India’s largest bank State Bank of India (SBI) has reduced its NRE/NRO, Senior Citizen, Domestic Term Deposit Rates from April 24, 2012. Below are the revised rates.
Premature withdrawal of SBI Term Deposits:
- Domestic Term and NRO Deposits should remain for a minimum period of 7 days and NRE Deposits should remain for a minimum period of 1 year in order to earn interest.
- No penalty for premature withdrawal upto 180 days and 0.5% for other maturities.
SBI NRE/NRO, Senior Citizen, Domestic Term Deposit Rates – April 2012,
Popular Searches For This Post:
- sbi fd – fixed deposit rate in sbi – nre recurring deposit interest rates sbi – sbi schemes for nri – sbi fixed deposit rate of interest april 2013 – premature withdrawal of nro fixed deposit sbi – sbi saving account – sbi senior citizen saving scheme 2013 – sbi senior citizen scheme 2012 – SBI senior citizen gold loan – SBI senior citizen fixed deposits 2013 – sbi senior citizen fd scheme 2012 – what is nro and nre fixed deposit accounts sbi -
"Subscribe to the blog"
Receive an update straight to your inbox every time I publish a new article. Your email address will never be shared
 |
|
Is Tamil Nadu Mercantile bank a good bank to do Fixed deposit?
Yes Tamil Nadu Mercantile bank is good bank for FD. In-fact most of the time they offer best interest rates on different tenures! Anyway you must be aware that in India bank deposits up to Rs 1 Lakh is insured in case of default. You can read more here.
suppose i deposit 3 crore in SBI (state bank of india) fixed deposit, how much interest per annum i will receive? should i deposit in single account or is it advisable to have multiple fixed deposit account?
At present interest rate of 8.5%, you would get Rs 25.5 lakhs every year. It really does not matter that you deposit in one or multiple accounts, as its easier for banks to figure it out total deposits of a customer in all the branches of the bank. In case you are looking to save some tax you might like to deposit on your family member’s names.
Do I have to own a bank account to put a fixed deposit ?
Its not necessary to have Saving bank account to open a fixed deposit account!