SBI Term Deposit (FD) Rates – March 28, 2012

State bank of India (SBI) has increased its short term Fixed Deposit (FD) rates by 1% from March 28, 2012. Its expected more banks would follow deposit rate hikes. This hikes comes after Government announced Interest rate hikes in the range of 0.2% – 0.5% on small savings schemes such as public provident funds (PPF), post office deposits and National Savings Certificate (NSC).

You can find the new rates here. 

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.

About Amit

Hi Readers! I am Amit, the mind behind I am MBA from NITIE, Mumbai and BIT from Delhi University. This blog is my online diary where I write about my tryst with my investment decisions. In the 400+ posts on this blog you will find articles on Personal Financial Planning, Investments, Retirement Planning, Insurance, Loans, Fixed Deposits, Provident Funds, Stock Markets, Gold, Silver, Real Estate Investment, Credit Cards, Credit Score, Taxation, Inheritance Planning and Reviews on various Financial Products.

One thought on “SBI Term Deposit (FD) Rates – March 28, 2012

  1. […] a fixed deposit account with SBI offering 9.25% interest and invest Rs. 3.2 Lakhs. At the end of 5 years this FD would give me Rs. 5 Lakh. So investing Rs. […]

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