SBM FD Rates | State Bank of Mysore FD Calculator – Calculate Total FD Amount

Here we have provided online State Bank of Mysore FD Calculator. Everyone wants to make fixed deposits for a particular period in a reputed bank. Many of us are interested in opening FD accounts in SBM. So, we have provided SBM FD Rates. Based on these FD Rates you can calculate the total Maturity amount. For more details about State Bank of Mysore FD Calculator can get from below sections.

State Bank of Mysore FD Calculator

As in our site, we have provided online State Bank of Mysore FD Calculator. You can use this FD Calculator to calculate your Annual amount. The FD Rates will change when there is a change in bank liquidity or by some other conditions. In some cases, you need to calculate your Maturity amount instantly based on the FD rates. So in such cases, you can easily calculate your total amount only by entering the fixed amount, tenure period, Interest rates. Then after that, you can easily know your Maturity amount. Also, there is a formula for calculating the Fixed amount. But some may feel hard to solve the fixed amount by using formula. Thus to make easy to know your total amount, we have provided State Bank of Mysore FD Calculator.

Check here to know about SBM FD Calculator

How to use SBM FD Calculator?

  1. Click the above link to get SBM Bank FD Calculator or go to the official website.
  2. There you have to enter the details like Principal amount, Rate of Interest, Tenure Period, and Frequency i.e. to calculate the amount by simple interest or compound interest.
  3. Next once again check the values you have mentioned and click on Calculate Button.
  4. Finally, you can know State of Mysore Bank Fixed Deposit Amount.

These are the steps by which you can know how to use State Bank of Mysore FD Calculator. Also, you have to know the requirement of FD Calculator while calculating the Maturity amount.

  • Principal Amount
  • Interest Rate
  • Frequency
  • Tenure Period

State Bank of Mysore FD Calculator

SBM FD Rates – Domestic Term Deposit

Tenure period Fd Interest Rates
Deposits less than 1 Crore Deposits above 1 crore to less than 10 crores
7 Days – 45 days 5.50% 3.75%
46 days – 90 days 6.50% 3.85%
91 days to 179 days 6.50% 3.85%
180 days – 210 days 6.50% 4.00%
211 days to less than 1 year 6.50% 4.25%
1 year – 455 days 6.90% 4.25%
456 days to less than 2 years 6.75% 4.25%
2 years to less than 3 years 6.75% 4.25%
3 years to less than 5 years 6.50% 4.25%
5 years – up to 10 years 6.50% 4.25%

  State Bank of Mysore Interest rates – Above 10 crore

Tenure Period Deposits above 10 crores
7 Days – 45 days 3.75%
46 days – 90 days 3.85%
180 days – 210 days 3.85%
211 days to less than 1 year 4.00%
1 year – 455 days 4.25%
456 days to less than 2 years 4.25%
2 years to less than 3 years 4.25%
3 years to less than 5 years 4.25%
5 years – up to 10 years 4.25%

These are the latest updated Fd Rates of State Bank Of Mysore. Based on the interest rates you can calculate your Maturity amount using FD Calculator.

  • For the residents of Senior Citizens, would be offered 0.50% per annum additional interest rates across all tenure period.
  • As the FD Interest rates offered for the staff and retired staff is 1.00% above the applicable rate. For the retired staff of Senior citizens, the FD Rate will be 1.50%.
  • The Revised rate of Interest is also applicable to “State Bank of MysoreTAX Server” Scheme.

Penalty for Premature Withdrawal – Individual Deposits below Rs.1 Crore

  • There is no necessity to pay any interest if the premature withdrawal of the deposit within 7 days.
  • Up to the period of one year, there is no penalty for any premature withdrawal of the term deposit.
  • For the fixed Deposits above 1 year, the interest paid should be 0.50%.

Here we have mentioned some instructions with the respect of premature withdrawal of domestic deposits of 1 crore and above because these instructions will apply. So, follow the rules carefully which are mentioned below.

  1. Deposit of Rs.1 crore – up to 10 Crores: Here the premature withdrawal is permitted. There is no necessity to pay if you have made a premature withdrawal within 15 days. But after 15 days if you made premature withdrawal then you need to pay 1% below the rate of interest applicable for the period has remained within the bank.
  2. Deposits above 10 Crores: Here also the premature withdrawal is permitted. There is no necessity to pay if you have made a premature withdrawal within 15 days. But after 15 days if you made premature withdrawal then you need to pay 2% below the rate of interest applicable for the period has remained within the bank.

State Bank of Mysore Fixed Deposit

State Bank of Mysore Fixed Deposit is a bank account. By having the Fixed Deposit account, you can save money for a particular period based on the scheme you have selected. The State Bank of Mysore is a Nationalised bank in India. Apart from its retail banking portfolio it also provides various schemes to save money. Today everyone shows interest in saving amount for the future. For them, it is very important to open FD Account in any bank. If everyone has a chance to open FD Account in the State Bank of Mysore, then no one lives that chance. Thus, those who are interested in opening Fixed Deposit account in SBM then check the below sections. We have provided both online and offline process to open FD Account. Therefore select any one of the processes which help you in opening FD Account in Stae Bank of Mysore. Also, calculate your Maturity amount by using the online State Bank of Mysore FD Calculator which is provided on our site.

Click here to know about State Bank of Mysore Fixed Deposit

 Eligibility to Open FD Account in SBM

We have provided eligibility conditions to open FD Account. So, it is important to check these conditions before you have decided to open FD Account in State Bank of Mysore. Therefore the eligible conditions have listed below.

  • An individual
  • Minor jointly with a major
  • Minor whose age is 12 years who have capable of reading and writing and operate account personally.
  • Educational Institutions and Charitable Trust
  • HUF
  • Illiterate persons
  • Blind Persons
  •  More than one person in their joint names.

List of Documents for Opening FD Account

These are the documents to be submitted along with the FD Account opening Application Form. We have provided the separate list of documents as a proof of identity, proof of Address, Proof of Date of Birth, and also for Minors.

  • Documents for Identity Proof
    • Passport
    • Aadhaar Card
    • Driving License
    • Voter ID card
    • PAN Card
    • Identity Card issued by the reputed Employer
  • List of Documents for Address Proof
    • Aadhaar Card
    • Telephone Bill
    • Salary Slip
    • Bank Account Statement
    • Electricity Bill
    • Wealth Tax / Income Tax Assesment order
  • Required Documents For Date of Birth
    1. For Senior Citizens ( Anyone from the below List)
      • PAN Card
      • Voter Card
      • Passport
      • Driving License
      • PPO in the case of Pensioner
    2. For Minors:
      • Birth Certificate issued by the Municipal Corporation
      • Two recent Passport Size Photos.

FD Account Opening in SBM – Offline Process

There are mainly two processes which help in completing the Account opening process. (i.e. Online and offline process). Here we have provided both online and offline process. So, based on your convenience you can choose anyone from the below-mentioned processes.

  • Firstly you have to download the FD Account opening Application form from the official site.
  • Then you have to fill all the details in the application without any mistakes.
  • After that, you have to visit any branch of the SBM and submit the application form with the required documents.
  • Later after completing the verification process, then your FD Account will be opened.

Online Process for FD Account Opening

  • Visit the official website of the bank www.statebankofmysore.co.in
  • Then you have click on Apply online. In that, you have to select online SB account opening.
  • After that, you have to click on Apply now.
  • Later start filling Customer Information Section in the Application form. Then after that, you have to move to Account Info Section and again fill the required details.
  • While filling application form please don’t press F5.
  • Finally, after filling application you have to save the details and click on submit button.
  • An SMS notification is sent to 1st applicant mobile number along with the TCRN (Temporary Customer Reference Number).
  • So, that your FD Account will be opened.

Click here to know FD Account opening 

Features of State Bank of Mysore Fixed Deposit Schemes

Mainly the features will be applied based on the schemes you have selected. So, we have provided features of Fixed Deposits with the State Bank of Mysore. They are mentioned below.

  • Free insurance of 5 lakhs under Suraksha Time Deposit Account – In the case of Accidents.
  • There are no Premature Withdrawal charges if the fixed Deposit is held for a minimum of 7/15 days.
  • There is a chance to take a loan against fixed Deposits.
  • Nomination Facility will be available.
Updated: March 21, 2017 — 6:12 am

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