12 Nov 2026
- 365 days to 366 days · Up to ₹1 crore · General7.50% → 7.10% 0.40 pp
- 365 days to 366 days · Above ₹1 crore to below ₹3 crore (callable) · General7.50% → 7.10% 0.40 pp
- 365 days to 366 days · Senior8.00% → 7.60% 0.40 pp
Rates verified from official source
SBM Bank (India) Ltd. interest rates · November 2026
SBM Bank India FD rates
All tenures, calculator and comparison →What will my FD earn at SBM Bank India?
Estimated value after 1 year · before tax
₹5,36,456
7.10% p.a. · ₹36,456 interest · quarterly compounding
Plan your recurring deposit at SBM Bank India
—
Before opening an RD
Estimates assume on-time monthly installments and quarterly compounding. Confirm the term, minimum installment, late payment rules, and early closure terms with the bank.
Overview
SBM Bank (India) Ltd. (SBM Bank India) is a foreign bank operating in India, headquartered in Mumbai. Its headline 1-year FD rate of 7.10% is 1.55% above the foreign bank average of 5.55%, ranking #276 of 1033 banks on RateScan.in.
Headquarters
Mumbai
Monitored since
27 Oct 2026
Ownership
Indian wholly owned subsidiary of SBM Holdings Ltd, Mauritius
Operates in
Maharashtra
Rates as of 1 May 2026, verified from official source. Scheduled foreign bank (RBI-licensed, operating in India): Indian operations' deposits insured by DICGC up to ₹5,00,000.
RBI record
Every RBI press release since 1 Jan 2024 that names SBM Bank (India) Ltd., newest first, each linked to RBI. Checked every week; last on 11 Nov 2026.
A monetary penalty is a fine for not following an RBI rule. On its own it does not stop the bank taking or repaying deposits; RBI does that through directions, which are listed here when they apply.
-
RBI fined the bank ₹88.70 lakh
RBI's reason: “for non-compliance with licensing conditions imposed by the RBI, and specific RBI directions to stop undertaking Liberalised Remittance Scheme (LRS) transactions with immediate effect”
What RBI found
“The bank (i) engaged Business Correspondents for establishing account-based relationship with customers from certain regions, despite its request being not acceded to by RBI, and (ii) processed certain transactions under Liberalised Remittance Scheme, despite RBI directions to stop such transactions with immediate effect.”
RBI says: “The action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transactions or agreement entered into by the bank with its customers.”
This record covers RBI press releases only. Other actions, such as those of a state's Registrar of Co-operative Societies, are not included.
Branches
1 branch
Most branches: Mumbai 1
From RBI's IFSC directory (updated 1 Nov 2026). Counts can include recently merged or closed branches; check the bank's branch locator before visiting.
SBM Bank India rates
Every rate, tenure by tenure, and what your money grows to.
Fixed Deposit7.65%Senior citizens 8.15% · 548 days to 732 daysSee rates →Recurring Deposit7.65%19 months to 24 monthsSee rates →Savings Account7.00%See rates →NRE Fixed Deposit7.65%548 days to 732 daysSee rates →FCNR(B) Deposit4.55%2 years to less than 3 years · GBPSee rates →
Compare SBM Bank India FD rates with banks near you →
SBM Bank India Fixed Deposit rate changes
Changes to SBM Bank India's fixed deposit (FD) rates that RateScan.in has recorded since it started tracking them on 27 Oct 2026. Each date is when RateScan.in first recorded the new rate; the bank's own effective date is in the rate table above.
7 Nov 2026
- 365 days to 366 days · Up to ₹1 crore · General7.10% → 7.50% 0.40 pp
- 365 days to 366 days · Above ₹1 crore to below ₹3 crore (callable) · General7.10% → 7.50% 0.40 pp
- 365 days to 366 days · Senior7.60% → 8.00% 0.40 pp
6 Nov 2026
- 548 days to 732 days · Up to ₹1 crore · General7.30% → 7.65% 0.35 pp
- 548 days to 732 days · Above ₹1 crore to below ₹3 crore (callable) · General7.30% → 7.65% 0.35 pp
- 548 days to 732 days · Senior7.80% → 8.15% 0.35 pp
Good to know
- Deposits with SBM Bank (India) Ltd. are insured by DICGC up to ₹5,00,000 per depositor per bank (principal and interest combined, across all its branches). Anything above that is not insured.
- SBM Bank India is a foreign bank operating in India, regulated by the RBI.
- Senior citizens (60+) earn up to 0.50% p.a. more than general customers at SBM Bank India, depending on the tenure.
Informational only. Always confirm the current rate on the official SBM Bank India website before investing. Bank names and associated colors are used for identification purposes only. All bank names, logos, and trademarks are the property of their respective owners. RateScan.in is not affiliated with, endorsed by, or sponsored by any bank.
Have feedback?
Tell us what would make RateScan.in more useful. No email required.