State Bank of India is offering attractive returns across various fixed deposit tenures, with rates ranging from 3.05 percent to 7.15 percent. The premier public sector lender allows customers to open deposit accounts for a minimum period of 7 days and up to a maximum of 10 years. Among the various structured tenures available, the 211-day fixed deposit scheme comes with specific interest rates and deposit limits structured according to the investor category.
Interest Rates On The 211-Day Fixed Deposit Scheme
For the 211-day maturity tenure, the lending institution provides customized returns depending on the age of the account holder. The standard interest rate for customers up to 59 years of age is set at 5.90 percent. Investors participating in this specific 211-day term deposit scheme can park a maximum investment amount of up to 2,99,99,999 rupees.
Benefits For Senior And Super Senior Citizens
Special categorization applies to older investors opening fixed deposits with the institution. Depositors aged 60 years and above receive a higher return of 6.40 percent for the 211-day term. Furthermore, customers who have attained an age of 80 years or more are eligible for the highest payout of 6.50 percent on the same duration. Overall, the bank provides senior citizens with a 0.50 percent higher return compared to regular customers, while super senior citizens receive an additional 0.10 percent benefit over regular senior citizen rates.
Recent History Of Interest Rate Revisions
The banking institution last updated its fixed deposit interest rate structure during December of last year. Since that revision, the institution has maintained the prevailing rates without implementing any major alterations to the scheme structures.
