New Delhi: State Bank of India (SBI), the country’s largest lender, offers eight maturity options of fixed deposits or term deposits. These maturity options range from seven days to 10 years. According to the SBI’s official website- www.sbi.co.in, the bank has classified its term deposits into retail domestic term deposits below Rs 2 crore, domestic bulk term deposits of Rs 2 crore to Rs 10 crore and domestic bulk term deposits above Rs 10 crore.
The interest rates on the retail domestic term deposits and domestic bulk term deposits of all three classifications were revised and effective from February 22, 2019. The minimum tenor is from seven days to 45 days and the maximum is from five years to up to 10 years.