• State Bank of Travancore Fixed Deposit Rates

    SBT merger with SBI

    State Bank of Travancore, along with other associate banks, merged with SBI from April 1, 2017. The following were the changes that have occurred following the consolidation:

    • The other banks that merged with SBI include State Bank of Hyderabad, State Bank of Patiala, State Bank of Travancore, and State Bank of Bikaner and Jaipur
    • SBT has now wholly become a part of SBI
    • All old IFSC codes will change and customers will have to start using new IFSC codes and cheque books as soon as possible

    State Bank of Travancore short-term FD rates

    • The highest rate of interest offered on short-term fixed deposits is 6.40% per annum for regular citizens and 6.90% per annum for senior citizens.
    • This is applicable for a tenure of more than 7 months and less than 12 months.

    State Bank of Travancore medium-term FD rates

    • For medium-term fixed deposits, the interest offered is 6.80% per annum for regular citizens and 7.30% for senior citizens. The tenure ranges from 1 year to 5 years.

    State Bank of Travancore long-term FD rates

    • The interest offered is 6.85% per annum for regular citizens and 7.35% per annum for senior citizens. Tenure for long-term deposit ranges from 5 years to 10 years.

    Know more about State Bank of Travancore fixed deposits

    How to apply for State Bank of Travancore FD: After the SBI entered into a merger deal with SBT and other banks, prospective customers will be able to apply for a fixed deposit scheme online through the SBI website. The process of applying for a time deposit is fast, easy and hassle-free. Account holders with an active internet banking account can initiate the process of opening an FD.

    Tax saver FDs: Those who are seeking tax benefits can apply for the 5-year tax saving fixed deposit and get numerous benefits provided by the respective scheme. This type of FD is quite a safe investment but comes with a mandatory lock in period of 5 years.

    NRIs term deposits: Even Non-Resident Indians (NRIs) have the opportunity to invest in NRI deposits such as NRO and NRE. These pay interest at attractive rates and offer those living outside the country a good way to earn tax-free returns on their investments.

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