• State Bank of Mysore Fixed Deposit Rates

    State Bank of Mysore (SBM), which merged with State Bank of India (SBI) offers a number of fixed deposit (FD) options and comes with a wide range of tenure options and competitive interest rates.

    All changes made to interest rates on the banks FDs are constantly monitored and updated in the table below to enable real-time comparison of maturities based on the latest rates.

    SBM merger with SBI

    State Bank of Mysore (SBM) has entered into a merger with the State Bank of India (SBI) with effect from 6 May, 2017, post which:

    • It has been a part of the SBI wholly
    • This merger happened when the SBI merged with a number of other associate banks in the country.
    • All customers who have a SBM account will have to mention the new IFSC codes and mention their bank name as State Bank of Mysore.

    SBM Bank Domestic & NRO Term Deposit Rates for Less than Rs.2 crore

    Period Interest Rate
    7-14 days 2.50%
    15-30 days 2.50%
    31-45 days 3.00%
    46-60 days 3.00%
    61-90 days 3.00%
    91-120 days 4.25%
    121-180 days 4.50%
    181-210 days 5.00%
    211-269 days 5.00%
    270 below 1 year 5.50%
    1 year to 389 days 6.50%
    390 days 6.50%
    391 days to 15 months 6.50%
    > 15 months to 18 months 6.50%
    > 18 months to 2 years 6.50%
    > 2 years up to 3 years 6.50%
    > 3 years up to 5 years 6.00%
    > 5 years up to 10 years 6.25%

    Note: Senior citizens residing in India get an additional interest benefit of 0.50%

    SBM Bank Domestic & NRO Term Deposit Rates for Rs.2 crore to Rs.5 crore

    Tenure Interest Rate
    Callable Non-Callable
    7-14 days 2.50% 2.50%
    15-30 days 2.50% 2.50%
    31-45 days 3.00% 3.00%
    46-60 days 2.60% 3.00%
    61-90 days 2.60% 3.00%
    91-120 days 3.85% 4.25%
    121-180 days 4.10% 4.50%
    181-210 days 4.60% 5.00%
    211-269 days 4.60% 5.00%
    270 below 1 year 5.10% 5.50%
    1 year to 389 days 6.10% 6.50%
    390 days 6.10% 6.50%
    391 days to 15 months 6.10% 6.50%
    > 15 months to 18 months 6.10% 6.50%
    > 18 months to 2 years 6.10% 6.50%
    > 2 years up to 3 years 6.10% 6.50%
    > 3 years up to 5 years 5.60% 6.00%
    > 5 years up to 10 years 5.60% 6.00%

    Note: Senior citizens residing in India get an additional interest benefit of 0.50%

    State Bank of Mysore NRI FD Rates

    Interest rates for NRE term deposits below Rs.2 crore (w.e.f. 21 October 2021)

    Period Interest Rate
    1 year to 389 days 6.50%
    390 days 6.50%
    391 days to 15 months 6.50%
    > 15 months to 18 months 6.50%
    > 18 months to 2 years 6.50%
    > 2 years up to 3 years 6.50%
    > 3 years up to 5 years 6.00%
    > 5 years up to 10 years 6.25%

    Features and Benefits of State Bank of Mysore Fixed Deposits:

    • The SBM bank has FD options for both resident as well as non-resident Indians and offers attractive rate of interest on short-term as well as long-term deposits. Senior citizens residing in India get an additional 0.5% interest benefit.
    • There are tenure options available from 7 days to up to 10 years along with premature withdrawal facility.
    • The depositor can also avail loan against the FD from the SBM bank.

    Documents Required for SBM bank fixed deposit:

    1. Address proof.
    2. PAN card.
    3. Residential proof.
    4. Passport size photograph.

    FAQs on State Bank of Mysore Fixed Deposit Rates

    1. What is the highest and lowest rate of interest on FD schemes by the State Bank of Mysore?

      The highest rate of interest offered by the SBM is 6.10% and the lowest is 2.50%.

    2. What is the special rate of interest for senior citizens?

      The senior citizens get an additional interest benefit of 0.5%.

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