State Bank of Mysore SBM has a strong Fixed Deposits FD customer base owing to its unique FD products that serve the investment and savings needs of a variety of investors.

FDs offered by State Bank of Mysore are a safe savings solution featuring guaranteed returns for a fixed period of time.

State Bank of Mysore offers a variety of fixed deposit schemes which are targeted at particular individuals.

Fixed Deposit Schemes-

Centenary Liquid Term Deposit

This fixed deposit scheme by SBM targets high net worth individuals and offers them a higher rate of interest.
Anyone can open an FD under this scheme and the minimum amount for this scheme is ₹ 1 Cr.
The maximum amount is ₹ 50 Cr.
This FD can be held for a period of 7 to 179 days.

Mybank Suraksha Time Deposit Account

This term deposit scheme is only open to resident Indian’s and NRI’s are excluded from it.
The minimum deposit for this scheme is ₹ 1 lakh and can go as high as ₹ 1 Cr.
The duration that such a fixed deposit can be held for is 1 year to 3 years.

SBM - Tax Saver Scheme

This scheme is targeted at those who want to use fixed deposits to gain tax benefits.
The maximum amount that can be invested under this scheme is ₹ 1.5 lakhs in one financial year.
This deposit has to be made for a minimum period of 5 years and cannot be closed prior to maturity.

FD Minimum Amount Required -

The minimum deposit that can be made with SBM under a term deposit scheme is ₹ 100 under the Recurring Deposit.

This deposit can be made via regular payments every month and can be held for a period of 12 months to 120 months.

Maximum Amount –

The maximum amount that can be deposited in an SBM FD account is ₹ 50 Cr. under the ‘Centenary Liquid Term Deposit’ scheme which is designed to benefit high net worth individuals by offering them higher interest rates and shorter durations of 7 to 179 days.

Interest Rates -

Interest rates offered by SBM on its fixed deposits vary from one scheme to another.

The interest rates are split into three categories i.e. term deposits of less than ₹ 1 crore, Deposits between ₹ 1 to ₹ 5 crores and Deposits in excess of ₹ 5 crores.

Interest rates vary according to the amount invested and range from 7.25% to 9%. Senior citizens get an extra 0.50% interest.

Customer service: 1800 425 2244