Now you can earn a higher income on your surplus funds by investing those with State Bank of India (SBI). SBI provide security, trust, competitive rate of interest and Flexibility in period of term deposit or fixed deposit ranging from 15 days to 10 years.
Affordable, Low, Minimum Deposit Amount for SBI fixed deposit of Rs.1000/- only.
Flexibility in choosing the amount you wish to invest and the maturity period.
Features and benefits with SBI Fixed Deposits
SBI understands the value of your hard earned money and continue to deliver on their promise of safety and security for over 200 years.
Liquidity Loan /overdraft facility
You can avail a loan/overdraft against your Fixed deposit.SBI provides you loan / overdraft upto 90% of your Fixed deposit amount at nominal cost. So you continue to earn interest in your fixed deposit and still can meet your urgent financial requirements.
Interest to be charged on premature withdrawal of term deposits or fixed deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank.
Transfer of Term Deposits or Fixed Deposits between SBI wide networks of branches without any charge.
Compounding / Flexible / Timely Payment of Interest
Under SBI Special Term Deposit Scheme, interest accrues in your account and gets compounded quarterly. Besides, SBI assures timely delivery of the proceeds of your deposit with interest, on maturity. Flexibility of payment on maturity through Cash (subject to prevalent Income Tax Act), Banker's Cheque, Credit in Savings /Current account.
Tax Deductible at Source as per Income Tax Act.
There is no need for you to keep track of the maturity of your fixed deposits. Your fixed deposits with SBI will be renewed automatically, post maturity, and you continue to earn interest for same period as that of your matured deposit, at the interest rate prevailing at the time of maturity. Automatic renewals take place where there are no standing instructions for renewal.