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State Bank of India Fixed Deposit

 

State Bank of India Logo

Min. Deposit
$50,000

Interest Rate
up to 2.05%

Review on State Bank of India Fixed Deposit

Pros
High interest rate

Cons
Slow and inefficient service at branches
Foreign Bank with few branches

 

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Details

12 mths
$50k to $1m 2.05% p.a.

Earn 2.05% interest p.a. for a 12 months tenure

The promotion is applicable for fresh and renewal of funds

The minimum deposit amount per individual or per joint account with the same individuals is SGD 50,000

Multiple deposits can be placed by the customer as long as the maximum amount per individual or per CIF is $1,000,000

Unless otherwise instructed in writing at least three working days prior to the maturity date of the deposit, the term deposit will be renewed automatically on maturity for the same period as the original deposit at the SBI Prevailing Term Deposit Board Rate of interest at the time of renewal.

 

Click here to go to State Bank of India website for more details

 

 

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Reviews or Comments (13)

Ave. Rating:
3/5 (22)
Topic: State Bank of India Fixed Deposit Review
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BabaBlackSheep
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1
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0
Jul 2019
BabaBlackSheep says...

Just done a FD here. The rates are indeed better than other banks. Fully agree with the previous posts on slow service and dragging of feet and clumsy services. Hopefully someone from the bank will take corrective actions ...

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LK SEK
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8
2
0
Jun 2018
LK SEK says...

Went to Ang Mo Kio branch to redeem FD about 3 mths ago. Very slow and inefficient service. 4 counter staff with 2 customers at time of my visit. Instructions on queue ticketing machine was not clear. Waited 35 min for my turn to be told that I’ve taken the wrong queue transaction number and was asked to take another queue number to re- queue.

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LK SEK
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8
2
0
Jun 2018
LK SEK says...

I refused and the manager idling in the office eventually came out to attend to me personally. When I asked the manager on why there’s a feedback box but no feedback forms provided. His reply was that they don’t use it any more as it’s been replaced by computer system which unfortunately was/is not functioning. I’ll think twice before placing future FD there unless I am prepared to put up with their inefficient service.

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Retired Uncle
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1
1
0
Jun 2019
Retired Uncle says...

Put in $ very fast. Withdraw $ very slow. I make noise, they said system down. But all other customers still can put in $ while I wait and wait and wait. I waited for more than 2 hrs and so scared cannot get my $ back. Very scare now with this bank.

1 2 3 > Last

 

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