Related Posts
7/6 - State Bank Of India (NY): Various Terms Up To 3.29% For Seniors; 3.19% Others
6/18 - State Bank Of India 5 Yr. CD 2.42% APY
11/30/12 - Competitive CD Rates at State Bank of India - Chicago Branch
6/13/12 - Top 5-Year CD Rate at State Bank of India New York
2/9/12 - Top CD Rates at State Bank of India - NYC & Chicago Branches
7/26/09 - 4.68% 12-Month CD & 4.32% 6-Month CD at State Bank of India, New York
10/16/08 - 4.58% 12-Month CD Nationally Available at State Bank of India - New York
9/17/08 - 4.58% 12-Month / 5.09% 36-Month CD Nationally Available at State Bank of India - New York
8/29/08 - 4.42% 12-Month / 5.30% 60-Month CD Nationally Available at State Bank of India - New York
7/11/08 - 5.09% 1-year CD at State Bank of India
7/11/08 - 5.35% 60-Month / 4.06% 12-Month CD Nationally Available at State Bank of India - New York
4/11/08 - 4.06% 12-Month / 4.32% 36-Month CD Nationally Available at State Bank of India - New York
9/12/07 - 5.67% 12-Month / 5.56% 36-Month CD at Statebank of India - New York ($95K+)
7/15/07 - 5.61% 12-Month and 36-Month CDs at Statebank of India - New York ($95K+)
5/30/07 - 5.51% 12-Month CD at Statebank of India - New York ($95K+)
3/2/06 - High CD Rates at State Bank of India
1/6/06 - 4.89% 6-month CD - Another Look at SBI
Be Careful
When my 5-year CD recently matured, the bank sent me a check for the accumulated balance in the account as I had requested. One problem - they didn't bother to sign the check! After a couple of phone calls and emails, they agreed to send a replacement check and additional per-diem interest (which I demanded) at the rate I could get by reinvesting in a 5-year CD elsewhere at that time.
Other annoyances include: no on-line account opening; no on-line access to check account balances and interest posting; and very poor understanding (on their part) of their own deposit account documents.
In the end, it worked out for me, but I doubt I will ever deposit funds with them again.
Difficult Application - Waste Of Time
This bank has the most difficult application procedure of any bank I applied to, and I'm a member of over twenty banks. I simply wanted to purchase a CD. They required that my identifying documents be notarized and mailed! And after I spent literally hours fulfilling their requirements, they raised questions about my credit worthiness, even though I have an excellent credit score. It's as if they don't want customers. I finally decided not to do business with this 'unusual' organization.
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.
State Bank of India Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.27%*† | $2m* | - | Money Market Account | ||
| OTHER TIERS: 0.41% → Up to $25k | 0.61% → $25k - $250k | 1.02% → $250k - $2m | |||||
State Bank of India CD Rates
| State Bank of India Locations | ||
|---|---|---|
| State Bank Of India | 460 Park Avenue | New York, NY 10022 |