Get the Finder app 🥳

Track your credit score

Free

State Bank of India Term Deposit

Last updated:  

The State Bank of India allows Aussies to earn a high interest rate on even a short term term deposit.

India’s largest commercial bank, the State Bank of India, offers Australians a competitive term deposit to help meet financial goals. This is an ideal account if you are looking for a short term place to stow your super funds in between any longer term investment opportunities.

Up to 1% p.a.

Interest rate

6 months interest rate

$250,000

Minimum opening deposit

We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder.

Details

Product NameState Bank of India Term Deposit
3 month interest rate0.95%
6 month interest rate1.00%
12 month interest rate1.00%
24 month interest rate0.90%
36 month interest rate0.90%
48 month interest rate0.90%
60 month interest rate0.90%
Minimum Opening Deposit$250,000
Minimum Age Requirement18
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

Tiered interest rates up to 1% p.a.

The interest rates offered by the State Bank of India are competitive, allowing you to see a substantial increase on your investment. They are also tiered, meaning the longer you invest your money the higher the interest rate is.

Minimum deposit of $250,000

Australian residents will need to be able to deposit $250,000 in order to open a term deposit while non-residents, incorporated entities and SMSFs will need $20,000.

Launch term deposit calculator


How to apply

You will need to speak directly with a representative from the State Bank of India if you wish to open a term deposit with them. Their offices are located in Sydney, or you can call them to find an alternative to establishing your term deposit. Some of the eligibility requirements that they will ask you to meet include and the documents you will need are below.

Eligibility

  • Minimum age. You'll need to be at least 18 years old to apply online.
  • Residency requirement. This account is available for any resident or non-resident of Australia.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site