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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.
Name of Bank | For General Citizen (p.a.) | For Senior Citizen (p.a.) |
|---|---|---|
| Axis Bank Domestic Bulk Term Deposits FD | 4.80% to 7.65 % | 5.30% to 8.15 % |
| Bandhan Bank Domestic Bulk Term Deposits FD | 3.00% to 8.35 % | -- |
| Central bank of india Domestic Bulk Term Deposits FD | 2.75% to 6.75 % | 5.00% to 7.25 % |
| Citi Bank Domestic Bulk Term Deposits FD | 2.00% to 2.95 % | -- |
| Federal bank Domestic Bulk Term Deposits FD | 3.40% to 6.40 % | -- |
| HDFC Bank Bulk Deposit FD | 3.50% to 6.10 % | 4.00% to 6.65 % |
| HSBC Bank Domestic Bulk Term Deposits FD | 2.85% to 7.25 % | 2.85% to 7.75 % |
| Indian Bank Domestic Bulk Term Deposits FD | 5.00% to 6.70 % | -- |
| IndusInd Bank Bulk Term Deposits FD | 4.90% to 7.35 % | 5.55% to 8.00 % |
| Kotak Mahindra Bank Domestic Bulk Term Deposits FD | 4.00% to 7.45 % | 4.00% to 7.25 % |
| State Bank of India Domestic Bulk Term Deposits FD | 4.75% to 6.75 % | 5.25% to 7.25 % |
| UCO Bank Domestic Bulk Term Deposits FD | 5.50% to 6.75 % | -- |
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.
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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.
