State Bank of India (SBI) is advertising certificates of deposit that have tiered interest rates. The certificates of deposit come in terms ranging from 3 months to 5 years or more. Their CD rates are some of the best CD rates around these days.

State Bank of India, which is the largest bank in India, has operations in the United States. There is a $5,000 minimum deposit for U.S. resident consumers and corporate customers. The minimum deposit for non-US resident consumers and corporate customers is $10,000.

Current SBI Certificate of Deposit APY

• 3 month CD 0.75% APY
• 6 month CD 1.31% APY
• 12 month CD 1.56% APY
• 24 month CD 2.07% APY
• 36 month CD 2.47% APY
• 60 month CD 3.19% APY

As with all certificates of deposit there are early withdrawal penalties. SBI charges the following for an early withdrawal.

Early Withdrawal Penalty

• CD term 1 month to less than 1 year - 30 days of interest
• CD term 1 year to less than 3 years - 90 days of interest
• CD  term 3 years to less than 5 years 180 days interest
• CD term 5 years & over – 270 days of interest

For more information and current CD rates visit statebank.com.