State Bank of India Interest Rates

[Sudhakar]

State Bank of India Interest Rates

1. Domestic Term Deposits: The first one in the list is interest rates for domestic term deposits below one crore rupees.

Here is the table that has those rates.

Interest Rates for Deposits below Rs. One Crore
(% p.a.)

Tenors   Existing w.e.f.05.10.2009 (% p.a.)      Revised w.e.f.09.11.2009 (% p.a.)
15 days to 45 days   2.75   15 days to 45 days   2.50
46 days to 90 days   3.75   46 days to 90 days   3.50
91 days to 180 days   5.00   91 days to 180 days   4.75
181 days to less than 1 year   5.75   181 days to less than 1 year   5.25
1 year to less than 2 years   6.25   1 year to less than 2 years   6.00
2 year to less than 3 years   6.75   2 year to less than 3   6.50
3 year to less than 5 years   7.00   3 year to less than 5 years   6.50
5 years to less than 8 years   7.25   5 years to less than 8 years   7.25
8 years and up to 10 years   7.50   8 years and up to 10 years   7.50

2. Domestic Term Deposits for more than one crore rupees: If you have more than a crore to spare for a term deposit – you will get a different interest rate. Here is that table:

Interest Rates for Deposits of Rs. One Crore & Above
(% p.a.)

Tenors   Rates
w.e.f. 13.05.2009

Revised
w.e.f. 03.03.2010

7 days to 14 days   1.50   1.50
15 days to 30 days   2.00   2.00
31 days to 45days   2.25   2.25
46 days to 90 days   2.50   3.00
91 days to 180 days   3.00   3.50
181 days to 270 days   4.00   4.50
271 days to less than 1 year   4.50   5.00
1 year and above   5.00   6.00

3. Resident Indian Senior Citizens: Senior citizens get a slightly interest rate in India, but not if their deposit is more than a crore. Here is a table that shows these rates:

Tenors   Existing w.e.f.05.10.2009 (% p.a.)      Revised w.e.f.09.11.2009 (% p.a.)
15 days to 45 days   2.75   15 days to 45 days   2.50
46 days to 90 days   3.75   46 days to 90 days   3.50
91 days to 180 days   5.00   91 days to 180 days   4.75
181 days to less than 1 year   5.75   181 days to less than 1 year   5.25
1 year to less than 2 years   6.75   1 year to less than 2 years   6.50
2 years to less than 3 years   7.25   2 years to less than 3 years   7.00
3 years to less than 5 years   7.50   3 years to less than 5 years   7.00
5 years to less than 8 years   7.75   5 years to less than 8 years   7.75
8 years and up to 10 years   8.00   8 years and up to 10 years   8.00

4. SBI staff and pensioners: If you are a SBI employee or pensioner – you will get 1% extra on top of the regular interest rate. If you are a pensioner above 60 years old, then you will get dual benefit – 0.50% extra for senior citizens, and 1% extra for the staff.

5. Savings Bank Interest Rates: Savings account get an interest rate of 3.5%.