Categories: Bank FDFixed DepositFixed Income

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

SBI Fixed Deposit Rates from August 7, 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 August 07, 2012.

Below are the revised rates.

SBI Fixed Deposit Rates from August 7, 2012

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.

Loan Against Fixed Deposit: Loan at only 0.5% above the rate of deposit on term deposit

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.

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View Comments

Bhooshan says:

May 4, 2013 at 4:08 pm

If I deposit 10 lakhs in a bank means after the maturity of the fixed deposit will they deduct tax from only the interest or will they deduct some money from the deposited 10 lakhs also?
- Amit says:
  
  May 4, 2013 at 10:27 pm
  
  The tax is only deducted from the interest you earned and not on the original principal amount.