A government-owned corporation, the State Bank of India or SBI currently has over 14,000 branches across the country. The State Bank of India has over 150 branches across the world from Toronto and Frankfurt to Hong Kong and Los Angeles among others.
State Bank of India Fixed Deposits for NRIs
The SBI offers attractive fixed deposit schemes. By availing of the various fixed deposit schemes such as NRE, NRO and FCNR, customers can fulfil their need for a safe financial future without depleting their capital investments. SBI offers different rates of interest for deposits below Rs.1 crore and above Rs.1 crore.
SBI NRE Fixed Deposit Interest Rates
(with effect from October 5th, 2015)
The following table displays the interest rates for Non Resident External Account (NRE) Fixed Deposits offered by SBI
| Tenure |
Below Rs.1 crore |
Above Rs.1 crore |
| 365 to 455 days |
7.25% |
7.25% |
| 2 to 3 years |
7.5% |
7.5% |
| 3 to 5 years |
7% |
7% |
| 5 to 10 years |
7% |
7% |
*Interest Rates are subject to change without notice. Please contact nearest bank branch for details
The following table shows the interest rates applicable for premature withdrawal for NRE (Non Resident External Account) fixed deposits offered by SBI
| Below Rs.1 crore |
Above Rs.1 crore |
| No interest in case the fixed deposit is withdrawn under one year. |
No interest in case the fixed deposit is withdrawn under one year |
| Upon premature withdrawal after a period of one year, interest is paid for the period the amount or deposit has remained with SBI or penalty (contracted rate less) as listed below (whichever is lower) |
| Deposits |
Penalty |
| Prior to January 1st, 2012 |
1% |
| From January 1st 2012 to April 9th, 2015 |
0.5% |
| From April 10th 2015 |
1% |
*Interest Rates are subject to change without notice. Please contact nearest bank branch for details
SBI NRO Fixed Deposit Interest Rates
(with effect from October 5th, 2015)
The following table displays the
NRO Deposit Rates
| Tenure |
Below Rs.1 crore |
Above Rs.1 crore |
| 7 to 45 days |
5.25% |
5.25% |
| 61 days to 179 days |
6.50% |
6.50% |
| 211 days to less than 1 year |
7.00% |
7.00% |
| 1 year to 455 days |
7.25% |
7.25% |
| 3 years and up to 10 years |
7.00% |
7.00% |
*Interest Rates are subject to change without notice. Please contact nearest bank branch for details
The following table shows the interest rates applicable on premature withdrawal of NRO deposits
| Below Rs.1 crore |
Above Rs.1 crore |
| No interest is paid if the amount is withdrawn under one week |
No interest is paid if the amount is withdrawn under one week |
| No penalty for up to Rs. 5 lakh, for premature withdrawal, if the deposit has remained with SBI for 7 days |
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Premature withdrawal
The following table shows rates applicable on premature withdrawal
| Upon premature withdrawal after a period of one year, interest is paid for the period the amount or deposit has remained with SBI or penalty (contracted rate less) as listed below (whichever is lower) |
| Deposits |
Penalty |
| Before April 10th, 2015 |
0.5% |
| From April 10th 2015 |
1% |
SBI FCNR Deposit Interest Rates
The following table displays the FCNR deposit rates
| CURRENCY | USD (RATE) | USD (YIELD) | EURO (RATE) | EURO (YIELD) | AUD (RATE) | AUD (YIELD) |
| 1 year to less than 2 years | 1.71 | 1.76 | 0.15 | 0.15 | 2.43 | 2.51 |
| 2 years to less than 3 years | 2.06 | 2.14 | 0.30 | 0.31 | 2.61 | 2.74 |
| 3 years to less than 4 years | 2.11 | 2.22 | 0.30 | 0.31 | 2.61 | 2.77 |
| 4 years to less than 5 years | 2.16 | 2.30 | 0.30 | 0.31 | 2.82 | 3.05 |
| 5 years | 2.21 | 2.36 | 0.40 | 0.41 | 2.84 | 3.07 |
*Annualised yields
*Interest Rates are subject to change without notice. Please contact nearest bank branch for details
No interest is payable in case the deposit is withdrawn under one year. In case the deposit is withdrawn after a period of one year, interest will be paid at 1% below contracted rate or 1% below the applicable rate for the period the amount has remained with SBI (whichever is lower).
Updated on 27 Sep 2016
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