Secure Your Future with SBT Fixed Deposit

The State Bank of Travancore fixed deposit schemes have the solution to a secure and stress-free future

About State Bank of Travancore

State Bank of Travancore was established in 1945 as Travancore Bank LTD. and was sponsored by the former Princely State of Travancore. Under the SBI subsidiary Banks Act 1959, the special statute of the Indian Parliament, State Bank of Travancore was granted membership of the State Bank Group which is the largest banking group in India. State Bank of Travancore has also deemed an Associate of the State Bank of India.

Eligibility

State Bank of Travancore offers the opportunity for children of 10 years and above to open a fixed deposit account with a maximum deposit limit of Rs.2 Lakhs. In the event that a minor who is below the age of 18 years is offered guardianship, the maximum limit that the minor can deposit into their fixed deposit account is Rs.20 Lakhs.

An existing State Bank of Travancore bank account is not a prerequisite to open a fixed deposit account.

Adults over the age of 18 years can enjoy a fixed deposit account with State Bank of Travancore without any maximum limit cap on their fixed deposit account.

State Bank of Travancore Fixed Deposit Loan Schemes

Following are the categories that State Bank of Travancore offers fixed deposit schemes in-

●     Domestic deposits

○     Less than Rs.1 crore

○     Rs.1 crore and above

●     NRO fixed deposits

○     Less than Rs.1 crore

○     Rs.1 crore and above

●     NRE fixed deposits

○     Less than Rs.1 crore

○     Rs.1 crore and above

Interest Rates offered on State Bank of Travancore fixed deposits-

FIXED DEPOSIT TYPE	AMOUNT	INTEREST RATES
Domestic deposits	Less than Rs.1 crore	7.5% - 9.25%
Domestic deposits	Rs.1 crore and above	7.0% - 8.75%
NRO fixed deposits	Less than Rs.1 crore	7.0% - 8.75%
NRO fixed deposits	Rs.1 crore and above	6.50% - 8.75%
NRE fixed deposits	Less than Rs.1 crore	8.75%
NRE fixed deposits	Rs.1 crore and above	8.25%

Amount that can be placed in your fixed deposit account

The minimum amount you can place in your fixed deposit account with State Bank of Travancore is Rs.1000. The best part about State Bank of Travancore fixed deposits is that there is no cap on the maximum amount that you can invest in your fixed deposit account. The only thing that you have to keep in mind is that an existing account cannot be updated with monetary inputs. In order to place more sums of money under a fixed deposit scheme, a new fixed deposit account needs to be created.

Tenure Period of your fixed deposit account

State Bank of Travancore offers its customers fixed deposit account tenures starting from 7 days and all the way up to 10 years. You can pick the tenure most beneficial to you at your discretion.

Are the fixed deposit accounts with State Bank of Travancore taxable?

State Bank of Travancore fixed deposit interests paid are tax deductible if the interest rate on the fixed deposit exceeds Rs.10000.

What about loans provided against fixed deposits?

State Bank of Travancore offers you loans against your fixed deposit account to a loan amount of up to 90% of your term deposit amount. Furthermore, the interest rate you are charged will be 1% of your State Bank of Travancore fixed deposit interest rate.

Special Rates for Senior Citizens

State Bank of Travancore offers attractive special rates for senior citizens under the domestic deposit scheme of less than Rs.1 crore.

State Bank of Travancore is a stable institution to invest with

State Bank of Travancore has the answer to all of your imminent financial fears. State Bank of India has infused capital into State Bank of Travancore, thus increasing its capital to Rs.6018.46 crores as evaluated on December 31st 2014. Its non-performing assets percentage has decreased by leaps and bounds in the last quarter. Furthermore, State Bank of Travancore’s capital to risk weighted assets ratio has shown a substantial increase. Also, State Bank of Travancore has shown steady a increase in bank deposits, NRI deposits and yield on advances with its phenomenal decreases in cost of deposits and its total advances.
Know More about NRI Fixed Deposit Scheme

What are the Benefits of Fixed Deposit Policy?

A good investment portfolio comprises of a balanced bag of secured and risky investments. Although an investor can invest in capital market instruments for gaining high returns, they are more subject to market risk. For this reason, fixed deposits offered by financial institutions, like banks, are quite favorable for investors because of their guaranteed returns.

A fixed deposit, or FDs as they are generally known, is a financial instrument wherein the customer deposits his investments for a fixed tenure with the bank and earns a pre-determined rate of interest on it.

Features of Fixed Deposit

The fixed deposits have the following key features:

·         Fixed deposits offer a higher interest rate, which helps the individual save their surplus funds in an effective and secured way.

·         The rate of interest varies as per the period, the amount and the respective bank.

·         The period of fixed deposit is usually between 15 days to 10 years.

·         As the name suggests, this is a ‘fixed’ investment which implies that the withdrawal can be done only after the maturity of fixed tenure. Although, in case of an emergency, there is a feature to close the account prior to the maturity date. In such a scenario, the bank deducts 1% as a penalty from interest payable as on that date.

·         A fixed deposit receipt is given to the depositor, which he needs to produce at the time of maturity. In case the depositor is interested, the same deposit can be renewed further.

Benefits of Fixed Deposit

Bank fixed deposits have been one of the most favored investment avenues with all age groups in India. Below listed are the advantages of these deposits which make them so popular with investors:

• ·         A safe instrument: Fixed deposits from banks are one of the safest instruments to invest as they are regulated by the Reserve Bank of India (RBI) and guaranteed by the Deposit Insurance & Credit Guarantee Scheme of India. This is the major reason why company FDs are not as safe as bank FDs because if the company goes bankrupt, the entire money could be lost as they are not covered under this regulatory body.
• ·        Fixed deposits offer good liquidity: These deposits help in generating regular income in the form of interests. The depositor can also get loan facility (up to 90% of the principal amount) on these deposits from the bank.
• ·         Fixed deposits help in the economic development of the country: These deposits indirectly help in the economic development by raising long term funds for banks which they can invest in high return projects. This cycle helps in increasing the overall profitability of the bank.
• ·     Convenience: Bank fixed deposits offer great comfort and ease to an investor as they can save according to their need and budget. The investments can start from a very small amount of Rs. 100 with no upper limit on the same.

Bank fixed deposits have been one of the best traditional strategies to preserve one’s capital among all age groups and profiles. Banks are constantly adding new benefits and schemes to the existing plans to make them more lucrative for customers so that they can use this as a primary source of investment.
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