This Foreign Bank Recently Revised FD Rates, Now Offering Up To 8.25% Interest; Check Rates

Millions of people in India prefer fixed deposits (FDs) for their investments, particularly those who fall into the middle-income bracket. When it comes to high interest rates on FDs, Small Finance Banks (SFBs) and Non-Banking Financial Companies (NBFCs) provide better returns on Fixed Deposits (FDs). However, their are few banks that offers high rates on FDs. One such bank is SBM Bank (India) Ltd.

SBM Bank (India) Ltd.

SBM Bank (India) is a foreign bank operating in India backed by SMB Group is providing a maximum interest rate of 8.25% rate on FDs to the general public. The bank recently revised interest rates, new rates are applicable from May 25, 2023.

On deposits under Rs. 2 crores with a term of between 3 years and 2 days and 5 years, the bank is offering a maximum interest rate of 8.25%. The bank provides 0.5% additional interest to senior citizens (only applicable for deposits for Resident Indians).

SBM Bank is currently offering various interest rates on its fixed deposit schemes. The bank provides FD rates to Resident & NRO and NRE Deposits.

The bank offers Interest Rates on the deposit amount of up to Rs. 15 lakhs, More than Rs. 15 lakh to less than Rs. 2 Crore (Non-Callable), and More than Rs. 15 lakh to less than Rs. 5 Crore (Non-Callable).

In addition, it also offers interest rates on Rs. 2 Crore up to Rs. 5 Crore (Callable) and Rs. 2 Crore up to Rs 5 Crore (Non-Callable).

Interest rates on Resident & NRO Fixed Deposits w.e.f. 25 May 2023

Tenure	Up To INR 15 Lakhs	More Than INR 15 Lakhs To Less Than INR 2 Cr (Callable)	More Than INR 15 Lakhs To Less Than INR 2 Cr (Non Callable)	INR 2 Cr Up To INR 5 Cr (Callable)	INR 2 Cr Up To INR 5 Cr (Non Callable)
7-14 days	4.25%	4.25%	4.25%	5.10%	5.10%
15-30 days	4.25%	4.25%	4.25%	5.10%	5.10%
31-45 days	4.25%	4.25%	4.25%	5.35%	5.35%
46-60 days	4.25%	4.25%	4.25%	5.35%	5.35%
61-90 days	4.25%	4.25%	4.25%	5.85%	5.85%
91-120 days	4.80%	4.80%	5.00%	6.55%	6.95%
121-180 days	5.00%	5.00%	5.20%	6.80%	6.95%
181-210 days	6.55%	6.55%	6.75%	6.80%	7.05%
211-269 days	6.55%	6.55%	6.75%	6.90%	7.05%
270 below 1 year	6.55%	6.55%	6.75%	7.25%	7.40%
1 year and 1 year 1 day	7.05%	7.05%	7.25%	7.30%	7.65%
1 year 2 days	7.05%	7.05%	7.25%	7.30%	7.65%
> 1 year 2 days to 389 days	7.05%	7.05%	7.25%	7.30%	7.65%
390 days	6.50%	6.50%	6.70%	7.30%	7.65%
391 days to 15 months	7.05%	7.05%	7.25%	7.30%	7.65%
> 15 months to 18 months	7.05%	7.05%	7.25%	7.30%	7.65%
> 18 months to	7.30%	7.30%	7.50%	7.30%	7.65%
2 years 3 days	7.30%	7.30%	7.50%	7.20%	7.55%
> 2 years 3 days up to	7.65%	7.65%	8.10%	7.30%	8.00%
3 years 2 days	7.70%	7.70%	8.15%	7.10%	8.00%
> 3 years 2 days up to	7.80%	7.80%	8.25%	7.10%	7.50%
5 years	7.65%	7.65%	8.10%	7.10%	7.50%
> 5 years up to 10 years	7.65%	7.65%	8.10%	7.10%	7.50%

Interest rates on NRE Fixed Deposits w.e.f. 25 May 2023

Tenure	Up To INR 15 Lakhs	More Than INR 15 Lakhs To Less Than INR 2 Cr (Callable)	More Than INR 15 Lakhs To Less Than INR 2 Cr (Non Callable)	INR 2 Cr Up To INR 5 Cr (Callable)	INR 2 Cr Up To INR 5 Cr (Non Callable)
1 year and 1 year 1 day	7.05%	7.05%	7.25%	7.30%	7.65%
1 year 2 days	7.05%	7.05%	7.25%	7.30%	7.65%
> 1 year 2 days to 389 days	7.05%	7.05%	7.25%	7.30%	7.65%
390 days	6.50%	6.50%	6.70%	7.30%	7.65%
391 days to 15 months	7.05%	7.05%	7.25%	7.30%	7.65%
> 15 months to 18 months	7.05%	7.05%	7.25%	7.30%	7.65%
> 18 months to	7.30%	7.30%	7.50%	7.30%	7.65%
2 years 3 days	7.30%	7.30%	7.50%	7.20%	7.55%
> 2 years 3 days up to	7.65%	7.65%	8.10%	7.30%	8.00%
3 years 2 days	7.70%	7.70%	8.15%	7.10%	8.00%
> 3 years 2 days up to 5 years	7.80%	7.80%	8.25%	7.10%	7.50%
> 5 years up to 10 years	7.65%	7.65%	8.10%	7.10%	7.50%

Source - sbmbank.co.in

About - SBM Bank (India) Ltd.

SBM Bank (India) Ltd. commenced operations on 1st December 2018 as the 1st universal bank in the country to receive a banking license from the Reserve Bank of India (RBI) through the Wholly Owned Subsidiary (WOS) route. We have a network of 11 branches spread across the country, namely Mumbai, New Delhi, Chandigarh, Pune, Bengaluru, Chennai, Hyderabad, Ahmedabad, and Kolkata, also including rural centres like Ramachandrapuram, Palghar and Abitghar have begun to build a multichannel digital product suite to cater to customer's needs.