Categories: Bank FDFixed DepositFixed Income

SBI NRE/NRO, Senior Citizen, Domestic Term Deposit Rates – June 2012

India’s largest bank State Bank of India (SBI) has reduced its NRE/NRO, Senior Citizen, Domestic Term Deposit Rates by 0.25% for certain tenures from June 08, 2012.

SBI will offer 7% for fixed deposits up to six months as against 7.25%.
On seven-to-eight month deposits, rates have been reduced to 7.25% from 7.5%.
Long-term rates have been left unchanged.

Below are the revised rates.

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.

Amit

Hi Readers! I am Amit, the mind behind Apnaplan.com I am MBA from NITIE, Mumbai and BIT from Delhi University. This blog is my online diary where I write about my tryst with my investment decisions. In the 400+ posts on this blog you will find articles on Personal Financial Planning, Investments, Retirement Planning, Insurance, Loans, Fixed Deposits, Provident Funds, Stock Markets, Gold, Silver, Real Estate Investment, Credit Cards, Credit Score, Taxation, Inheritance Planning and Reviews on various Financial Products.