State bank of India TDS

Hello buddy ! I want to know about State bank of India term deposits , and How much TDS will be charge on term deposits do you have any information regarding to it ?

[Shaleen]

Hello buddy as you want here we provides you information related to State
bank of India Term deposits and TDS charges as follows

Term Deposits

Minimum Deposit

Rs.1000/-

Maximum Deposit

No Limit

Payment of Interest

Payment of interest at Monthly Quarterly Calendar quarter basis as per your
requirement.

Payment of Monthly interest will be at discounted rate. Interest will be paid
at the contracted rate irrespective of change in the rates thereafter.

Senior Citizens get 0.25% extra interest rate for amount above Rs 10,000/-

Tenure

7 days to 10 years.

Premature payment

Available subject to penalty: for retail Term Deposits up to Rs 5.00 lacs, the
prepayment penalty will be ‘NIL' provided the deposits have remained with
the bank for at least 7 days.

For Term Deposits above Rs 5.00 lacs but less than Rs 1 crore, the
prepayment penalty will 1% for all tenors.

Loan facility

Loans OD up to 90% of the Principal deposit. here:


Nomination facility




Available

TDS

TDS at prevalent rate is deducted at source if Form 15G/15H not submitted.

Others information

Flexibility to convert Term Deposit (regular interest pay out) to STDR
(cumulative interest pay out) and vice versa.

Automatic renewals will take place only where there is no maturity
instructions recorded at the time of opening the Term Deposit account or any
time before maturity of deposit.

Most important Terms and Conditions

Premature penalty for Retail Term Deposits up to Rs 5.00 lacs will be ‘NIL'
provided the deposits have remained with the bank for at least 7 days.

For term deposit above Rs 5.00 lacs but less than Rs 1 crore , the
prepayment penalty will 1% for all tenors (0.50% at present).

Interest can be paid on monthly intervals on discounted rate.

Interest can also be paid at Calendar quarter basis.

TDS at prevalent Income tax rate is deducted if Form 15G/15H not
submitted.

Auto renewal is exercised if maturity instructions are not given.