State Bank of Mysore is a public sector bank and a subsidiary of State Bank of India. It offers a diverse range of banking services to its customers, including fixed deposit schemes at competitive interest rates and of different tenures, so that they have the flexibility to pick the one which suits their needs. These interest rates keep changing subject to the internal policies and the prevailing market rates.
State Bank of Mysore Short Term Fixed Deposit Rates
State Bank of Mysore offers an interest rate of 6.50% on short term fixed deposits, with tenure ranging between 30, 60 and 90 days. This attractive interest rate and short tenure makes the deposits a great option for investors looking for easy liquidity along with high return. The 120 day as well as 6 month scheme gets a high interest rate of 7.25% while that for a 9 month fixed deposit is 7.50%.
State Bank of Mysore Medium and Long Term Fixed Deposit Rates
The interest rate of fixed deposits of a tenure of 1 to 3 years is around 7.75%, while that on the tenure of 4 to 5 years is marginally lower at 7.25 % so that it remains at par with that offered by other leading banks of the country.
In case of senior citizens, an additional 0.4% on FDs is offered over and above the regular rate of interest and this applies to deposits of tenure between 6 months and 5 years. The interest rate for short term FDs, however, remains the same for senior citizens too.
Latest SBM Fixed deposit interest Rates ( Domestic & NRO deposits only):
|Period||Below 1 crore|
| 1-5 crores|
| Above 5 crores|
NRE Fixed/term deposit Rates:
|Period of Deposits||Interest rate|
Table Updated: 3 April, 2016
- Senior Citizens will be eligible for 0.40% extra interest on all deposits.
- 7.75% interest rate will be given under SBM tax saver deposits.
- No interest will be paid for withdrawing money before 1 year in case of NRE deposits.