South Indian Bank Revised Interest Rates 2024 announced for Saving Accounts, Single Deposits, Tearm Deposits, and Special Fixed Deposit Schemes. SIB Bank FD Rates are effective from 1st March 2024 up to a 7.4% interest rate on their savings accounts.
South Indian Bank, a leading private sector bank with 95 years of experience, has announced an increase in savings account interest rates effective March 1, 2024. Currently, no bank offers the maximum interest rate on savings accounts. The maximum interest rate that South Indian Bank is offering on savings accounts is 6%. Additionally, the bank is offering 7.4% interest on special fixed deposits with a tenure of 400 days.
The revised interest rates for savings accounts are as follows:
- A balance of up to Rs 2 lakh will receive a 2.5% interest rate.
- A savings account balance from Rs 2 lakh to Rs 5 crore will receive a 2.75% interest rate.
- If maintained, a savings account balance from Rs 5 crore to Rs 25 crore will earn a 4.5% interest rate.
- A savings account balance of Rs 25 crore or above will receive a 6% interest rate.
The latest fixed deposit (FD) interest rates offered by the bank are:
| Period | Single Deposits of less than Rs.2 crore | |
|---|---|---|
| General | Senior Citizens* | |
| 7 days to 30 days | 2.90% | 3.40% |
| 31 days to 90 days | 3.50% | 4.00% |
| 91 days to 99 days | 4.50% | 5.00% |
| 100 days | 6.00% | 6.50% |
| 101 days to 180 days | 4.50% | 5.00% |
| 181 days to less than 1 year | 5.00% | 5.50% |
| 1 year | 6.70% | 7.20% |
| 1 year 1 day | 7.00% | 7.50% |
| 1 year 2 days to 399 days | 6.50% | 7.00% |
| 400 days | 7.40% | 7.90% |
| 401 days to less than 30 months | 6.50% | 7.00% |
| 30 months | 7.00% | 7.50% |
| Above 30 months to less than 5 years | 6.70% | 7.20% |
| 5 years to less than 66 months | 6.00% | 6.50% |
| 66 months (Green deposit) | 6.50% | 7.00% |
| Above 66 months to upto and including 10 years | 6.00% | 6.50% |
| Tax Gain ( 5 Years ) | 6.00% | 6.50% |
You are advised to visit the bank’s nearby branch channel or its official website (southindianbank.com) to get additional and updated details on the revised interest rates based on the deposited funds and the team period.
