State Bank of Bikaner and Jaipur FD Interest Rates
SBBJ or State Bank of Bikaner and Jaipur, an affiliate bank of State Bank of India (SBI), India’s largest bank with about 15,000 branches across India and abroad, provides a variety of State Bank of Bikaner and Jaipur FD schemes with competitive interest rates. Furthermore, senior citizens will benefit from a higher interest rate than the applicable rate at the time of deposit.
State Bank of Bikaner and Jaipur FD Features
- A 7-day deposit is required to open an FD account.
- The maximum term for an FD account is ten years.
- The minimum sum to deposit is Rs.1,000.
- You can open a State Bank of Bikaner and Jaipur FD account online or in person at any SBBJ branch.
- Interest rates are competitive for all tenures and schemes.
- Senior citizens over the age of 60, SBBJ employees, and State Bank of Bikaner and Jaipur pensioners are all entitled to higher interest rates.
- It is possible to appoint anyone.
- Transfer the account between State Bank of Bikaner and Jaipur branches.
- Depending on the scheme, interest may be paid monthly, quarterly, half-yearly, yearly, or at maturity.
State Bank of Bikaner and Jaipur FD Interest Rates
| Tenure | FD Interest Rates for General Citizens |
FD Interest Rates for Senior Citizens
|
|
7 days – 45 days
|
2.90% | 3.40% |
|
46 days – 179 days
|
3.90% | 4.40% |
|
180 days – 210 days
|
4.40% | 4.90% |
|
211 days – 364 days
|
4.40% | 4.90% |
|
1 year – 1 year 364 days
|
4.90% | 5.40% |
|
2 years – 2 years 364 days
|
5.10% | 5.60% |
|
3 years – 4 years 364 days
|
5.30% | 5.80% |
|
5 years – 10 years
|
5.40% | 6.20% |
Documents required to open State Bank of Bikaner and Jaipur FD Account
- PAN Card or declaration in Form No. 60 or 61 as per the Income Tax Act
State Bank of Bikaner and Jaipur FD Schemes
Reinvestment Plan:
- This is a form of fixed deposit where the interest is only paid out at the end of the term.
- Only at the maturity of the deposit is interest charged.
- There is a nomination option open.
- On the deposit, there is a credit facility of up to 90%.
- Auto-renewal service is available on the deposit.
- Senior citizens are entitled to an additional 0.50 percent interest rate.
Who is eligible?
- Indians who reside in India and are over the age of 18.
Regular Fixed Deposit:
- The depositor is permitted to invest in the deposit to gain attractive and higher returns, as well as flexibility and stability, under this scheme.
- Only at the maturity of the deposit is interest charged.
- There is a nomination option open.
- Senior citizens are entitled to an additional 0.50 percent interest rate.
- Auto-renewal service is available on the deposit.
- Get a better return on your money by depositing it.
Who is eligible?
- Indians who live in the country, private or public limited companies, Hindu undivided families, trust and partnership firms
Money Multiplier Plan:
- Money multiplier plans allow depositors to connect their fixed deposit account to their savings account, resulting in a higher interest rate.
- On the deposit, there is a credit facility of up to 90%.
- There is a nomination option open.
- Only at the maturity of the deposit is interest charged.
- Senior citizens are entitled to an additional 0.50 percent interest rate.
- Section 80C of the Income Tax Act of 1961 provides for tax benefits on deposits.
Who is eligible?
- Indians who live in the country, private or public limited companies, Hindu undivided families, trust and partnership firms
Flexi Deposit Scheme
- This scheme is similar to recurring deposits, where instead of making a single fixed deposit, a depositor may make several deposits at any time during the month.
- Deposits can be made at any time during the month and in any amount.
- There is a nomination option open.
- The interest on your deposit is compounded on a quarterly basis.
- On the deposit, there is a credit facility of up to 90%.
- Senior citizens are entitled to an additional 0.50 percent interest rate.
Who is eligible?
- Indians who live in the country, private or public limited companies, Hindu undivided families, trust, and partnership firms.
Premature Withdrawal State Bank of Bikaner and Jaipur FD Rates
Premature termination of a State Bank of Bikaner and Jaipur Term Deposit results in a 0.50 percent to 1% lower interest rate than the agreed rate. The penalties for prematurely closing a State Bank of Bikaner and Jaipur FD will vary depending on the deposit scheme and are subject to change.
Loan against Fixed Deposit State Bank of Bikaner and Jaipur
State Bank of Bikaner and Jaipur offers loans of up to 90% secured by its own deposits. If you have an FD with another bank, the State Bank of Bikaner and Jaipur will not lend you money. State Bank of Bikaner and Jaipur offers a fixed deposit (FD) loan with interest rates ranging from 3.9 percent to 6.4 percent.
The maximum loan period is equal to the maximum term of the FD.
State Bank of Bikaner and Jaipur FD Rates Calculation
A number of variables affect the amount of interest you receive on your deposit, including the amount invested, tenure, rate of interest, compounding frequency, and taxes. One of the simplest ways to calculate the interest earned on your FD is to use the FD calculator, which is available on the internet. It is the most common approach for calculating interest.
State Bank of Bikaner and Jaipur FD Account Opening Process
By going to SBBJ’s official website and logging in, you can open a Fixed Deposit account. Select Fixed Deposit from the drop-down menu, then the FD Sort you want to open and select Next. After that, fill in the deposit amount and pick the ‘Senior Citizen’ choice if you are over 60. You must choose the deposit term and interest payment frequency. After reading the terms and conditions, click Submit to open the State Bank of Bikaner and Jaipur FD.
Nomination Facility on State Bank of Bikaner and Jaipur FD
SBBJ has a nominating facility for Fixed Deposits, allowing the depositor’s estate to claim the funds in the event of the depositor’s death. A nominee may be appointed by a person, a single account holder, or a joint account holder. No more than one person may be named as a candidate. When you open a State Bank of Bikaner and Jaipur FD, you can fill out nominee details. At the time of argument, the nominee must have identity evidence.
Tax Benefits on State Bank of Bikaner and Jaipur FD
The State Bank of Bikaner and Jaipur provides a Tax Savings Scheme, 2006, which requires a minimum deposit of Rs.1,000 and subsequent deposits in multiples of Rs.100. You can deposit a limit of Rs.1.5 lakh in the account. While the account has a 5-year lock-in term, it can be kept open for up to ten years. You can receive income tax benefits under Section 80C of the Income Tax Act of 1961 if you deposit money in this account. Senior citizens receive an extra 0.5 percent interest rate on the applicable rate. Similarly, State Bank of Bikaner and Jaipur employees and retirees are charged an extra 1% interest rate on the applicable rate.
Furthermore, the bank can subtract tax at source depending on the interest you receive on your State Bank of Bikaner and Jaipur FD accounts at all of the bank’s branches. TDS will be applied at a rate of 10%. Due to the pandemic, it has been reduced to 7.5 percent between May 2020 and March 2021. If your annual income is below the basic exemption cap, you can request that your bank not deduct tax at the source using Form 15G/15H.
For more details visit Dialabank official site.
FAQs on State Bank of Bikaner and Jaipur FD Interest Rates
✅What is the highest FD rate for SBBJ?
On an SBBJ fixed deposit, you will receive up to 5.40 percent in interest.
✅Are there any special rates for senior citizens FD of SBBJ?
Yes, as opposed to FD rates, senior citizens receive a higher return on their deposits. Standard FDs have rates ranging from 2.90 percent to 5.40 percent. In comparison, the FD rate for senior citizens ranges from 3.40 percent to 6.20 percent.
✅Is there any minimum amount that I have to give for opening a Fixed Deposit with SBBJ?
SBBJ requires a minimum deposit of 1,000 to open a fixed deposit account.
✅What documents are required to open an FD account in SBBJ?
PAN Card or declaration in Form No. 60 or 61 as per the Income Tax Act are necessary documents to open an FD account with SBBJ.
✅Is it possible to change the tenure of my existing fixed deposit account with SBBJ?
No, once a fixed deposit account is opened, it is not possible to adjust the tenure chosen. You can, however, close your current fixed deposit account and open a new one with the duration you want.
