highlights
Offers a 4.25% interest rate on domestic deposits with a maturity of 7 to 90 days.
Offers a 4.8% interest rate on domestic deposits with a maturity of 91 to 120 days.
The bank offers 0.5% additional interest rate for seniors.
New Delhi. Today we will tell about one such bank that gives the highest interest on deposits from 3 to 5 years. People set up FD fixed deposit schemes with state-owned banks so that the investment is safe, but when it comes to returns, small savings banks or non-financial institutions offer more advantages. One of them is SBM Bank SBM Bank (India) Ltd. The bank offers a maximum interest rate of 8.35% on deposits under 2 crore. Find out more about this bank…
SBM Bank (India) started operations on December 1, 2018 after receiving a banking license from RBI. This bank has a total of 11 branches across the country. SBM Bank acts in the areas of corporate, retail and treasury catering for customers in retail, MSME, NRIs as well as large companies and institutions. Let us tell you that this bank is a subsidiary of Mauritius based SBM Holdings. SBM Group is a financial services group offering services such as deposits, lending, business finance and cards, among others.
Also read this: 7.75% interest on 18 month FD, isn’t that a great deal, do you know which bank offers this opportunity?
SBM Bank FD rates
The bank currently offers an interest rate of 4.25% on domestic deposits with maturities of 7 to 90 days. While the bank is now offering a 4.8% interest rate on domestic deposits with maturities of 91 to 120 days. Currently, SBM Bank offers an interest rate of 5% for deposits between 121 and 180 days and 6.55% for deposits between 181 days and 1 year. Deposits with a term of between 1 year and 389 days or 390 days now earn interest at 7.05% or 6.50%.
The bank is now offering an interest rate of 7.05% on deposits with a maturity of 391 days to 18 months, while the bank is currently offering an interest rate of 7.3% on deposits with a maturity of 18 months to 3 years and 2 days . SBM Bank now offers an interest rate of 7.4% on deposits from 3 years 2 days and 8.35% on deposits from 3 years 2 days to 5 years. Deposits with a maturity of 5 years now earn 7.75% and deposits with a maturity of 5 to 10 years earn 7.4%. Offers 0.5% additional interest rate for seniors.
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Tags: Bank FD, Business news in hindi, FD prices, fixed deposits
FIRST RELEASED : May 03, 2023 at 6:22 p.m
