State Bank of Mysore was set up in the year 1913 as Bank of Mysore Ltd. under the support of the recent Govt. of Mysore, at the case of the keeping money board of trustees headed by the colossal Engineer-Statesman, Late Dr. Sir M. Visvesvaraya. In this manner, in March 1960,the Bank turned into an Associate of State Bank of India. State Bank of India holds 92.33% of shares.

State Bank of Mysore is a nationalized bank going about as a backup of SBI Group and is headquartered in Bangalore. The Bank offers unique venture plans and term store alternatives went for helping their clients to procure more reserve funds over their customary salary. One among these plans is its Recurring Deposit conspire that can be opened with at least just Rs. 100 and in products of Rs. 10 from that point. There is no most extreme farthest point on the sum that can be saved. The store term ranges from 12 months to 10 years. Untimely withdrawal of assets accessible in the Recurring Deposit is allowed.

State Bank of Mysore Short-term Recurring Deposit Interest Rates

State Bank of Mysore offers Recurring Deposit for a short store term from at least 12 months to under 2 years at a loan fee of 7.60% for normal clients. For holding a RD for a brief span of over 2 years to not over 3 years, the rate of premium offered by the Bank is 7.50%.

SBM Medium and Long Term Recurring Deposit Interest Rates

State Bank of Mysore likewise offers medium store residencies and long store residencies on Recurring Deposit. Medium residencies for holding a RD account with the Bank ranges over a time of over 3 years to 5 years and the loan fee material is 7.50%. The long haul RD can be held with the Bank for a residency of over 5 years to a most extreme time of not over 10 years, at a loan fee of 7.50% also.

State Bank of Mysore Senior Citizen RD Interest Rates

State Bank of Mysore offers Senior Citizens 0.40% extra enthusiasm over the loan fee offered to the overall population. For this situation, they will get 8.00% loan cost for a transient RD running from 1 year to 2 years and for a time of over 2 years to not over 3 years the financing cost appropriate will be 7.90%. For a medium term and long haul repeating store going from 3 years to 10 years, the financing cost offered by the Bank is 7.90%.

RD Interest Rates below One Crore

Tenure Of Recurring Deposit
ROI (% p.a.)
ROI For Senior Citizens (% p.a.)

1 Year to less than 2 Years
7.60
8.00%

2 years to not more than 3 years
7.50
7.90%

3 years up to 5 years
7.50
7.90%

Above 5 Years and up to 10 Years
7.50
7.90%