News About State Bank of Mysore Fixed Deposit Rates

• FD Rates Revised by SBM

  State Bank of Mysore has revised the rates of interest for fixed deposits on and from 1st August, 2016. For tenure of 7 days to 45 days, the rate has gone down by 0.25%. Previously it was 5.75% and now it is 5.50%. For tenure of 46 days to 90 days, the rate of interest has gone up by 0.25%. Previously, it was 6.25% and currently the rate stands at 6.50%. Tenure of 180 days to 1 year has been divided into two separate tenures now. Tenure of 180 days to 210 days can earn a rate of 6.75% and the tenure of 211 days to less than a year can earn interest rate of 7%.

  

  13th September 2016

• Fixed Deposit Rates for State Bank of Mysore

  Banks are slowly catching up to making revisions as far as the reduction of base rates are concerned, keeping in line with the directives of the Reserve Bank of India.

  State Bank of Mysore has made a few changes to its fixed deposit offerings pertaining to the slots of tenures and the rates themselves. From 7 days to 90 days, the active rate of interest is 6.50% as opposed to 6.25% per annum. It is scaled up by 0.50% for the tenure of 91 days to 179 days to reflect a rate of 7% per annum. From 180 days to less than a year, the active rate of interest is 7.5% per annum and a further increase of 0.25% happens for the tenure of 1 year up to 5 years. This is currently the highest rate of interest on offer from the bank. For periods more than 5 years till 10 years, the rate of interest slips back to 7.5% per annum. These rates are for deposits of INR 1 crore or less.

  

  23rd February 2016