SBI NRE/NRO, Senior Citizen Fixed Deposit Rates – March 2013

State Bank of India (SBI) had increased its fixed deposit rates by 0.25% on certain maturities from March 1, 2013.

With the revision, the interest rate on 1-2 years fixed deposit would go up to 8.75 per cent, from 8.50 per cent. Similarly, term deposit 2-3 years, 3-5 years and 5-10 years would also earn higher interest rate of 8.75 per cent. However, the bank has left interest rate unchanged for deposits less than 1 year.

The bad news is there is no increase in Fixed Deposit rates for Senior Citizens as  SBI has reduced the premium in interest rates from 0.5% to 0.25% for them.

The last revision in SBI Fixed Deposit Rates was done in September 2012.

SBI NRE-NRO, Senior Citizen, Domestic Fixed Deposit Rates – March 2013

SBI NRE-NRO, Senior Citizen, Domestic Fixed Deposit Rates – March 2013

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.

Loan Against Fixed Deposit:

Loan at only 0.5% above the rate of deposit on term deposit

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