Urban Money
Eligibility calculator

Eligibility calculator

Best Domestic Bulk Term Deposits Scheme in India

For the general public and senior citizens, the interest rate for Domestic Bulk Term Deposits is 2.90 % to 5.50 % and 3.15 % to 5.75 % respectively. The minimum deposit permissible under this plan is less then 2 crore

Interest Rates on Domestic Bulk Term Deposits FD

Given below are the latest interest rates offered by top banks under this FD category.

Domestic Bulk Term Deposits

As defined by the RBI (Reserve Bank of India), Domestic Bulk Term Deposits is a type of deposits made above ₹ 2 crores.

According to the circular issued by the RBI, Bulk Deposit means –

  • Single Rupee term deposits of Rupees two crore and above for Scheduled Commercial Banks (excluding Regional Rural Banks) and Small Finance Banks.
  • Single Rupee term deposits of Rupees fifteen lakhs and above for RRBs.

Eligibility Criteria For Domestic Bulk Term Deposits

To make domestic bulk term deposits, the applicant must have at least ₹ 2 crores in their savings or current account.

Benefits of FD for Domestic Bulk Term Deposits

Customers with domestic bulk term deposits receive higher interest rates compared to regular term deposits. With higher interest rates, people are more likely to earn a higher return on their investments. Moreover, the money is completely safe and has low-risk factors.

Interest Rates on Domestic Bulk Term Deposits

Different banks offer different interest rates on domestic bulk term deposits. Below are the revised interest rates on 'Domestic Bulk Term Deposits (₹ 2 Crore and above) in SBI:

Tenors Revised Rates For Public w.e.f 13.08.2022 Revised Rates for Senior Citizen w.e.f. 13.08.2022
7 days to 45 days 3.5 4
46 days to 179 days 4.25 4.75
180 days to 210 days 4.5 5
211 days to less than one year 5 5.5
1 year to less than three years 6 6.5
2 years to less than three years 5.25 5.75
3 years to less than five years 5.25 5.75
5 years and up to 10 years 5 5.5

Note: Interest rates are subject to change.

Frequently Asked Questions (FAQs)

What is a bulk term deposit?

As specified in the RBI circular, bulk term deposit means “Rupee Term Deposits of ₹ 2 crore and above.”

What is a domestic term deposit in SBI?

A domestic term deposit in SBI offers interest rates of 2.90% to 5.65% per annum to the regular individual and 3.40% to 6.45% per annum to senior citizens.