SBI Recurring Deposit Interest Rate – Aug 2012

State Bank of India (SBI) has come out with its advertisement on Recurring Deposit showing its interest rates, maturity value of Rs 1,000 invested and more.

SBI Recurring Deposit Scheme – Features:

• Maturity from 12 to 120 Months
• Nomination facility available
• Loan against security of the balance in the Recurring Deposit accounts available to the extent of 90% of the deposit, at 0.5% p.a. above the rate of deposit
• No TDS (Tax deduction at source) on interest income
• Passbook Issued
• Hassle free premature spot payment anytime
• Senior citizens get additional 0.5% interest rate.

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SBI Recurring Deposit Interest Rate:

1. For tenor of 1-5 years – 9% for general and 9.5% for senior citizens
2. For tenor of 5-10 years – 8.5% for general and 9% for senior citizens

SBI Recurring Deposit Maturity value:

The table below shows the maturity value for Rs 1,000 monthly deposit.

Click here For more information on Recurring deposit.

Here is the advertisement: