This article offers a brief summary of the key aspects of the State Bank of India’s Floating Rate Bulk Term Deposit schemes. Since these details are subject to frequent updates, please refer to the bank’s official website for the most current information on features and interest rates.
SBI – Floating Rate Bulk Term Deposit Features:
- Minimum duration: 91 days
- Maximum duration: 3 years
- For NRE Rupee Term Deposits, the minimum period is 12 months Minimum deposit: Rs. 2 Crores and in multiples of Rs. 1,00,000/- (Rs. One lac) thereafter
- Maximum deposit has no limit
- Penalty for premature closure of FRBTD for all tenors stands at 1%. No interest will be paid if the deposit is withdrawn before 91 days.
- Loan/Overdraft facility available up to 90% of FRBTD amount. Interest rate is 1.50% p.a. above the applicable floating interest rate.
How to invest?
Click here to invest in the State Bank of India’s Floating Rate Bulk Term Deposit schemes.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank/institution.