State Bank of India CD Rates

author — Fri, 17 Apr 2009 12:05:38 +0000

Those who regularly invest overseas are likely already aware of the nuances and requirements for doing so. Investing in foreign accounts can be lucrative and we here at Best CD Rates Today know that one of the favorite places for foreign investors to put their money is in the State Bank of India (SBI). So we thought we should look at the State Bank of India CD rates to show you what’s available.

First, SBI does not call them certificates of deposits, but rather just simple “term deposits.” Foreign currency, non-resident deposits (FCNR) in SBI are, in addition, not eligible for government insurance protection in either India or the United States. But the CD rates at SBI for those who wish to keep their money out of country are worth looking at.

A CD at State Bank of India has several tiers of return, based on the time period. 1 year CD rates at SBI garner a lower yield than 5 year terms. Right now, the SBI CD rates for 1-2 year terms are 2.97% annual percentage yield (APY). For 4 years, the CD rates at SBI are 3.15% APY while a 5 year CD at State Bank of India yields 3.47% APY.

For the even longer-term investor, special reinvestment plans are also available which can ad more simple interest to your yield if reinvested.

The offers on State Bank of India CD rates are variable, of course, and can change at any time. So if these SBI CD rates are right for you, get in quickly.

Best CD Rates » State Bank of India CD rates

State Bank of India CD Rates