SBI Reinvestment Special Term Deposit

SBI Reinvestment Special Term Deposit

India Fixed Deposit Rates blogspot highlights SBI Reinvestment Special Term Deposit rates this September 2009.

SBI Reinvestment Special Term Deposit:
Maturity value as per IBA MASTER CHART (4 decimal)
Period In Months | PUBLIC | STAFF
6 months= 103.0225 103.5306
9 months= 104.5678 105.3424
12 months= 106.6602 107.7136
24 months= 114.8882 117.1659
36 months= 124.0547 127.7599
48 months= 133.2962 138.6306
60 months= 144.9948 152.2795
72 months= 156.1791 165.6417
84 months= 168.2261 180.1764
96 months= 184.7938 199.8613
108 months= 199.5369 217.9314
120 months= 215.4563 237.6353

1. Interest has been compounded on the deposits at quarterly intervals.

2. The maturity value of Special Term Deposit should be calculated on the basis of IBA master charts (four decimal figures) and should be rounded off to the nearest rupee; fraction of 50 paise and above to be rounded off to next higher rupee and the fractions of less than 50 paise to be ignored.This must be done at the final stage only.

3. The rate of interest for staff is 1% higher than the prevailing desposit rates.

4. For the product of 1000 days, the maturity value can be calculated by taking the maturity value up to the completed quarters as explained above and then adding the simple interest for the remaining number of days.

5. The above table is for reference only. The actual maturity value shall be calculated by the system.

SBI reinvestment special term deposit rates may change at any time. Before investing money in these special term deposit rates, you should verify fixed deposit rates with bank before using the information for financial investments.

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