RD Interest Rates below One Crore
|Tenure Of Recurring Deposit||ROI (% p.a.)||ROI For Senior Citizens (% p.a.)|
|211 days to less than 1 year||6.5||7|
|1 year to 455 days||6.9||7.4|
|456 days to less than 2 years||6.75||7.25|
|2 years to less than 3 years||6.75||7.25|
|3 years to less than 5 years||6.5||7|
|5 years and up to 10 years||6.5||7|
Get the Highest Interest Rates on State Bank of Mysore
State Bank of Mysore is a nationalized bank acting as a subsidiary of SBI Group and is headquartered in Bangalore. The Bank offers incomparable investment schemes and term deposit options aimed at assisting their customers to earn more savings over their regular income. One among these schemes is its Recurring Deposit scheme that can be opened with a minimum of just Rs. 100 and in multiples of Rs. 10 thereafter. There is no maximum limit on the amount that can be deposited. The deposit term ranges from 12 months to 10 years. Premature withdrawal of funds available in the Recurring Deposit is permitted.
State Bank of Mysore Short-term Recurring Deposit Interest Rates
State Bank of Mysore offers Recurring Deposit for a short deposit term from a minimum of 211 days to less than 1 year at an interest rate of 7.00% for regular customers. For holding an RD for a short duration of 1 year to 455 days the rate of interest offered by the Bank is 6.90%.
SBM Medium and Long Term Recurring Deposit Interest Rates
State Bank of Mysore also offers medium deposit tenures and long deposit tenures on Recurring Deposit. Medium tenures for holding an RD account with the Bank ranges over a period of more than 3 years to less than 5 years and the interest rate applicable is 6.50%. The long term RD can be held with the Bank for a tenure of more than 5 years to a maximum period of not more than 10 years, at an interest rate of 6.50% as well.
State Bank of Mysore offers Senior Citizens 0.50% additional interest over the interest rate offered to the general public. In this case, they will receive 7.50% interest rate for a short term RD ranging from 211 days to less than 1 year and for a period of more than 2 years to not more than 3 years the interest rate applicable will be 7.35%. For a medium term and long term recurring deposit ranging from 3 years to 10 years, the interest rate offered by the Bank is 7.00%.
FAQs On SBM RD Interest Rates
How much will I be charged for pre-mature closure?
Interest is charged on premature withdrawal of your Recurring Deposit at 1 per cent below the rate that is applicable for the deposit period with the bank, completed at the time.
Is there any interest earned on overdue account?
State Bank of Mysore is not legally required to pay interest on the overdue RD account.
More you need to know about Recurring Deposit
- State Bank of Mysore Recurring Deposit
- Recurring Deposit
- Compare RD Interest Rates of State Bank of Mysore with Other Banks and Institutions
Read More Articles On RD
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- Tax on RD Interest
News About State Bank of Mysore Recurring Deposit Interest Rates
Interest Rates of Recurring Deposit Revised by State Bank of Mysore
Recurring Deposit Interest Rates have been revised by State Bank of Mysore. The bank now offers an interest rate of 7% p.a. for a tenure of 211 days to below 1 years and 6.9% p.a. for a tenure of 1 year to 455 days. It offers 6.5% p.a. for a tenure of 3 years to below 5 years now, which is the same for a tenure of more than 5 years and up to 10 years. Senior Citizens can also benefit from the revised rates. The bank offers 0.5% p.a. additional interest to depositors who are senior citizens. To these depositors, the bank offers an interest rate of 7.5% p.a. for a tenure of 211 days to below 1 year, 7.35% p.a. for a tenure of over 2 years to 3 years and 7% p.a. for a tenure of 3 years to 10 years.
1st December 2016