‘Sarvottam’ (Non-Callable) Term Deposit

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‘Sarvottam’ (Non-Callable) Term Deposit

SBI ‘Sarvottam’ (Non-Callable) Term Deposit offers higher Rate of Interest, without pre-mature withdrawal facility.

Features

  • Eligibility: Resident Individuals and Non- Individual Customers (Minors and NRI customers are not eligible)
  • Minimum & maximum Amount:
    Min/Max Retail Bulk
    Minimum Amount (In multiples of ₹1000/- thereafter) ₹15.01 lacs ₹2 cr.
    Maximum Amount < ₹2 cr. < ₹5 cr.
  • Tenor (Retail and Bulk): 1 year & 2 years only
  • Rate of Interest (Retail and Bulk)
    • 30 bps over Card Rate, for 1 year tenor
    • 40 bps over Card Rate, for 2 years tenor
  • Special Categories of Customers: Senior Citizens/ Staff/ Staff Senior Citizens are eligible for additional Interest Rate over applicable non-callable deposit Rate for public. (NRI Senior Citizens / NRI Staff not eligible).
  • Pre-mature withdrawal: Not allowed
  • Renewal of Deposit: Not allowed: Not allowed
    (Maturity amount shall be credited to Customer’s SB/CA/CC/OD Account)
  • Loan Facility: Only Demand Loan against deposit is allowed with applicable margin.
  • TDS: TDS is applicable as per Income Tax Rules
  • Others:
    • Not to be used as security/ margin money (LC/BG) and any other credit facility or purpose.
    • Conversion from existing TDR to Non-Callable and vice – versa not allowed.
    • The scheme is available through branch only.

Last Updated On : Wednesday, 01-03-2023

Interest Rates

7.00%

2 years to less than 3 year

6.50%

5 years and up to 10 years

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