SIB FD Interest Rate
the bank will now offer FD Interest Rates In the range of 2.65 percent to 5.85 percent for regular citizens with tenures ranging from 7 days to 10 years. The interest rate on South Indian Bank Tax Saving FD with tenure of 5 years is 5.80 percent for general public and 6.30 percent for senior citizens. The bank offers different types of fixed deposits to meet the different needs of the customers.
saving account
offers a variety of savings accounts With various features and perks. SIB offers an annual interest rate of up to 4.75 percent.
Penalty for premature withdrawal of FD
From June 1, 2022, the penalty for early withdrawal of retail fixed deposits (including NRE and recurring deposits) will be 0.50 per cent for deposits of less than Rs. 5 lakh and 1 per cent for deposits exceeding Rs. 5 lakhs. The enhanced penalty is effective for any fixed deposit made or renewed on or after June 1, 2022. The effective rate will be the net of the relevant rate applicable on the amount and tenure of the deposit (minus the penalty rate), whichever is less.