How to find the best rates for State Bank of Hyderabad Fixed Deposit
State Bank of Hyderabad is a government bank which is a subsidiary of the State Bank of India. Among the wide range of banking services offered by SBH are the various schemes that they have for customers who want to open fixed deposits with them.
These fixed deposits can be opened from 7 days onwards and offer attractive interest rates. The interest rates applicable are decided based on the amount being put in the fixed deposit, the duration for which the FD is being opened and some other considerations like depositors being employees of SBH or senior citizens.
State Bank of Hyderabad Short-Term FD Rates
For fixed deposits made for durations of 7 days to 90 days, State Bank of Hyderabad offers an annual interest rate of 7% which increases by 1% for deposits made for tenures of 91 days to 179 days bringing the total interest rate to 8% per annum.
Deposits made for 180 days to 1 year enjoy an interest rate which is 0.5% higher at 8.5% per annum.
State Bank of Hyderabad Medium and Long-Term FD Rates
Deposits that are held with the bank for 1 year to just under 3 years are eligible for an attractive interest rates of 8.8% while deposits that are held for 3 years to 5 years attract an interest rate which is 0.2% less at 8.6% per annum.
State Bank of Hyderabad Senior Citizen FD Rates
State Bank of Hyderabad also offers its customers senior citizen fixed deposit accounts where the depositor gets an extra 0.3% interest per annum for all deposits made for more than 1 year. This means that the lowest interest offered to them is 7.3% per annum and the highest is 9.1% per annum. This facility is also subject to other condition laid down by the bank.
From the information mentioned above it is clear that the best interest rates are offered for deposits held for 1 to 3 years. The interest rates mentioned here are as per the latest rates issued by the bank and may change without prior notice.
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