The revised interest rates for Domestic Term Deposits 'Below Rupees One Crore' effective from the 09.11.2009 would be under:
Interest Rates for Deposits below Rs. One Crore (% p.a.) | |||
Tenors | Existing w.e.f. 05.10.2009 (% p.a.) | Revised w.e.f. 09.11.2009 (% p.a.) | |
15 days to 45 days | 2.75 | 15 days to 45 days | 2.50 |
46 days to 90 days | 3.75 | 46 days to 90 days | 3.50 |
91 days to 180 days | 5.00 | 91 days to 180 days | 4.75 |
181 days to less than 1 year | 5.75 | 181 days to less than 1 year | 5.25 |
1 year to less than 2 years | 6.25 | 1 year to less than 2 years | 6.00 |
2 year to less than 3 years | 6.75 | 2 year to less than 3 | 6.50 |
3 year to less than 5 years | 7.00 | 3 year to less than 5 years | 6.50 |
5 years to less than 8 years | 7.25 | 5 years to less than 8 years | 7.25 |
8 years and up to 10 years | 7.50 | 8 years and up to 10 years | 7.50 |
Note: Term deposits for maturity period of "7 days to 14 days" will continue to be accepted for amounts of Rs. 1 Crore and above.
There shall be no premium in rate of interest for single domestic term deposit of ‘Rs.15 lakhs but less than Rs.1 Crore’ of any maturity.
The proposed rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. The interest rates on “Capgains Plus”, “SBI Tax Savings Scheme 2006(SBITSS)” schemes and NRO deposits shall be aligned as per the proposed rates for domestic term deposits. These rates of interest shall also be made applicable to domestic term deposits from Cooperative Banks.
The revised interest rates on Domestic Term Deposits of Rs One Crore & above with effect from 15.06.2009 would be as under:
Interest Rates for Deposits of Rs. One Crore & Above (% p.a.) | ||
Tenors | Rates w.e.f. 13.05.2009 | Revised w.e.f. 15.06.2009 |
7 days to 14 days | 1.50 | 1.50 |
15 days to 30 days | 2.00 | 2.00 |
31 days to 45days | 2.25 | 2.25 |
46 days to 90 days | 2.50 | 2.50 |
91 days to 180 days | 3.00 | 3.00 |
181 days to 270 days | 4.00 | 4.00 |
271 days to less than 1 year | 5.00 | 4.50 |
1 year and above | 5.50 | 5.00 |
Premature Payment of Term Deposits:
The instructions regarding interest rate to be charged on premature payment of domestic term deposits continue as under :-
Interest to be charged on premature withdrawal of term deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank.
Chief General Managers at Circles/ CAG/ MCG have been given discretion for reduction/ waiver of penalty for premature withdrawal of term deposits that have remained with our Bank for more than 1 year. The reduction/ waiver in penalty may be permitted on satisfying genuine need for premature withdrawal and value of the connection.
No premature penalty will be levied from staff and SBI pensioners. Interest rate to be paid on premature withdrawal of term deposits by staff and SBI pensioners will be same as applicable for the period deposit has remained with the Bank.
These instructions are also applicable for premature withdrawal of existing term deposits.
DEPOSITS OF Resident Indian SENIOR CITIZENS
Tenors | Existing w.e.f. 05.10.2009 (% p.a.) | Revised w.e.f. 09.11.2009 (% p.a.) | |
15 days to 45 days | 2.75 | 15 days to 45 days | 2.50 |
46 days to 90 days | 3.75 | 46 days to 90 days | 3.50 |
91 days to 180 days | 5.00 | 91 days to 180 days | 4.75 |
181 days to less than 1 year | 5.75 | 181 days to less than 1 year | 5.25 |
1 year to less than 2 years | 6.75 | 1 year to less than 2 years | 6.50 |
2 years to less than 3 years | 7.25 | 2 years to less than 3 years | 7.00 |
3 years to less than 5 years | 7.50 | 3 years to less than 5 years | 7.00 |
5 years to less than 8 years | 7.75 | 5 years to less than 8 years | 7.75 |
8 years and up to 10 years | 8.00 | 8 years and up to 10 years | 8.00 |
There shall be no premium in rate of interest for single domestic term deposit of ‘Rs.15 lakhs but less than Rs.1 Crore’ of any maturity.
STATE BANK REINVESTMENT PLAN
(Applicable to Domestic/NRO Deposits)
STANDARD TABLE FOR MATURITY VALUES OF A SPECIAL TERM DEPOSIT OF RS. 100/- w.e.f. 09.11.2009
Period in Months | Maturity value as per IBA MASTER CHART (4 decimal) | |
PUBLIC | STAFF | |
6 | 102.6422 | 103.1494 |
9 | 103.9894 | 104.7611 |
12 | 106.1364 | 107.1859 |
24 | 113.7639 | 116.0222 |
36 | 121.3408 | 124.9716 |
48 | 129.4222 | 134.6114 |
60 | 143.2261 | 150.4264 |
72 | 153.8957 | 163.2258 |
84 | 165.3601 | 177.1143 |
96 | 181.2024 | 195.9865 |
108 | 195.1796 | 213.1839 |
120 | 210.2349 | 231.8904 |
1. Interest has been compounded on the deposits at quarterly intervals.
2. The maturity value of Special Term Deposit should be calculated on the basis of IBA master charts (four decimal figures) and should be rounded off to the nearest rupee; fraction of 50 paise and above to be rounded off to next higher rupee and the fractions of less than 50 paise to be ignored.This must be done at the final stage only.
3. The rate of interest for staff is 1% higher than the prevailing desposit rates.
4. The above table is for reference only. The actual maturity value shall be calculated by the system.
Registered as the multi-state cooperative society in the year 1999 under the Multi-State Co-operative Societies Act, 1984, the CGCS, the only multi-state society which has been recognized by the Government of Andhra Pradesh, has recently amended its bye-laws as per the Multi-State Co-operative Societies Act, 2002.
The CGCS, one of the largest continuously profit making multi-state co-operative societies, is a conglomerate of chilly farming communities from Andhra Pradesh, Karnataka and Orissa and manned by experienced professionals for conducting the society’s regular activities.
The CGCS, a committed co-operative organization for the economic empowerment of chilly farmers, encourages chilly growers for marketing their products directly to the consumers through retailers and franchises.
The Society has been striving hard to encourage and train the chilly farmers to cultivate different varieties of chillies to suit different climatic conditions in order to see that maximum productivity is achieved in all weather conditions maintaining the quality.
The CGCS leaves no stone unturned in encouraging the chilly farmers in adopting the modern scientific methods of cultivation to achieve higher targets of chilly produce and reduce cost of production by sticking to the well-balanced use of fertilizers and bio fertilizers and pesticides and bio-pesticides.
Petroleum Minister Murli Deora asked Employees of public sector oil companies, whose strike has stoppd fuel supplies across India and also to get back to work right away Emerging from a meeting of the union cabinet, Deora told the media that officers should call off their strike at once.
