SBI Fixed Deposit Rates 2011

SBI Fixed Deposit Rates have been revised in 2011 for some term deposit schemes, which are effective from Feb 14 this year. These schemes, which are open for Indian residents only, include the term deposits for a maturity period of 555 days and 1000 days. The new interest rates, which now stand at 9.25 percent (earlier these were at 9.00%), are applicable to fresh deposits as well as renewals under these schemes. Under the same schemes, the interest rates for senior citizens in India have been revised from the earlier 9.5 percent to current 9.75 percent.

Here are the revised fixed deposit rates for 2011, applicable under different maturity periods.

Tenors	Rates
7 days to 14 days	4.00
15 days to 45 days	5.00
46 days to 90 days	5.50
91 days to 180 days	6.00
181 days to less than 1 year	7.75
1 year to 554 days	8.25
555 days	9.25
556 days to less than 2 years	8.25
2 years to 999 days	8.75
1000 days	9.25
1001 days to less than 3 years	8.75
3 year to less than 5 years	8.25
5 years to less than 8 years	8.50
8 years and up to 10 years	8.75

The aforementioned fixed deposit rates are for amounts less than Rs. One Crore. If someone wants to invest more than Rs. One Crore in term deposits, that is also possible with State Bank of India. This is in fact a more lucrative option as the interest rates are comparatively more for such programs. Here are the latest fixed deposit rates for investment of amounts more than Rs. One Crore. These rates have also been revised and are effective from December 07, 2010.

Tenors	Rates
7 days to 14 days	6.25
15 days to 30 days	6.25
31 days to 45 days	6.50
46 days to 90 days	7.00
91 days to 180 days	7.25
181 days to 270 days	7.75
271 days to less than 1 year	8.00
1 year to less than 2 years	8.50
2 years and above	8.00

The interest rates under SBI Tax Savings Scheme (SBITSS) have also been revised with effect from December 07, 2010. The new rates for deposits under the program are 8.5 percent for general public, 9.00 percent for senior citizens and 10.00 percent for pensioner senior citizens residing in India.

SBI Fixed Deposit Rates for NRI

SBI Fixed Deposit Rates for NRI accounts have also seen changes in 2011. Though the rates under NRO deposit schemes have been aligned according to the changes in domestic term programs, there are altogether a different set of rates for NRE Rupee Deposits. NRO stands for Non-Resident Ordinary account and NRE stands for Non Resident External Deposit programs. These are among the several NRI services that State Bank of India offers to persons of Indian Origin (PIO) residing outside the country.

Here are the latest NRE Fixed Deposit Rates, which became effective from March 01, 2011.

Period	Rates
1 year to less than 2 years	2.54
2 years to less than 3 years	2.66
From 3 years upto 5 years	3.19

SBI Fixed Deposit Rates Calculator

SBI Fixed Deposits (FDs) are a good option to invest surplus fund as you are offered attractive interest rates and a high return over a period of time. The more the period the higher is the return, as the rates are compounded at quarterly intervals. The advantages of opening a fixed deposit account with State Bank of India include flexibility in deposit period, low investment amount, which can be as low as Rs. 1000, premature withdrawal facility, and easy and free transfer of term deposit within the banking network. Here is a quick reckoner on the maturity value you would accumulate on the investment of Rs. 100 within a given period at State Bank of India. Use a simple calculator to compute the maturity value for the amount you would like to invest under a specified term deposit option.