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Interest Rates

Interest Rates

Interest Rates

The current interest rates of NRI Deposit Schemes and NRI Home Loans are:

FOREIGN CURRENCY NON-RESIDENT DEPOSITS (FCNR) w.e.f. 01.01.12 % p.a

  USD EURO GBP CAN$ AUD JYEN
PERIOD OF THE DEPOSIT RATE YIELD RATE YIELD RATE YIELD RATE YIELD RATE YIELD RATE YIELD
1 year+ < 2 years 2.38 2.3800 3.16 3.1600 3.12 3.1200 3.06 3.0600 6.13 6.1300 1.80 1.8000
2 years+ < 3 years 2.00 2.0302 2.57 2.620 2.59 2.6407 2.39 2.4332 5.14 5.3416 1.63 1.6500
3 years+ < 4 years 2.11 2.1664 2.64 2.7287 2.62 2.7073 2.47 2.5475 5.18 5.5272 1.65 1.6844
4 years+ < 5 years 2.30 2.3947 2.80 2.9411 2.71 2.8421 2.58 2.6995 5.45 5.9991 1.70 1.7514
5 years only 2.51 2.6566 3.00 3.2108 2.81 2.9945 2.71 2.8814 5.57 6.3225 1.75 1.8205

**NON-RESIDENT EXTERNAL RUPEE TERM DEPOSIT (NRE TD), (w.e.f. 01.01.2012)

PERIOD % Rate per annum
1 year to 10 years (less than Rs. 1 Crore) 9.25
1 year to less than 2 years (Rs. 1 Crore +) 9.00
2 years to 10 years (Rs. 1 Crore +) 8.75

NRO*/RESIDENT DOMESTIC DEPOSIT (Revised 13.08.2011) upto Rs.1 Crore

PERIOD % p.a
7 days to 90 days 7.00
91 days to 179 days 7.25
180 days to 240 days 7.00
241 days to less than 1 year 7.75
1 Year to less than 2 years 9.25
2 Years to less than 3years 9.25
3 Years to less than 5 years 9.25
5 Years to less than 10 years 9.25

NRE / NRO SAVINGS ACCOUNT RATE (w.e.f 03.05.2011)

Account type Rate
NRE 4%
NRO 4%

RATE OF INTERSET ON NRI HOME LOANS IN INDIA

Amount of Loan (Rs.) Rate Effective Rate (as on 01.10.2011)
Under 30 lacs 0.75% above Base Rate 10.75%
30 lacs to 75 lacs 1% above Base Rate 11.00%
75 lacs and above 1.25% above Base Rate 11.25%
*Tax at 30.9% is deducted on Interest paid on NRO Deposits.
*Submit copy of PAN issued by Income tax Dep., India for all NRO accounts
*Rates are subject to change without notice
*The revised interest rates are applicable only on fresh deposits and renewals of maturing deposits.
**No interest is payable if the deposit is withdrawn before one year. In other cases of premature withdrawal, the interest paid shall be 0.5% below the rate applicable for the period deposit has remained with the Bank or 0.5% below the contracted rate, whichever is lower.
**These instructions for premature withdrawal will apply only to fresh deposits and renewed maturing deposits.

For details of interest rates on deposits and loans, please visit our corporate website www.sbi.co.in.