One of the prominent public sector institutions of the country, State Bank of Bikaner and Jaipur (SBBJ) operates all across the country providing financial solutions to the customers. At a minimum criterion, the bank is providing fixed deposit schemes of different tenures ranging from the shortest of seven days to the maximum of ten years at attractive interests.
However, the rates are dynamic and may change according to the bank’s market conditions and liquidity requirements.
For the holding period of one year, the bank offers varying interest rates between 5.5% and 7.5% per annum. For the deposit period between six months and up to one year, the highest rate of 7.5% per annum is offered by the bank. Moreover, for the shortest tenure of 7-45 days, the rate of interest is calculated at 5.5% per annum, and it is enhanced to 6.75% per annum fir the deposit period of 45 days to three months. The highest rate of 7% per annum can be availed for the holding period of three moths to six months.
For the deposit period between one to five years, the highest rate of 8.5% per annum can be availed. The compounded rate at the end of the tenure is much higher than 8.5% per annum.
For the deposits of up to one crore, the senior citizens can avail the benefits of special returns, although it is only applicable for the tenures under one year. Moreover, the senior citizens can enjoy extra 0.25% on the above-mentioned rates.