এই ব্যাংকে একাউন্ট থাকলে আপনি পাবেন 10 হাজার টাকা,দেখুন state bank of india fd interest rates 2021This. India’s largest lender State Bank of India offers eight maturity options for retail fixed deposits, or fixed deposits up to Rs 2 crore. The maturity period starts at seven days and extends to as long as 10 years. SBI offers interest rates of 2.9 percent to 5.4 percent to its general depositors and 3.4 percent.
- State Bank Of India Interest Rates 2018
- State Bank Of India Interest Rates
- State Bank Of India Interest Rates Nri
- State Bank Of India Interest Rates Term Deposit
- State Bank Of India Interest Rates For Senior Citizens
As you know that a Fixed Deposit (FD) is an investment option offered by banks that gives you higher rate of interest than a regular savings account. By investing in an FD, you can achieve your financial goals comfortably due to higher returns offered by it.
State Bank Of India FD provides an option to deposit lump sum amount for a specific period, ranging from 7 days to 10 years. You can choose any of the tenures offered by State Bank Of India FD according to your convenience and financial objective. As soon as you select the tenure and deposit the amount in State Bank Of India_ FD, it will start earning an interest based on the tenure of the deposit. Customer is allowed to deposit lump sum money into a fixed deposit only once into his FD account at the time of opening the account with the bank and afterwards he cannot deposit additional money in the same FD account.
You can also get tax benefits under section 80C of the Income Tax Act on an amount between Rs. 100 to 1.5 lakh by investing in State Bank Of India FD for a tenure of 5 years or more.
- The interest rates on “SBI Tax Savings Scheme 2006(SBITSS)” Retail Deposits and NRO deposits shall be aligned as per the proposed rates for domestic retail term deposits. However, NRO deposits of Staff are not eligible for additional 1% interest otherwise applicable to staff domestic retail deposits, these rates of interest shall also be.
- State Bank of India (California) is headquartered in Los Angeles and is the 79 th largest bank in the state of California. It is also the 1,035 th largest bank in the nation. It was established in 1982 and as of December of 2020, it had grown to 90 employees at 8 locations. State Bank of India (California) has a B health rating.
The largest Indian commercial bank, State Bank of India (SBI), has revised its fixed deposit (FD) interest rates in select maturity tenor. The SBI said that the new FD rates have become applicable from January 8, 2021 on all retail FDs which are under Rs 2 crore. SBI has also increa.
Following table provides you State Bank Of India FD Rates of various tenors. Also, given below is the facility/ option, through which you can calculate the interest rate and the maturity value of your State Bank Of India FD for different tenures by clicking on the 'calculate' button provided in the table.
State Bank Of India Fixed Deposit Interest Rates (as on 06 Mar 2021)
| Maturity Period | Interest Rate (p.a.) | Calculate Interest Rate |
|---|---|---|
| 30 Days | 2.90% | |
| 45 Days | 2.90% | |
| 60 Days | 3.90% | |
| 90 Days | 3.90% | |
| 120 Days | 3.90% | |
| 6 Months | 4.40% | |
| 9 Months | 4.40% | |
| 12 Months | 5.10% | |
| 2 Years | 5.10% | |
| 3 Years | 5.30% | |
| 4 Years | 5.30% | |
| 5 Years | 5.30% | |
| 10 Years | 5.30% |
Features & Benefits: State Bank Of India Fixed Deposit
- Competitive interest rates are offered with flexible FD tenures to suit your investment plan.
- FD account can be opened online or by visiting your nearest State Bank Of India branch.
- No cap on the Maximum Amount of FD
- FD Tenures: 7 days to 10 years
- Different interest payout options such as monthly, quarterly, etc.
- Loan/ Overdraft against FD facility is available upto 85% of the FD amount.
- Easy and fast liquidity options are available.
- Nomination facility is available.
- Tax benefit of amount up to Rs 1,50,000, through tax saving term deposit scheme
- Part withdrawal facility and auto-renewal facilities are also available
- Senior citizens can enjoy higher interest rate as compared to regular citizens
- NRE, NRO and FCNR deposit facility is offered by the bank
Who is Eligible for State Bank Of India Fixed Deposit
Any of the following persons is eligible to invest in fixed deposits (FD):
- Individual
- Minor
- HUF
- Proprietary Firm
- Partnership Firm
- Limited Liability Partnership (LLP)
- Company
- Association of Persons (AOP)
- Body of Individuals (BOI)
- Local Authority
- Trust
- Non-Resident Indian (NRI)
- Registered Society
Important Things to Know Before Investing in Fixed Deposits
- Always compare tenure-wise FD interest rates of different banks before finalizing the bank for opening an FD account, in order to get maximum interest rate on selected tenure.
- The tenure for most bank fixed deposits varies from 7 days to 10 years. You should choose the FD Tenure according to your convenience and objective behind investment.
- Opt for interest payout options such as monthly or quarterly, if required. Otherwise, choose cumulative option so that you can receive lump sum amount when FD gets matured.
- You can also avail loan or overdraft against FD, if you have immediate requirement of funds.
- If your annual income is non-taxable, you can submit Form 15G or Form 15H in order to avoid TDS.
- Don't forget to make nomination in your FD account.
- If you are a senior citizen then open your FD in a bank which offers extra interest of 0.25% to 0.75% to senior citizens.
- When you open fixed deposit online or offline, do not forget to give instructions on what to do on maturity of your FD. If you do not give any instruction, your fixed deposit will be renewed automatically on maturity.
Calculation of Interest on FD of State Bank Of India
Interest on FD for different tenures is calculated in following manner:
- Simple interest is paid at maturity for fixed deposit tenure of less than 6 months.
- Interest is calculated on a quarterly basis for fixed deposit tenure of 6 months & above.
- Cumulative Interest/ re-investment interest is calculated every quarter, and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well.
- In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the Standard FD Rate
State Bank Of India FD Interest Calculator
State Bank Of India FD Interest Calculator is an online financial tool that allows you to calculate the maturity value of your fixed deposit at the interest rate offered by bank. The amount of FD, interest rate, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.
Automatic Renewal of Bank FD
Bank FD matures on specific date. On maturity, if you have not given any specific instructions such as payout or renewal of FD, most of the banks automatically renew the FD for the same period for which it was initially made at the interest rate prevailing on the date of maturity of FD. This is called Automatic Renewal of Bank FD.
You should choose the option on the account opening form, if you do not want the bank to auto renew your FD. You have 2 options on the account opening form while depositing money in FD, first one is auto renew and second one is deposit of amount to your account after maturity. In case you have not mentioned any option on the account opening form then you will need to visit the bank branch on maturity day of your bank FD and opt for credit of the final proceeds of your bank FD into your savings account if you do not want an auto renewal of your FD.
Bank FD News Mar 2021
13-01-2020: SBI revised FD interest rate
SBI has announced a cut in retail fixed deposits of FD rates. The latest FD rates on SBI deposits is effective from 10th January 2020. The bank has cut the FD rates by 15 bps on long-term deposits maturing in 1 year to 10 years. Now FD interest rate for 7 to 45 days is 4.50%, for 46 to 179 days is 5.50%, for 180 days to 1 year is 5.80% and for 1 year to 10 years is 6.10%.
09-01-2020: Axis Bank reduced FD interest rate
Axis Bank reduced interest rates by up to 20 bps from January 9. FDs for less than Rs 2 crore and with the tenor of less than 1 year will earn 6.40%, for the tenor of 5 years to up to 10 years, FD rates is 6.50%.
07-01-2020: HDFC Bank deposits up by 25% (YoY) in 2019
The largest private sector lender HDFC Bank's deposits up by 25% (YoY) in 2019. Its deposits are at Rs 10.67 trillion as of December 31, 2019 growing by 25% as compared to Rs 8.52 trillion as of December 31, 2018..
24-12-2019: HDFC Bank revised FD interest rate
The revised rate for FDs maturing in 9 months 1 day to less than 1 year will be 6.05%. Term deposits maturing in 1 year to 2 years will fetch an interest rate of 6.3%, 2-3 years 6.40%, and 3 years to 10 years 6.3%.
01-12-2019: PNB cuts off FD rates
With effect from December 1, 2019, FDs for less than Rs 2 crore and the tenor of 271 days to below 1 year will be 6% for general customers and 6.5% for senior citizens. For the tenor of 5 years to up to 10 years, PNB has FD rates of 6.3% for general customers and 6.8% for senior citizens.
12-11-2019: ICICI Bank reduces FD interest rate
The interest rates on ICICI Bank FD for less than Rs 2 crore and the tenor of 185 days to 289 days will be 5.75%, for 5 years to up to 10 years will be 6.40% and 6.9% for senior citizens. Its interest rates will be effective from December 7, 2019.
Public Sector Banks FD Interest Rates
| Allahabad Bank | Andhra Bank | Bank Of Baroda |
| Bank Of India | Bank Of Maharashtra | Canara Bank |
| Central Bank Of India | Corporation Bank | Idbi Bank |
| Indian Bank | Indian Overseas Bank | Oriental Bank Of Commerce |
| Punjab National Bank | Syndicate Bank | Uco Bank |
| Union Bank Of India | United Bank Of India | Vijaya Bank |
| State Bank Of India | State Bank Of Mysore | State Bank Of Patiala |
| State Bank Of Travancore | State Bank Of Bikaner And Jaipur | Punjab And Sind Bank |
Private Sector Banks FD Interest Rates
| Axis Bank | Bandhan Bank Limited | Catholic Syrian Bank Limited |
| City Union Bank Limited | Dcb Bank Limited | Dhanalakshmi Bank |
| Federal Bank | Hdfc Bank | Icici Bank Limited |
| Idfc Bank Limited | Jammu And Kashmir Bank Limited | Indusind Bank |
| Karnataka Bank Limited | Karur Vysya Bank | Kotak Mahindra Bank Limited |
| Laxmi Vilas Bank | The Nainital Bank Limited | Rbl Bank Limited |
| South Indian Bank | Tamilnad Mercantile Bank Limited | Yes Bank |
| Equitas Small Finance Bank Limited | Ujjivan Small Finance Bank Limited | Utkarsh Small Finance Bank |
| Suryoday Small Finance Bank | Au Small Finance Bank Limited | Capital Small Finance Bank Limited |
| Esaf Small Finance Bank Limited | North East Small Finance Bank Limited | Fincare Small Finance Bank Ltd |
- Extremely competitive interest rates
- Variety of CD terms and accounts available
- High minimum deposit
- Limited physical locations
- Residents of New York looking for great rates
State Bank of India New York (SBI) is just one of the many overseas offices established under the original, Mumbai-based financial institution. Founded in 1806, State Bank of India currently offers more than 22,000 branches in India and operates 195 overseas offices. The New York office, which was founded in 1970, offers a variety of banking products. In addition, the office specializes in corporate credit, trade finance, and deposits and remittances. The bank’s deposit focus area covers products like checking accounts, money market accounts and certificate of deposit (CD) accounts. Furthermore, SBI’s CDs, which offer some of the best CD rates, come with terms ranging from three months to five years. They additionally branch into three different categories: Retail, Corporate and Senior Citizen certificates.
If you’re looking for more convenient banking options, SBI also offers an online banking feature. Through SBI’s online banking service, you can fulfill basic actions like opening accounts, making deposits or completing transfers.
SBI Retail Certificates
SBI’s Retail certificates function as the bank’s standard CD accounts. With terms from three months to five years, the Retail certificates require a $5,000 minimum to open. Additionally, the bank requires $5000 minimum for personal, U.S. based consumer accounts, while they require $10,000 for accounts of businesses. All Retail CD terms produce competitive interest rates. So if you don’t mind the $5,000 minimum, then you could significantly grow your wealth with a SBI account.
| Retail CD | Minimum Deposit | APY | |
| 3 Month | $5,000 | 0.10% | Compare CD Rates |
| 6 Month | $5,000 | 0.20% | Compare CD Rates |
| 12 Month | $5,000 | 0.50% | Compare CD Rates |
| 2 Year | $5,000 | 0.60% | Compare CD Rates |
| 3 Year | $5,000 | 0.70% | Compare CD Rates |
| 4 Year | $5,000 | 0.75% | Compare CD Rates |
| 5 Year | $5,000 | 0.90% | Compare CD Rates |
SBI Corporate Certificates
Similar to its Retail certificates, SBI also offers Corporate certificates with terms ranging from three months to five years. These CDs also require a minimum of $5,000 to open. Strictly for corporate deposits, these certificates additionally allow you to earn at a fixed-rate annual percentage yield (APY). This means that your money will grow at the same rate that you opened your CD with. While market fluctuations typically lead to varying rates, you’ll be locked into the same rate you started with.
| Corporate CD | Minimum Deposit | APY | |
| 3 Month | $5,000 | 0.10% | Compare CD Rates |
| 6 Month | $5,000 | 0.20% | Compare CD Rates |
| 12 Month | $5,000 | 0.25% | Compare CD Rates |
| 2 Year | $5,000 | 0.35% | Compare CD Rates |
| 3 Year | $5,000 | 0.40% | Compare CD Rates |
| 4 Year | $5,000 | 0.45% | Compare CD Rates |
| 5 Year | $5,000 | 0.60% | Compare CD Rates |
SBI Senior Citizen Certificates
The third and final CD rates option SBI offers are its Senior Citizen certificates. These CDs come with relatively shorter terms than the previously listed accounts. In addition, its maturities range from one to five years. Finally, the Senior Citizens CDs also allow users to earn at greater APYs than they would with the same maturities for SBI’s other two account options.
| Senior CD | Minimum Deposit | APY | |
| 12 Month | $5,000 | 0.60% | Compare CD Rates |
| 2 Year | $5,000 | 0.70% | Compare CD Rates |
| 3 Year | $5,000 | 0.80% | Compare CD Rates |
| 4 Year | $5,000 | 0.85% | Compare CD Rates |
| 5 Year | $5,000 | 1.00% | Compare CD Rates |
2-Year Retail CD Interest Rate Comparison
State Bank Of India Interest Rates 2018
Compare State Bank of India to Other Competitive Offers
Overview of SBI CDs
While most of SBI’s CD terms and rates are generally competitive, you’ll earn greater return with longer terms. In addition, all of SBI’s CD accounts offer great rates, so you’ll typically earn at decent APYs no matter which maturity you choose. Furthermore, all SBI CDs are FDIC-insured up to $250,000.
For withdrawals made on a CD before it reaches maturity, SBI charges early withdrawal penalties. For instance, if you make an early withdrawal on a CD with a maturity of at least five years, you’ll lose 180 days’ worth of interest. However, there’s an easier way for you to continue growing your wealth through a CD. You can do this by having your account automatically renewed. For instance, SBI will automatically renew your account unless you notify them otherwise.
How Much You Earn With SBI Certificate of Deposits Over Time
Though SBI offers high-yield rates, the bank compounds interest quarterly on all CD accounts. Therefore, your wealth won’t build upon itself as fast as it would if it were compounded daily or monthly. However, you’ll still earn at higher APYs with SBI than you would with other competitors. You can basically generate decent return no matter what term you choose. In addition, larger deposits will produce a greater return. However, you’re likely to generate more savings growth if you start with the 12-month maturity mark.
State Bank Of India Interest Rates
| Initial Deposit | 6-Month CD | 12-Month CD | 60-Month CD |
| $1,000 | $1,001 | $1,005 | $1,045.82 |
| $2,500 | $2,502.50 | $2,512.50 | $2,614.54 |
| $5,000 | $5,005 | $5,025 | $5,229.09 |
| $10,000 | $10,009.99 | $10,050 | $10,458.18 |
How SBI CD Rates Compare to Other Banks’
Though SBI provides highly competitive rates, other competitors like Capital One, also offer similarly high-performing rates when you compare CD rates. Additionally, though solely an online bank, Marcus by Goldman Sachs also generates comparably high interest rates.
State Bank Of India Interest Rates Nri
While SBI requires a $5,000 minimum deposit, Capital One doesn’t require any for its CDs. In addition, Capital One CD terms range from six to 60 months and compound interest monthly. Furthermore, Capital One allows you to invest in up to 50 CDs simultaneously, while SBI only authorizes you to invest in one.
Marcus by Goldman Sachs also offers similarly competitive rates. For a minimum deposit of $500, you’ll be able to select from a variety of CD terms. Marcus’ longer-term CDs also generate greater returns.
| CD Account | SBI (Retail) | Capital One | Marcus by Goldman Sachs |
| 6 Month | 0.20% | 0.20% | 0.60% |
| 1 Year | 0.50% | 0.20% | 0.55% |
| 3 Year | 0.70% | 0.30% | 0.55% |
| 5 Year | 0.90% | 0.40% | 0.60% |
State Bank Of India Interest Rates Term Deposit
Should You Get a SBI CD Account?
State Bank Of India Interest Rates For Senior Citizens
Overall, if you’re a resident of New York and don’t mind SBI’s $5,000 minimum deposit, you should consider opening one of its CDs. SBI offers highly competitive rates with three different CD account options for its users to select. In addition, each of its CD terms come with high-yield rates, so you can generally earn decent savings growth despite which term you choose.