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State Bank of Travancore FD Rates, October 2019

Tenure Interest Rates for Regular Deposit Interest Rates for Senior Citizen
7 days to 45 days 5.50% 6.00%
46 days to 179 days 6.50% 7.00%
180 days to 210 days 6.75% 7.25%
211 days to 364 days 7.00% 7.50%
365 days to 455 days 6.90% 7.40%
456 days to 1 year 364 days 6.95% 7.45%
2 years to 2 years 364 days 6.85% 7.35%
3 years to 4 years 364 days 6.50% 7.00%
5 years to 10 years 6.50% 7.00%
Investment Amount Minimum - Rs.1000 Maximum- 
Tenure Minimum - 7 daysMaximum- 10 Years
Additional Rate of Interest for Senior Citizen Senior citizens can earn an additional interest of 0.40% on their deposits annually
Flexible Tenure Now enjoy flexible tenure starting from 30 days and avail different rate of interests in each level

State Bank of Travancore FD Interest Rates

When your funds are deposited in a savings account that can fetch you a fixed income, it is called fixed deposit. The time frame for which the money is deposited or the tenure cannot be altered, and so it is with the interest rate.

For those who are afraid of risks, opening a fixed deposit account is the safest way to secure your investments. In most cases, the interest amount on the fixed deposit is paid out to the account holder. In some cases, the interest amount is compounded, only for higher returns.

Types of Interest

When interest is calculated on fixed deposit in SBT or any other bank, it can be done by two methods:

(i) Simple Interest Procedure: If the SBT FD rates or the interest rates of any other bank are calculated in this approach, the interest is calculated on the principal amount that is deposited initially. Even if the SBT FD interest rates are frequently calculated, it will always be based on the principal.

(ii) Compound Interest Procedure: If the FD interest rates in SBT or any other bank are calculated using this method, the interest is calculated on the initial deposit (principal) and the interest received thereon. In this approach, the interest rate on FD in SBT is not just calculated every year, but it is also compounded every year. The benefit amount that a depositor receives will be added to the principal amount and it will be used for the consequent interest calculations.

Thus the rate of interest on FD in State Bank of Travancore or any other bank can be calculated by either of the methods.

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