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  • State Bank of Travancore Fixed Deposit Rates is Rated as "Excellent!" by 4 Users

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    rated 4.5/5.0 by 4 users

    State Bank of Travancore Fixed Deposit Rates

    State Bank of Travancore (SBT) became a part one of India’s largest public sector banks, State Bank of India (SBI), after it merged with five associate banks in 2017. The bank recently revised its interest rates and offers customers a wide range of deposit options to choose from. The highest term deposit rate paid is 6.75% p.a. for a tenure that is anywhere from 5 years to 10 years. For senior citizens, the highest rate paid by SBT is 7.25% p.a. for the same tenure range.

    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

    Note: The FD rates of State Bank of Travancore are the same as that offered by the SBI since the banks have merged with effect from April 1, 2017.

    Given below are the latest revised interest rates offered per annum on both Regular & Senior Citizen FDs as updated with effect from 28 March 2018:

    Tenure Regular FD Interest Rates (p.a) Senior Citizen FD Interest Rates (p.a)
    7 days to 45 days 5.75% 6.25%
    46 days to 179 days 6.25% 6.75%
    180 days to 210 days 6.35% 6.85%
    211 days to less than 2 years 6.40% 6.90%
    2 years to less than 3 years 6.60% 7.10%
    3 years to less than 5 years 6.70% 7.20%
    5 years to 10 years 6.75% 7.25%

    *The above interest rates are for investments less than Rs.1 crore

    State Bank of Travancore short-term FD rates

    • A depositor will be able to earn good rate of interest for investing for a duration that is from 7 days to less than 1 year
    • The bank rate gained will be from 5.75% p.a. to 6.40% p.a. across tenure ranges for short-term deposits
    • The most attractive rate of return of 6.40% p.a. is paid for deposits held from 211 days to less than 1 year
    • Depositors will be able to earn 6.35% p.a. for investing for a duration that is from 180 days to 210 days

    State Bank of Travancore medium-term FD rates

    • This tenure gives a comparatively higher rate of interest when compared to short-term deposits
    • The rate range is from 6.40% p.a. to 6.70% p.a. for a tenure that is from 1 year to less than 5 years
    • The best returns can be gained from investing in any period from 3 years to less than 5 years, where the interest rate is 6.70% p.a.
    • For 2 years to less than 3 years the rate paid is a lucrative 6.60% p.a.

    State Bank of Travancore long-term FD rates

    • A good example of such an FD is the tax saver fund through which an exemption of Rs.1.5 lakh can be claimed under Section 80C of the Income Tax Act
    • An attractive interest rate of 6.75% p.a. is paid for a tenure that is anywhere from 5 years to 10 years. This is the highest rate of interest that is paid by the bank across all time periods
    • The lock-in period is longer for this FD scheme but at the same time the interest earned is much much higher

    State Bank of Travancore senior citizen FD rates

    • All senior citizens will get a much higher rate of interest for all deposits booked
    • An additional 0.50% will be paid on all types of fixed deposits
    • The best FD rate paid for pensioners is 7.00% p.a. for a time frame that ranges from 2 years to 10 years
    • The second best rate paid is 6.90% p.a. for 211 days to less than 2 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.

    State Bank of Travancore Fixed Deposit Reviews

    • State Bank of Travancore Fixed Deposit
      "My FD"
      0.5 5.0/5 "Blown Away!"
      SBT Fixed deposit is good. I have been instructed to open a FD against my locker. As I am holding a locker with them. Its for a period of one term and the interest rate offered by them 7.9% . I have submitted one photo id , address proof and voters id . No drawback as such.
      Was this review helpful? 4
      , kota
      Reviewed on Nov 14, 2015
    • State Bank of Travancore Fixed Deposit
      "Public Bank info"
      0.5 4.5/5 "Excellent!"
      As per the current review of Bank Bazaar It gives useful info to all to create or maintain any transaction to proceed for either FD or Loan. Now a days there is lot of public/private bank options available but in terms of security Public Banks worth rather than private banks.
      Was this review helpful? 5
      , thiruvananthapuram
      Reviewed on Oct 21, 2015
    • State Bank of Travancore Fixed Deposit
      "Common Peoples Bank"
      0.5 4.0/5 "Great!"
      I am having the fixed deposit account with the State Bank of Travancore.The rate of interest was around 8.75% and its quarterly compounding.The service is really good with them.The online banking need to be much improved as like other private sector banks.
      Was this review helpful? 9
      , coimbatore
      Reviewed on Jul 08, 2015
    • State Bank of Travancore Fixed Deposit
      "Helping a lot"
      0.5 3.5/5 "Pretty good"
      I got spontaneous help and services from State bank of Tranvancore for my FIXED DEPOSIT account . I think the customer service were good not that much excellent. They have attractive interest rates compared with other banks in the market. It would be nice if they send mails for new updates or promotional offers.
      Was this review helpful? 2
      , kottayam
      Reviewed on Aug 23, 2014
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