Mumbai: Largest public sector bank in the country, State Bank of India (SBI) has hiked its fixed deposit interest again. The rates were earlier hiked on October15. This is the second time this week that the rates are hiked.
The State Bank of India has now hiked its term deposit rates by up to 0.8%. On October 15, the lender hiked the rates by 0.20%.
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Now, fixed deposits of under Rs 2 crore for a tenure of over 211 days but less than 1 year will earn an interest of 5.50%. Fixed deposits for the tenure of 46 days to 179 days will earn an interest of 4.5% and those in 180 days to 210 days will earn an interest of 5.25%. The deposits maturing between 1 year to 2 years will earn an interest of 6.1% per annum.
Fixed deposits with a maturity period of 2 to 3 years will earn an interest of 6.25% and those between 3 to 10 years will earn an interest of 6.1%.The senior citizens will earn an additional interest of 0.5%.
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