Fixed Deposit

Open a Fixed Deposit online with SBM Bank from the comfort of your home, with our internet banking and mobile banking platforms. Simply log into your online banking platforms and navigate the Fixed Deposit option. Select your preferred tenure, deposit amount and deposit type. Alternatively, you can visit our SBM Bank branch to open a Fixed Deposit offline.

SBM Bank offers FD tenures starting from 7 days for up to 10 years. At the time of FD booking, you can select a tenure of your choice, per your short-term, mid-term or long-term financial goals. Fixed tenure of five years is applicable to our tax-saving FDs.

You can earn attractive interest rates of up to 8%* per annum with SBM Bank FDs. Different interest rates will be applicable to different tenures. What is more, Resident Indian senior citizens can enjoy an additional 0.5% per annum FD interest rates.

You can instantly transfer funds from your SBM Bank Savings Account to open an FD online. You can finance your FD via your internet banking and mobile banking platforms. For account opening at bank branch, you can opt for cash or cheque payments.

You can choose whether you want your interest payouts to be on a monthly or quarterly basis. With the compound interest route, you can earn interest on interest. You can reinvest both, the interest earned and the principal amount, and continue to enjoy the perks of FDs.

You can opt for either auto renewal of only principal amount or auto renewal of both interest and principal amount. The bank will renew the FD for the same tenure at the prevailing interest rate at the time of renewal. Alternatively, you can choose to close the FD and receive the entire maturity amount in your Savings Account.

With the callable FD options, you can close your FD prematurely. This way, you can meet your emergency fund requirements immediately. A penalty shall be applicable to premature FD withdrawals.

You can appoint a nominee to receive your FD proceedings. In case the nominee is a minor, you can appoint a non-minor individual to receive the amount on behalf of the minor applicant. Such individuals must be lawfully entitled to act of behalf of the minor.

To meet your financial needs without breaking the FD, you can opt for Loan against Fixed Deposit. With this facility, you can pledge your FD as a security and receive a percentage of the FD amount as a loan from the bank. With SBM Bank, you can avail of a loan against your FDs at any time, with tenures equivalent to or less than the residual FD tenure.

You can open an SBM Bank FD jointly with up to two additional individuals. You can also select the mode of operation for your FD, whether on ‘either or survivor basis’, ‘anyone or survivor basis’, or ‘former or survivor basis’. You can also open an FD jointly with a minor.