How to find the best rates for a Fixed Deposit
Part of the SBI umbrella, State Bank of Mysore offers customers fixed deposits of varying tenures and interest rates in keeping with market rate movements and the banks own liquidity requirements.
All changes made to interest rates on the banks FDs are constantly monitored and updated in the table above to enable real-time comparison of maturities based on the latest rates.
State Bank of Mysore Short-Term FD Rates
Rates offered on short-term holdings by the State Bank of Mysore start at 7.75% for 30, 60 and 90-day deposits. This is one of the best vis-a-vis other banks making them great investment options for those looking to maintain liquidity.
For those looking at investment horizons under the one-year mark, the 120-day and 6-month schemes offer an attractive 8%, enhanced to 8.5% on a 9-month deposit.
These rates hover around the 9% mark which is featured on schemes with tenures between 1 to 3 years. Deposit-holdings for 4 to 5 years are marginally lower by 0.1% at 8.9%, keeping returns on long-term holdings at par with other leading banks offering similar schemes.
State Bank of Mysore Senior Citizen FD Rates
Rates are more attractive for senior citizens on long-term holdings given a 0.5% increase on existing rates for schemes with tenures 6 months and above (up to 5 years). Rates on the 120-day deposit remains unchanged while rates for shorter-period deposits i.e. 30 days to 90 days are lower than existing rates ranging between 6.5% to 7.5%. This makes short-term deposits unattractive to senior customers of SBM.
All rates are on an annual basis with a quarterly compounding frequency.
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