Sbi Fixed Deposit Interest Rates 2019



Rates

Get details on SBI Bank Loan Against Fixed Deposit ✔ Interest Rates ✔ Processing Fee ✔ Loan Amount ✔ Tenure ✔ Margin ✔ Features ✔ Benefits.

Single account holder can avail overdraft TDR and STDR online through internet banking, avail loan upto 90% of deposit. Loan amount for online overdraft against FD is Rs 25000 to Rs 5 Crore.

Table of Contents

If you’re an NRI and are looking for a safe investment avenue, you should consider SBI NRI fixed deposit schemes. There are 4 broad types of NRI FDs available, viz. SBI NRE FD, SBI FCNR Deposits, SBI NRO Fixed Deposits and SBI RFC Deposit Scheme. The country’s largest lender, State Bank of India (SBI) once again announced to cut its Fixed Deposit rates for certain tenors on Monday. The highest interest rate offered by the SBI is now just. SBI revises fixed deposit (FD) interest rates. Check latest rates here 2 min read. Updated: 09 Oct 2019, 11:13 AM IST Sangeeta Ojha. SBI's new FD interest rates will come into effect from 10. SBI Bank FD Rates: Earn fixed deposit rate of interest up to 5.40% for regular & 6.20% for senior citizens. Check current State Bank of India fd rates for 2021.

  • 1 SBI Loan Against Fixed Deposit Details

SBI Loan Against Fixed Deposit Details

Fee & Charges of SBI Loan Against Fixed Deposit

Interest Rate1% above the relative time deposit rate.
Amount of LoanMinimum Rs 25000 to Maximum Rs 5 Crore.
Processing feeNil.
Repayment PeriodUpto 5 years.
MarginAvail loan up to 90% of your Time Deposit value.
Type of loanDemand Loan & Overdraft.

Eligibility to Avail SBI Loan Against Fixed Deposit

Customers (Single/ Joint Account Holder) holding SBI’s TDR/STDR / RD / including NRE/NRO/RFC and FCNR(B) Deposit can avail this loan. Single Account Holder can also avail Overdraft against TDR and STDR online through Internet Banking platform.

SBI Loan Against Fixed Deposit Advantage

  1. Loan up to 90% of the value of term deposit.
  2. Both Demand Loan and Overdraft Facility as per your need.
  3. Low interest rates.
  4. Interest rate on a daily reducing balance.
  5. Zero processing charges.
  6. No prepayment penalties.

Important Points About Loan Against Fixed Deposit From SBI

  1. The tenor cannot exceed 5 years.
  2. You cannot avail loan/overdraft facility against tax-saving fixed deposit (with a lock-in of 5 years).
  3. Banks provide loans only against their fixed deposits.
  4. SBI minimum amount 25,000 has an upper cap at Rs 5 crore.
  5. Suitable repayment schedule will be fixed depending upon the repayment capacity of the borrower. Maximum repayment period upto 5 years against STDR/e-STDR and upto 3 years against TDR/e-TDR respectively for Overdraft availed online

FAQs

How much overdraft limit can be availed – The customer will be able to avail 90% of his e-STDR / STDR value and 75% of his e-TDR / TDR as Overdraft facility on the Internet banking platform. At Branch level the customer can avail 90% of his underlying security value as Demand Loan/ Overdraft facility.

Minimum and maximum overdraft limit – The minimum loan amount for availing overdraft facility is Rs 25,000 and maximum overdraft limit can be availed against your Fixed Deposits Rs 5 Crore.

Sbi Fixed Deposit Interest Rates 2019 For Senior Citizens

Overdraft be availed in joint name – No, currently only Customer holding TDR/STDR/e-TDR/e-STDR with SBI in Single name only can avail the facility online. Joint Account Holders have to visit SBI Branches for availing facility.

Repayment period – The maximum repayment period overdraft against e-STDR / STDR is 5 years, maximum repayment period overdraft against e-TDR / TDR is 3 years (residual period which is less, subject to minimum of 6 months).

Rates

Sbi Fixed Deposit Interest Rates 2019 Table Chart

SBI Loan Against Fixed Deposit

State Bank Of India Fixed Deposit Interest Rate Calculator calculates the interest earned on a fixed deposit with the help of outlined components:

(1) Deposit Amount

It is an amount which an FD account holder wants to invest in the fixed deposit. It is also called principal. It is to be remembered that this amount can be deposited only once hence you have to decide the amount to be invested according to your investment objectives.

Sbi Fixed Deposit Interest Rates 2019

Sbi Fixed Deposit Interest Rates 2019 Tax

(2) Interest Rate

It is the rate of interest offered by the bank where you open the FD. It differs for different tenures. Once FD is opened for a specific tenure then the interest rate will remain the same for the whole tenure.

(3) Term of Deposit (FD Tenure)

It is the duration for which the amount is invested in an FD which may vary from 7 days to 10 years. In the calculator, you can select the tenure in days, months or year.

(4) Compounding of Interest

Sbi Fixed Deposit Interest Rates 2019

Interest can be compounded on monthly, quarterly, half yearly or annual basis. It can be a simple interest as well. You need to enter it based on the offer by the bank.