SBI’s 1000 days Fixed Deposit(FD)
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Until a few years ago, FD rates were quoted in either number of months or years, but ICICI Bank took the initiative to launch specific days FD with launch of 390/ 590/ 890 days FD.
With the turmoil in US financial market and its impending effect on India, Indian customers are now more inclined to invest in public sector banks rather than private sector or foreign bank, as such the new scheme may prove to be a hit in today’s times.
State Bank of India on Saturday announced a 1,000-day term deposit scheme with an interest rate of 10.5 per cent a year. The new scheme, which will begin from October 1, will be the term deposit of SBI carrying the highest interest rates. For senior citizens, the rate of interest will be 11 per cent. Earlier, it was offering 9.5 per cent on deposits of two years to less than three years.
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3 Comments on this post
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Sanjai Singh said:
Please tell me more about 2008SBI’s 1000 days Fixed Deposit(FD).Is it still there.Can I make FD any how from foreign.
February 9th, 2009 at 5:49 am -
dishant doshi said:
Please give me table showing Fixed deposit rate for Senior citizens of State Bank of India showing all possible Tenure,frequency,mode of payment along with interest payable daily,weekly,monthly, yearly & cumulative
February 19th, 2009 at 12:12 am
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[...] country’s largest PSU lender, State Bank of India, on Saturday reduced interest rate for deposits having 1,000-day tenure by 0.25 per cent to 7 per cent. The new rate will be effective from September 8, the bank said in [...]