The following schemes are available to investors under SBI fixed deposit plans. SBI Term Deposit Scheme – Investors can freely pick a maturity term ranging from 7 days to 10 years. The minimum investment is Rs. Loan against FD and early withdrawal options are available. Tax Saving SBI Fixed Deposit Plan – Here, the investment tenure.
Checking & Savings Accounts
- Currently, SBI gives 5.4 percent interest rate on five years FD for the general public. If a senior citizen puts a fixed deposit under the special FD scheme, then the interest rate applicable to.
- SBI had introduced the special fixed deposit scheme to offer a better interest rate to senior citizens on FDs of certain tenor. Moneycontrol News December 14, 2020 / 11:25 AM IST.
Deposit Account Type | Required Minimum Balance to Open | Required Balance to Obtain the Interest Rate and APY | Interest Rate | APY1 |
|---|---|---|---|---|
Basic Business Checking Account | $100 | NA | NA | NA |
Simple Business Checking Account | $100 | NA | NA | NA |
Prime Business Checking Account | $1,500 | NA | NA | NA |
Elite Business Checking Account | $5,000 | NA | NA | NA |
Interest Business Checking Account | $2,500 | $2,500 | 0.15% | 0.15% |
Attorney Client Checking Account | $100 | $100 | 0.15% | 0.15% |
Analysis Business Checking Account | $500 | NA | NA | NA |
Business Savings Account | $500 | $500 | 0.30% | 0.30% |
Hi Yield Interest Checking Account | $100 | $100 | 0.50% | 0.50% |
Easy Checking Account | $250 | NA | NA | NA |
Senior Checking Account | $100 | NA | NA | NA |
Student Checking Account | $25 | NA | NA | NA |
Remittance Registration Checking Account | $10 | NA | NA | NA |
Regular Personal Savings Account | $100 | $100 | 0.30% | 0.30% |
Hi Yield Advantage Savings
Personal Only
Required Minimum Balance to Open: $500
Tier | Minimum Balance to Open and Obtain APY | Interest Rate | APY1 | |
|---|---|---|---|---|
Savings Balance Tier 1 | $500 | $4,999.99 | 0.15% | 0.15% |
Savings Balance Tier 2 | $5,000.00 | $9,999.99 | 0.25% | 0.25% |
Savings Balance Tier 3 | $10,000.00 | $100,000.00 | 0.30% | 0.30% |
Savings Balance Tier 4 | $100,000.01 and above | 0.35% | 0.35% | |
Hi Yield Advantage MMDA
Personal and New Money Only
Required Minimum Balance to Open: $500
Tier | Minimum Balance to Open and Obtain APY | Interest Rate | APY1 | |
|---|---|---|---|---|
Savings Balance Tier 1 | $500 | $4,999.99 | 0.20% | 0.20% |
Savings Balance Tier 2 | $5,000.00 | $74,999.99 | 0.25% | 0.25% |
Savings Balance Tier 3 | $75,000.00 | $149,999.99 | 0.25% | 0.25% |
Savings Balance Tier 4 | $150,000.00 | $250,000.00 | 0.30% | 0.30% |
Savings Balance Tier 5 | $250,000.01 and above | 0.35% | 0.35% | |
Money Market Deposit Account (MMDA)
Personal and Business
Required Minimum Balance to Open: $500
Tier | Minimum Balance to Open and Obtain APY | Interest Rate | APY2 | |
|---|---|---|---|---|
MMDA Balance Tier 1 | $500 | $49,999.99 | 0.15% | 0.15% |
MMDA Balance Tier 2 | $50,000.00 | $99,999.99 | 0.25% | 0.25% |
MMDA Balance Tier 3 | $100,000.00 | $249,999.99 | 0.30% | 0.30% |
MMDA Balance Tier 4 | $250,000.00 and above | 0.35% | 0.35% | |
Premium Money Market Deposit Account (MMDA)
Personal and Business
Required Minimum Balance to Open: $100,000
Tier | Minimum Balance to Open and Obtain APY | Interest Rate | APY2 | |
|---|---|---|---|---|
MMDA Balance Tier 1 | $500 | $49,999.99 | 0.20% | 0.20% |
MMDA Balance Tier 2 | $50,000.00 | $99,999.99 | 0.25% | 0.25% |
MMDA Balance Tier 3 | $100,000.00 | $249,999.99 | 0.30% | 0.30% |
MMDA Balance Tier 4 | $250,000.00 | and above | 0.35% | 0.35% |
Sbi Term Deposit Rates
Certificate of Deposit (CD)
Sbi Tax Saving Fixed Deposit Rates
Regular Deposits | Institutional Deposits | ||||
|---|---|---|---|---|---|
Term | Minimum Balance to Open and Obtain APY | Interest Rate | APY2 | Interest Rate | APY2 |
8 days to less than | $1,000.00 | 0.15% | 0.15% | 0.15% | 0.15% |
3 months to less | $1,000.00 | 0.25% | 0.25% | 0.25% | 0.25% |
6 months to less | $1,000.00 | 0.35% | 0.35% | 0.35% | 0.35% |
1 year to less | $1,000.00 | 0.50% | 0.50% | 0.50% | 0.50% |
2 years to less | $1,000.00 | 0.50% | 0.50% | 0.50% | 0.50% |
3 years to less | $1,000.00 | 0.50% | 0.50% | 0.50% | 0.50% |
4 years to less | $1,000.00 | 0.50% | 0.50% | 0.50% | 0.50% |
5 Years + | $1,000.00 | 0.50% | 0.50% | 0.50% | 0.50% |
| Term | Minimum Balance to Open and Obtain APY | Interest Rate | APY2 |
|---|---|---|---|
1 Year | $1,000.00 | 0.50% | 0.50% |
2 Years | $1,000.00 | 0.50% | 0.50% |
3 Years | $1,000.00 | 0.50% | 0.50% |
4 Years | $1,000.00 | 0.50% | 0.50% |
| $1,000.00 | 0.50% | 0.50% |
1APY refers to Annual Percentage Yield and is accurate as of 12/22/2020. Interest is compounded daily and paid monthly. Interest is calculated and accrued daily based on the daily collected balances in the account. The account requires a minimum opening deposit based on tier and APY and is listed above. Rates may change at any time without prior notice, before or after the account is opened. Fees could reduce earnings on the account.
Sbi Deposit Rates 2020
2APY refers to Annual Percentage Yield and assumes interest remains on deposit until maturity. APY is accurate as of 12/22/2020. Rates are fixed for the term of CD. Interest is compounded quarterly and interest may be paid monthly, quarterly, annually or at maturity. The account requires a minimum opening deposit based on term and APY and is listed above. Interest begins to accrue on the business day you make your deposit. CD rates are subject to change at any time and are not guaranteed until CD is opened. A penalty may be imposed for early withdrawal. Fees could reduce earnings on the account.
For further information about terms and conditions, see the Personal Banking Schedule of Fees and Charges and Consumer Deposit Account Disclosure, call toll-free 1.877.707.1995, or visit a location near you.