Retail Domestic term deposits

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Retail Domestic term deposits

Interest Rates On Retail Domestic term deposits (Below Rs. 2 crore)

Revision in Interest Rates on Retail Domestic Term Deposits (Below Rs. 2 crore) w.e.f. 27.12.2023

The revised interest rates are as under :

(Rates in % p.a)

	General Public		Senior Citizen
Tenors	Existing Rates for Public w.e.f. 15/02/2023	Revised Rates for Public w.e.f. 27/12/2023	Existing Rates for Senior Citizenw.e.f. 15/02/2023	Revised Rates for Senior Citizenw.e.f. 27/12/2023
7 days to 45 days	3.00	3.50	3.50	4.00
46 days to 179 days	4.50	4.75	5.00	5.25
180 days to 210 days	5.25	5.75	5.75	6.25
211 days to less than 1 year	5.75	6.00	6.25	6.50
1 Year to less than 2 years	6.80	6.80	7.30	7.30
2 years to less than 3 years	7.00	7.00	7.50	7.50
3 years to less than 5 years	6.50	6.75	7.00	7.25
5 years and up to 10 years	6.50	6.50	7.50	7.50*

*Including additional premium of 50 bps under ”SBI We-care” deposit scheme.

The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 30-September-2024.

SBI GREEN RUPEE TERM DEPOSIT is available for three specific tenors of 1111, 1777 & 2222 days, at 10 bps below Card Rate for Retail deposits.

Sarvottam (Non-Callable) Domestic Retail Term Deposits (above ₹1 crore to less than ₹2 crores) (Pre-Mature Payment not allowed):

• 30 bps over card rate for tenor 1 year
• 40 bps over card rate for tenor 2 years

Other Term and conditions as applicable
Link for details:https://bank.sbi/web/interest-rates/sarvottam-domestic-term-deposit

Last Updated On : Saturday, 06-04-2024

Interest Rates

8.50%* p.a. onwards

w.e.f. 05.04.2024

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Start From

11.15% p.a.*

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2.70% p.a.

less than Rs.10 Cr. w.e.f 15.10.22

3.00% p.a.

Rs.10 Cr. and above w.e.f 15.10.22

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Starts From 8.75%*

SBI Gold Loan

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2.70% p.a.

Balance below Rs. 10 crs

3.00% p.a.

Balance Rs. 10 crores and above

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8.15% p.a.*

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8.85% p.a.

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7.00%

2 years to less than 3year

6.50%

5 years and up to 10years

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Onwards

7% p.a.*

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Retail Domestic term deposits - Interest Rates (2024)

FAQs

What is domestic term deposit? ›

Term Deposits are one of the best investment options for people who are looking for a stable and safe return on their investments. In Term Deposits, the sum of money is kept for a fixed maturity and the depositor is not allowed to withdraw this sum till the end of the maturity period.

Read On ›

What is a retail term deposit? ›

Term deposits are usually short-term deposits with maturities ranging from one month to a few years. Typically, term deposits offer higher interest rates than traditional liquid savings accounts, whereby customers can withdraw their money at any time.

Discover More Details ›

What are the best interest rates for term deposits? ›

Highest 12-month term deposit rates

Provider	Rate
	5.10%
G&C Mutual Bank	5.05%
AMP Bank	5.00%
Auswide Bank	5.00%

3 more rows

Which bank gives 7% interest on savings accounts? ›

As of May 2024, no banks are offering 7% interest rates on savings accounts. Two credit unions have high-interest checking accounts: Landmark Credit Union Premium Checking with 7.50% APY and OnPath Credit Union High Yield Checking with 7.00% APY.

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Is domestic term deposit same as fixed deposit? ›

A term deposit is often used when the deposit is extended for a certain period, say 3 months, 6 months etc. Fixed deposits, on the other hand, are used when the deposit is for a period of 6 months or greater than that. The deposit amount offers a higher rate of return as compared to the banks' savings accounts.

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Is a term deposit a good idea? ›

Term deposits are a safe way to lock away money. But you could earn more by investing it elsewhere. You may be able to earn more money by investing in property or shares, but are at greater risk of losing it.

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What is the risk of retail deposits? ›

Retail Deposits Risk

Unexpectedly large volumes of deposit outflows from individuals, which may create Liquidity Risk. This might be less severe than Wholesale Funding Risk due to the smaller amounts involved.

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What is the difference between a bank deposit and a term deposit? ›

Unlike term deposits which have a fixed interest rate, savings accounts generally have a variable interest rate, so will be dependent on market conditions. That means if interest rates go down you won't earn as much interest; of course, if interest rates do go up, you'll be able to benefit from getting a higher rate.

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What is an example of a term deposit? ›

Term Deposit Example

For example, if you choose to invest ₹25,000 for three years at a 7.1% annual interest rate, a cumulative TD would have a maturity value of ₹30,712. Interest is earned at a rate of 7.1% per year. Non-cumulative TDs, on the other hand, pay out interest on a regular basis and lose compounding power.

What is better than a term deposit? ›

While term deposits can be used for this purpose, a high interest savings account allows you instant access to your cash at any time and may offer a better interest rate than a shorter-length term deposit. These are goals you are planning to accomplish within the next one to five years.

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Do term deposits pay interest monthly? ›

Fixed term deposits may be a good savings account option if you want a low-risk investment and are happy to earn a fixed interest rate over a fixed investment term without access to your funds. Depending on the term, you can choose to receive interest monthly, twice yearly, annually or at maturity.

Read The Full Story ›

Which bank pays the highest interest on deposits? ›

Comparison of FD rates

AXIS Bank. 5.75% - 7.00%
SBI Bank. 4.75% - 6.50%
Equitas Bank. 3.50% - 7.25%
HDFC Bank. 4.50% - 7.00%
ICICI Bank. 4.50% - 6.90%
Canara Bank. 5.50% - 6.70%
Bank of Baroda. 5.50% - 6.50%
Punjab National Bank. 4.50% - 6.50%

More items...

See Details ›

Where can I get 8% interest on my savings? ›

The ones below [Saffron and Coventry building societies] aren't. So Nationwide pays the most interest – 8% for one-year variable. This will be the one that Tania should go for. The monthly amount, well, you don't have to contribute each month, that's why it says nought.

Get More Info Here ›

How do I get 10% interest on my money? ›

Where can I get 10 percent return on investment?

Invest in stocks for the short term. ...
Real estate. ...
Investing in fine art. ...
Starting your own business. ...
Investing in wine. ...
Peer-to-peer lending. ...
Invest in REITs. ...
Invest in gold, silver, and other precious metals.

More items...

Where can I get 5% interest on my savings account? ›

Nationally Available High Interest Account Rates from Our Partners

Account Name	APY (Annual Percentage Yield) Accurate as of 5/10/2024
UFB Secure Savings	5.25%
CIT Bank Platinum Savings	5.00% (with $5,000 minimum balance)
Wealthfront Cash Account	5.00%
Barclays Online Savings Account	4.35%

2 more rows

3 days ago

What are the three types of term deposits? ›

How many Types of Term Deposits?

Company Deposits: Company Fixed Deposits are offered by Financial and Non-Banking financial companies (NBFCs). ...
Senior Citizen Term Deposits: Offers a higher interest rate than other Term Deposits for 60+ aged people. ...
NRI Term Deposits: ...
Tax-Saving Term Deposits:

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Why would someone use a term deposit? ›

The accrued interest from a Term Deposit could help you save for big purchase like a car or house. You will typically see higher interest rates offered on Term Deposits than on savings and transaction accounts, which could make it an appealing option for people looking to accelerate their savings.

What is the difference between FDR and TDR? ›

FDR measurements are built up over time by measuring reflected steady-state amplitude and phase over numerous discrete frequencies, while TDR measurements are instead built up by measuring reflected voltage at discrete moments in time.

Learn More ›

Retail Domestic term deposits - Interest Rates (2024)

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