8.75%P. A* (Including 0.5% for Senior Citizens)
Guaranteed On
Fixed Deposit
Book In Just Few Taps
Open Your FD Now
*T&C Apply
Above rates are subject to change without prior notice. Depositors may please confirm the rates with respective branches before the investment.
0.5% additional benefit for senior citizens (only applicable for deposits for Resident Indians)
8.75%P. A* (Including 0.5% for Senior Citizens)
GUARANTEED ON FIXED DEPOSIT
*T&C Apply
Above rates are subject to change without prior notice. Depositors may please confirm the rates with respective branches before the investment.
0.5% additional benefit for senior citizens (only applicable for deposits for Resident Indians)
All you need is your PAN, Aadhaar and Video KYC.
Flexible Tenure option starting from 6 Months to 10 years
Additional interest rate of 0.5% for Senior Citizens
Choice of monthly and quarterly interest payout options
All bank deposits are covered under the insurance scheme offered by DICGC
Fixed Deposits
| With Effect From 28.02.2024 | |||||
| Tenure | Up To INR 1 Cr | More Than INR 1 Cr To Less Than INR 2 Cr (Callable) | More Than INR 1 Cr To Less Than INR 2 Cr (Non Callable) | INR 2 Cr Up To INR 5 Cr (Callable) | INR 2 Cr Up To INR 5 Cr (Non Callable) |
|---|---|---|---|---|---|
| Resident & NRO | Resident & NRO | Resident & NRO | Resident & NRO | Resident & NRO | |
| 7-14 days | 4.25% | 4.25% | 4.25% | 5.10% | 5.10% |
| 15-30 days | 4.25% | 4.25% | 4.25% | 5.10% | 5.10% |
| 31-45 days | 4.25% | 4.25% | 4.25% | 5.35% | 5.35% |
| 46-60 days | 4.25% | 4.25% | 4.25% | 5.35% | 5.35% |
| 61-90 days | 4.25% | 4.25% | 4.25% | 5.85% | 5.85% |
| 91-120 days | 4.80% | 4.80% | 5.00% | 6.55% | 6.95% |
| 121-180 days | 5.00% | 5.00% | 5.20% | 6.80% | 6.95% |
| 181-210 days | 6.55% | 6.55% | 6.75% | 6.80% | 7.05% |
| 211-269 days | 6.55% | 6.55% | 6.75% | 6.90% | 7.05% |
| 270 below 1 year | 6.55% | 6.55% | 6.75% | 7.25% | 7.40% |
| 1 year and 1 year 1 day | 7.05% | 7.05% | 7.25% | 7.30% | 7.65% |
| 1 year 2 days | 7.05% | 7.05% | 7.25% | 7.30% | 7.65% |
| > 1 year 2 days to 389 days | 7.05% | 7.05% | 7.25% | 7.30% | 7.65% |
| 390 days | 6.50% | 6.50% | 6.70% | 7.30% | 7.65% |
| 391 days to 15 months | 8.10% | 8.10% | 8.10% | 7.30% | 7.65% |
| > 15 months to 18 months | 7.05% | 7.05% | 7.25% | 7.30% | 7.65% |
| > 18 months to < 2 years 3 days | 7.30% | 7.30% | 7.50% | 7.30% | 7.65% |
| 2 years 3 days | 7.30% | 7.30% | 7.50% | 7.20% | 7.55% |
| > 2 years 3 days up to < 3 years 2 days | 7.30% | 7.30% | 8.00% | 7.30% | 8.00% |
| 3 years 2 days | 8.25% | 8.25% | 8.25% | 7.10% | 8.00% |
| > 3 years 2 days up to < 5 years | 7.40% | 7.40% | 7.60% | 7.10% | 7.50% |
| 5 years | 7.75% | 7.75% | 7.75% | 7.10% | 7.50% |
| > 5 years up to 10 years | 7.40% | 7.40% | 7.60% | 7.10% | 7.50% |
| Tenure | Up To INR 1 Cr | More Than INR 1 Cr To Less Than INR 2 Cr (Callable) | More Than INR 1 Cr To Less Than INR 2 Cr (Non Callable) | INR 2 Cr Up To INR 5 Cr (Callable) | INR 2 Cr Up To INR 5 Cr (Non Callable) |
|---|---|---|---|---|---|
| NRE | NRE | NRE | NRE | NRE | |
| 1 year and 1 year 1 day | 7.05% | 7.05% | 7.25% | 7.30% | 7.65% |
| 1 year 2 days | 7.05% | 7.05% | 7.25% | 7.30% | 7.65% |
| > 1 year 2 days to 389 days | 7.05% | 7.05% | 7.25% | 7.30% | 7.65% |
| 390 days | 6.50% | 6.50% | 6.70% | 7.30% | 7.65% |
| 391 days to 15 months | 8.10% | 8.10% | 8.10% | 7.30% | 7.65% |
| > 15 months to 18 months | 7.05% | 7.05% | 7.25% | 7.30% | 7.65% |
| > 18 months to < 2 years 3 days | 7.30% | 7.30% | 7.50% | 7.30% | 7.65% |
| 2 years 3 days | 7.30% | 7.30% | 7.50% | 7.20% | 7.55% |
| > 2 years 3 days up to < 3 years 2 days | 7.30% | 7.30% | 8.00% | 7.30% | 8.00% |
| 3 years 2 days | 8.25% | 8.25% | 8.25% | 7.10% | 8.00% |
| > 3 years 2 days up to 5 years | 7.40% | 7.40% | 7.60% | 7.10% | 7.50% |
| > 5 years up to 10 years | 7.40% | 7.40% | 7.60% | 7.10% | 7.50% |
Disclaimer
Above rates are subject to change without prior notice. Depositors may please confirm the rate with respective branches before the investment.
Notes: 0.5% additional benefit for senior citizens (only applicable for deposits for Resident Indians).
In case of premature payment, the deposit represented by advice shall be subject to penalty provisions at the rates decided by the Bank from time to time. Currently, the Bank will allow withdrawal of all term deposits (except non-callable term deposits) of Rs. 2 Crore and below before completion of the period of the deposit agreed upon at the time of placing the deposit subject to levy of penal charges as applicable. The Bank will be paying interest for the run period prevalent at the time of opening of the deposit. The premature deposit closure penalty is 1% PA, and if the NRE/ FCNR runs for a period of 1 year and above.
If a request for the renewal is received after the date of maturity, such deposit will be renewed with effect from the date of maturity at the interest rate applicable on the date of maturity, provided such request is received within 14 days from maturity date. In case the request is received after 14 days, interest for the overdue period will be paid at the Savings Bank rate.
Tax Saver FD Disclaimers
- Maximum amount of the Deposit is Rs. 150,000.00 for a tenor of 5 years
- Deduction u/s 80C of the IT Act subject to fulfilment of conditions therein. First holder is only eligible for the tax deduction.
- The deposit cannot be pledged to secure a loan or be placed as security to any other asset.
- Premature withdrawal of the deposit (either principal or accrued interest) is not permitted before completion of 5 years.
- Auto renewal facility is not permitted.
- Flexible interest pay-out options on monthly & quarterly basis are available.
FAQs
Online Fixed Deposit by SBM Bank India is a fixed deposit that can be booked online with your Aadhaar, PAN & other basic details.
You can book an Online Fixed Deposit provided:
- You are an Indian Citizen.
- You have a valid PAN and Aadhaar number.
- Your mobile number is linked to your Aadhaar number.
- You are above 18 years of age.
The minimum amount for investment in Fixed Deposit with SBM Bank India is just Rs. 5000.
The minimum tenure for opening an online FD through this channel is 6 months and the maximum tenure is up to 10 years.
Yes, SBM Bank India offers special rates for Senior Citizens, which is currently 0.5% additional interest rate benefit (only applicable for deposits for Resident Indians).
You can choose from Monthly and Quarterly payout of interest on Maturity. The FD interest payout will be as per the option selected or provided by the customer at the time of opening the FD online. If customer wants the interest payout to be credited to a non SBM Savings Account, then ‘interest payable at Maturity’ is the only option available to the customer.
You can opt for Auto renewal option while creating an FD through the online journey.
You cannot add more funds to an existing FD in the middle of the tenure. Instead, you can choose to create a new Fixed Deposit.
- For opening Online FD, applicants are mandated to go through Video KYC to open an account with SBM Bank India.
- During the online account opening journey, you can connect with an available Bank Official and have an audio-video interaction to complete your Video KYC.
- You also have the option to schedule* your Video KYC for a later date and time.
*Please note that Scheduling is only available within 72 hours of Aadhaar verification.
- Device with a stable internet/WiFi connection
- Device with microphone & camera
- A blank white sheet of paper and pen
- Original PAN Card
- You should be present in India
Yes, you need to be physically present in India during your Video KYC.
Original PAN card is required for Video KYC.
Yes, you can choose to schedule Video KYC. However, please note that Scheduling is only available within 72 hours of Aadhaar verification.
- Bank Official will either approve or reject a case post audio-video interaction with the applicant.
- All cases approved by the Bank Official are sent for review and approval to a concurrent auditor.
- Concurrent auditor will take up to 24 hours to review the case and give a final decision on Acceptance or Rejection.
- Account (savings/fixed deposit) will be immediately opened on Acceptance by the concurrent auditor.
In case you reconnect within 2 minutes, the audio-video interaction with the Bank Official continues from the drop off point, else you will need to initiate a fresh call with the Bank Official using the link provided.