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:
| 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%
| 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%
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% |
The highest rate of interest offered by the SBM is 6.10% and the lowest is 2.50%.
The senior citizens get an additional interest benefit of 0.5%.
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