State Bank of Mysore FD Interest Rates
Fixed Deposits, also known as term deposits or bonds, are powerful financial aids that allow you to invest a principal amount for a particular number of years and gain interest in it.With the interest rates in SBM, FDs serve almost as a savings account with the twist of longer-term and additional features. These added benefits include senior citizen assistance, tax-saving services, nomination, etc.
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Save upto ₹46,800 in tax under Sec 80C
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Inbuilt Life Cover
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Tax Free Returns Unlike FD+
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- State Bank of Mysore Fixed Deposit
SBM offers different interest rates on Fixed Deposits for various maturity limits. At a competitive fixed deposit interest rate, SBM also allows you to request a loan against the deposit scheme.
Features of State Bank of Mysore Fixed Deposit
| Tenure | General Public FD Rates | Senior Citizen FD Rates |
| 7 days to 14 days | 2.50% | 3.00% |
| 15 days to 30 days | 2.50% | 3.00% |
| 31 days to 45 days | 3.00% | 3.50% |
| 46 days to 60 days | 3.00% | 3.50% |
| 61 days to 90 days | 3.00% | 3.50% |
| 91 days to 120 days | 4.25% | 4.75% |
| 121 days to 180 days | 4.5% | 5.00% |
| 181 days to 210 days | 5.00% | 5.50% |
| 211 days to 269 days | 5.00% | 5.50% |
| 270 days to below 1 year | 5.50% | 6.00% |
| 1 year to below 390 days | 6.50% | 7.00% |
| 391 days to 15 months | 6.85% | 7.35% |
| >15 months to 18 months | 6.85% | 7.35% |
| >18 months to 2 years | 7.00% | 7.50% |
| >2 years to up to 3 years | 7.00% | 7.50% |
| >3 years to up to 5 years | 6.40% | 6.90% |
| >5 years to up to 10 years | 6.40% | 6.90% |
| BANKS | GENERAL CITIZENS | SENIOR CITIZEN |
| Axis Bank FD Rates | 2.50% - 5.75% | 2.50% - 6.50% |
| Bandhan Bank FD Rates | 3.00% - 5.00% | 3.75% - 5.75% |
| Bank of Baroda FD Rates | 2.80% - 5.25% | 3.30% - 6.25% |
| Bank of India FD Rates | 2.85% - 5.05% | 3.35% - 5.55% |
| Canara Bank FD Rates | 2.90% - 5.40% | 2.90% - 5.90% |
| Central Bank of India FD Rates | 2.75% - 5.00% | 2.90% - 3.25% |
| DBS Bank FD Rates | 2.50% - 5.50% | 3.50% - 6.00% |
| HDFC Bank FD Rates | 2.50% - 5.60% | 3.00% - 6.35% |
| IDFC Bank FD Rates | 2.50% - 6.00% | 3.00% - 6.50% |
| Indian Bank FD Rates | 2.90% - 5.15% | 3.40% - 5.65% |
| Indian Overseas Bank FD Rates | 3.40% - 5.20% | 3.90% - 5.70% |
| IndusInd Bank FD Rates | 2.50% - 6.00% | 3.00% - 6.50% |
| Punjab National Bank FD Rates | 2.90% - 5.25% | 3.50% - 5.75% |
| SBI FD Rates | 5.30% - 5.40% | 5.80% - 6.20% |
| UCO Bank FD Rates | 2.55% - 5.05% | 3.80% - 6.30% |
| Yes Bank FD Rates | 3.25% - 6.25% | 3.75% - 7.25% |
SBM FD rates tend to generate more interest in longer periods. However, premature withdrawal of funds from an FD or termination of the same is not a general policy and needs to be reviewed by the Bank before it is allowed. Reduced interest or small fine may also be taxed for premature FD termination.
In SBM, fixed deposit rates can vary as per the changing policies of the nation's Central Bank. You can choose a simple or compound FD, opt for accessory benefits, and decide to reinvest the interest that the policy generates to bulk up the final payable amount.
About State Bank of Mysore Fixed Deposit Interest Rate Calculator
State Bank of Mysore Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:
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The amount that is invested
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The Rate of Interest offered
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The tenure of the Fixed Deposit Account
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The compounding period, that is, yearly, half-yearly, quarterly, or monthly
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The FD Amount
Once entered the following details, an investor will come to know:
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The maturity value of the FD
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The total interest earned during the complete tenure
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*All savings are provided by the insurer as per the IRDAI approved
insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable
tax slabs post 31st march 2023
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