of deposits for the period deposit remained with the
bank or 0.50 per cent or 1 per cent below the contracted rate, whichever is lower
However, no interest will be paid on deposits which remain for a period of less than 7 days, noted SBI.The following FD interest rates are
applicable on deposits below Rs 1 crore as mentioned on bank's website:Maturity period (term)Interest rate with effect from July 30,
2018General publicSenior citizen7 days to 45 days5.75%6.25%46 days to 179 days6.25%6.75%180 days to 210 days6.35%6.85%211 days to less than
1 year6.4%6.9%1 year to less than 2 year6.7%7.2%2 years to less than 3 years6.75%7.25%3 years to less than 5 years6.8%7.3%5 years and up to
a recurring deposit account with SBI is Rs 100
The amount and the number of installments cannot be changed after opening of the account
Just like FD, there is no limit on maximum deposit, mentioned SBI
The maturity amount is based on the installment, tenure and type of account selected by the customer
The maturity value of a recurring deposit is rounded off to the nearest rupee and paid after 30 days /one month deposit of last installment
or on the expiry of the period, for which the deposit was accepted, whichever is later, noted SBI.A service charge is levied on recurring
deposit accounts paid out on or after the date of maturity, wherein there is default in payment of three or more consecutive instalments and
the account has not been regularized
A service charge of Rs 10 is levied on such accounts at the time of payment at or after maturity.Premature withdrawal is allowed with SBI's
Interest rates on SBI's RD accounts are the same as those on fixed deposits.
