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

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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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3 thoughts on “SBI NRE/NRO, Senior Citizen Fixed Deposit Rates – March 2013

  1. [...] fall in Bank FD Rates but on the contrary FD rates have been increased by 0.25% by banks like State bank of India (SBI) and [...]

  2. […] used to give at least 0.5% more interest to senior citizens. But things are changing now. Recently State Bank of India (SBI) and Punjab National Bank (PNB) have revised their fixed deposit rates and have reduced the interest […]

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