• State Bank of Hyderabad Fixed Deposit

    State Bank of Hyderabad is an associate bank of the State Bank of India and was founded in 1941. It became a subsidiary of SBI in 1956. The bank was established during the reign of Mir Osman Ali Khan, the last Nizam of Hyderabad and was originally called the Hyderabad State Bank. As it grew, the bank, in 1943, took over the Hyderabad Mercantile Bank and started conducting government treasury business as an agent of the RBI.

    Fixed Deposits of State Bank of Hyderabad

    SBH offers retail fixed deposits to its customers at attractive rates of interest and tenures that range from the short-term to the long-term. These deposits are devised to maximise returns on savings. The interest rates on these schemes are set in accordance to market movements and the banks fund requirements. It is always advisable to check interest rates on a periodic basis in addition to the unique features each scheme offers to avail the best scheme.

    Eligibility - Who can open an FD account with State Bank of Hyderabad?

    Any individual who is a resident of India can apply for FDs with SBH. NRIs can also apply for certain FD schemes offered by the bank.

    What Fixed Deposit Schemes does State Bank of Hyderabad offer?

    State Bank of Hyderabad offers its customers a wide variety of term deposit schemes to choose from. They have been designed to take care of the various needs customers may have. Some of these schemes are:

    • SBH Kuber 400 Days

      The SBH Kuber 400 scheme is a term deposit which has be designed to give a medium- term deposit with attractive interest rates. In this scheme the depositor can invest between ₹ 10,000 and ₹ 99,90,000. The tenure of the scheme is 400 days and carries no premature withdrawal penalty in case the deposit is withdrawn after the minimum 7 day period. This scheme is valid up to 31st March 2015.

    • Fixed Deposit Scheme

      This is a traditional fixed deposit scheme where depositors can invest their money in a FD which will then earn interest. The interest earned can be collected at monthly, quarterly, half-yearly or yearly intervals and also lets depositors withdraw the deposit prematurely. However, premature withdrawals may attract penalties on the interest.

    • Special Term Deposit Scheme

      These are fixed deposits that offer customers all the facilities that normal fixed deposits do. Under this scheme the interest earned can be reinvested in the term deposit at quarterly intervals. The interest and the principal are paid out when the deposit matures.

    • Super Saver Term Deposit Scheme

      Under this scheme, depositors can open term deposits either under the regular fixed deposit scheme or the Special Term Deposit scheme. The advantage of opening a Super Saver Term Deposit is that it offers higher interest rates for deposits made for 5 years to 10 years.

    • Senior Citizen Scheme

      As the name suggests, this scheme is designed to provide fixed deposits for senior citizens. To be able to open this term deposit the applicant must be a senior citizen which means that he or she must be over the age of 60 years. The advantage of this scheme is that the depositors gets an interest rate higher than those meant for other schemes.

    • SBH Tax Saver Scheme

      The SBH Tax Saver Scheme has been created to provide income tax benefits to depositors. Under this scheme investors can invest up to ₹ 1 lakh in a year. The tenure of this scheme is fixed at 5 years and above and no premature withdrawals are permitted.

    • Multi Option Deposit Scheme (MODS)

      This is a scheme where depositors can open FDs for a minimum of 1 year and a maximum of 5 years. It can be opened as a Special Term Deposit or a regular term deposit. The minimum amount that can be invested is ₹ 10,000. Any further invests are done in multiples of ₹ 1,000. An advantage of this scheme is that if you issue a cheque and the amount in your account is not enough to cover the cheque then the balance amount is withdrawn from the FD and paid. There are no penalties that will apply in such a situation.

    What is the minimum amount required to open an FD account with SBH?

    The minimum amount that is required to open an FD with SBH depends on the FD scheme that you opt for. It could range from a minimum of ₹ 10,000 to considerably lesser amounts for tax saver schemes.

    What is the maximum amount that can be deposited in a State Bank of Hyderabad FD account?

    There is no prescribed limit to how much you can deposit in a fixed deposit with SBH. They offer facilities for deposits in excess of ₹ 50 Cr also.

    What is the minimum / maximum period for which funds can be held as fixed deposits with State Bank of Hyderabad?

    The minimum period for which a term deposit can be held is 7 days and the maximum is 10 years. This, however, is subject to the scheme you are going to take and may vary accordingly.

    What is the procedure to open a fixed deposit account at State Bank of Hyderabad?

    If you wish to open a fixed deposit with State Bank of Hyderabad then all you have to do is use the BankBazaar website to get you started. On our site you will be provided with tools that will help you decide on the amount you want to invest and what its maturity value will be.

    Once you have decided on all the details, all you have to do is to download the application form. Fill it up and then submit it at the SBH branch closest to you.

    What are the interest rates offered on State Bank of Hyderabad fixed deposits?

    The interest rates offered for fixed deposits range from a minimum of 6.5% per annum to 8.85% per annum, depending on the amount deposited and the tenure of the FD. Apart from this they also offer higher interest rates for senior citizens.

    Does SBH offer tax saver fixed deposits?

    Yes, SBH does offer tax saver fixed deposits. They are called SBH Tax Saver Schemes and allow depositors to invest up to ₹ 1 lakh per annum in them. All deposits made under this scheme are liable for tax benefits under section 80C.

    Are FD accounts with State Bank of Hyderabad taxable?

    Yes. The interest earned on the fixed deposits held with the bank can be taxed as per existing tax rules unless documents supporting tax exemption are produced.

    What are the main features of SBH fixed deposit schemes?

    There are many advantages to opening fixed deposits with SBH. Some of them are:

    • Loans against fixed deposits
    • Attractive interest rates
    • Special interest rate for senior citizens
    • Tax benefits under section 80C
    • Nomination facilities

    Are loans provided against FDs at State Bank of Hyderabad?

    Yes, if you have a fixed deposit with SBH you can take a loan against it. However, fixed deposits held under the tax saver schemes cannot be used to secure loans.

    Does SBH offer senior citizens special rates on their fixed deposits?

    Yes. SBH offers senior citizens special interest rates of 0.30% above standard interest rates.

    Does State Bank of Hyderabad issue credit cards against fixed deposits held at State Bank of Hyderabad?

    No. SBH does not offer credit cards against fixed deposits held with them.

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    State Bank of Hyderabad Fixed Deposit Reviews

    • State Bank of Hyderabad Fixed Deposit
      0.5 5.0/5 "Blown Away!"
      State bank of Hyderabad is offering nearly 9% interest rate for the fixed despot with the minimum lock in period of five years. It is was converted into tax saver plan recently. The disadvantage is that we cannot take loan against the FD or withdraw the money in between the lock in period. .
      Was this review helpful? 9
      , hyderabad
      Reviewed on Mar 30, 2016
    • State Bank of Hyderabad
      State Bank of Hyderabad Fixed Deposit
      "Good "
      0.5 5.0/5 "Blown Away!"
      I have the fixed deposit account with the State Bank of Hyderabad and am having it from the last six years of time. The rate of interest is around 9% and the interest will be compounded half yearly. Tracking the fixed deposit with the SBH only by visiting the branch.
      Was this review helpful? 12
      , hyderabad
      Reviewed on Dec 12, 2015
    • State Bank of Hyderabad Fixed Deposit
      "Increase the rate of interest for deposit"
      0.5 4.0/5 "Great!"
      I have the fixed deposit with the State Bank of Hyderabad and am having it for 7 months to 8 months of time. I have done it through online and I felt as good for that. The rate of interest was around 8% and its less while compare with other banks.
      Was this review helpful? 8
      , gurgaon
      Reviewed on Dec 11, 2015
    • State Bank of Hyderabad Fixed Deposit
      "Good to me"
      0.5 5.0/5 "Blown Away!"
      SBH bank is very good in Fixed Deposit product. While in the time of renewing the interest rates were added on my account. But the rate of interests was very low with this bank. Since the bank branch is located near to my residence opened an small investment account with them.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Nov 12, 2015
    • State Bank of Hyderabad Fixed Deposit
      "Will not recommend.."
      0.5 1.0/5 "Really Bad"
      Just renewing the fixed deposit every year and seven years ago I started opening this with State Bank of Hyderabad. The branch is with in my premises and for any transaction it is good. Now the interest rate near about 8 to 9%. Fake currencies are exchanging in counter as that can be taken care.
      Was this review helpful? 6
      , bangalore
      Reviewed on Nov 07, 2015
    • State Bank of Hyderabad Fixed Deposit
      "Very much comfortable"
      0.5 5.0/5 "Blown Away!"
      SBH fixed deposit is fine. It was okay and I am very much comfortable with them its quite near to my place. I dont have any option , where I can place this request for FD was placed through the bank directly and I have my cheque in the morning by evening I got my FD certificate,
      Was this review helpful? 6
      , hyderabad
      Reviewed on Sep 25, 2015
    • State Bank of Hyderabad Fixed Deposit
      "Not providing online FD for special plans"
      0.5 3.0/5 "Satisfactory"
      I have been asking SBH for Kuber fixed deposit for higher interest rate than normal but bank people are asking me come to bank and do the fixed deposit manually and they are not providing through online. So requesting SBH people to update the software for special plans through online
      Was this review helpful? 16
      , bangalore
      Reviewed on Aug 19, 2015
    • State Bank of Hyderabad Fixed Deposit
      0.5 4.0/5 "Great!"
      I was holding a savings account with SBH its because of which I had opened this FD account. This was opened at the branch. They took hardly a days time to open this account. I did not submit any additional documents all I submitted was my photo, pan card and id proof . They also gave some guidance for the rates .
      Was this review helpful? 10
      , hyderabad
      Reviewed on Jul 25, 2015
    • State Bank of Hyderabad Fixed Deposit
      "Good & Prompt Services"
      0.5 5.0/5 "Blown Away!"
      The services of State Bank of Hyderabad is good as I have a fixed deposit with them. The response was immediate. The rate of interest provided was 9% for a year and there is also an option of auto renewal of the same. If in case if we wish so the fixed deposit can be closed anytime. There is no closing charges as well.
      Was this review helpful? 10
      , bangalore
      Reviewed on Nov 30, 2014
    • State Bank of Hyderabad Fixed Deposit
      "Felt happy"
      0.5 5.0/5 "Blown Away!"
      Feeling so happy about the fixed deposit services with State bank of Hyderabad. Interest rate is 9.15% which is good where the returns would be higher. It was only once I had deposited the amount and personally, I visit the branch and do it...
      Was this review helpful? 16
      , hyderabad
      Reviewed on Nov 24, 2014
    • State Bank of Hyderabad Fixed Deposit
      "On line system can be more upgraded"
      0.5 4.0/5 "Great!"
      With State bank of Hyderabad, I maintain fixed deposit which I would say its quite ok. In this bank, on line system is not much responsive as it takes time for all the requests whatever I do. However, I visit the branch where the customer service team guides and explains me well. Rate of interest is 10%.
      Was this review helpful? 4
      , pune
      Reviewed on Sep 23, 2014
    • State Bank of Hyderabad Fixed Deposit
      "Normal service"
      0.5 4.0/5 "Great!"
      Services are okay for my FIXED DEPOSIT account from State Bank of Hyderabad. But the customer service was not that much good. Their Interest rates are same in all banks . No concern on that . I can't recommend on much this bank. They receive the customer well and also they will help the customer to get the things right.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 01, 2014
    • State Bank of Hyderabad Fixed Deposit
      "SMS alerts can be generated"
      0.5 4.0/5 "Great!"
      I have two accounts with this bank, so the opening of fixed deposit was good. They have a very good schemes and rate of interest rate is good. After 7 years 7 months, there is an option of making the initial amount double. There is no need of waiting in such a long queue and one more is no need of filling the form. It would be nice if they send the SMS alerts regarding interest rate to the customers.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Jul 11, 2014
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