[nilesh]

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Can you tell in detail about the interest rates for Fixed Deposit (FD) Scheme offered by State Bank of Hyderabad, now merged with State Bank of India (SBI)?

[Vishal Kotkar]

State Bank of India (SBI) Fixed Deposit scheme offers short-term deposits with the shortest term being 30 days. SBI FD interest rates range from 5.25%pa to 7.25%pa compounded quarterly.

For 60, 90, and 120 days the fixed deposit rate in SBI is 6.5% pa. A 6 month period for fixed deposit gives an interest of 6.75% pa. The FD interest rate for a nine month period is 7% pa.

SBI also offers medium and long-term fixed deposit tenures. The tenure ranges from more than 1year to 5 years. The FD rate of interest for this scheme varies between 7% pa to 7.5% pa.

The rate on 1.6 & 2 years SBI FD fetches an added 0.5% pa interest making the total rate of interest 7.5%pa.

For Domestic Deposits - Less than Rs. 1 cr (As on Jul 01, 2017)

Maturity Period Deposit Amount Interest Rate (% P.A)
General Senior Citizen

7 days to 45 days Less than Rs. 1 cr 5.5 6
46 days to 179 days Less than Rs. 1 cr 6.5 7
180 days to 210 days Less than Rs. 1 cr 6.5 7
211 days to less than 1 year Less than Rs. 1 cr 6.5 7
1 year Less than Rs. 1 cr 6.75 7.25
Above 1 year to 455 days Less than Rs. 1 cr 6.5 7
456 days to less than 2 years Less than Rs. 1 cr 6.5 7
2 years to less than 3 years Less than Rs. 1 cr 6.25 6.75
3 years to less than 5 years Less than Rs. 1 cr 6.25 6.75
5 years and upto 10 years Less than Rs. 1 cr 6.25 6.75