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.
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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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