Mumbai: Largest public sector bank in the country, State Bank of India (SBI) has increased interest rates on fixed deposits (FDs). The rates are hiked by up to 50 basis points (bps). The FD interest rates have been revised for deposits below Rs 2 crore.
Interest rates on ’46 days to 179 days’, ‘211 days to less than 1 year’, and ‘3 years to less than 5 years’ tenures have been raised by 25 basis points. The FD rates on ‘7 days to 45 days’ and ‘180 days to 210 days’ tenures have been increased by 50 basis points. SBI has hiked rates by 50 basis points (bps) on fixed deposits maturing in seven to 45 days.
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However, FD rates on ‘1 year to less than 2 years’, ‘2 years to less than 3 years’, and ‘5 years and up to 10 years’ tenures have been kept unchanged.
State Bank of India’s Revised FD Interest Rate (On Deposits Below Rs 2 Crore):
7 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
46 days to 179 days: For General Public – 4.75 per cent; For Senior Citizens – 5.25 per cent
180 days to 210 days: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent
211 days to less than 1 year: For General Public – 6.00 per cent; For Senior Citizens – 6.50 per cent
1 year to less than 2 years: For General Public – 6.80 per cent; For Senior Citizens – 7.30 per cent
2 years to less than 3 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
3 years to less than 5 years: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent
5 years to up to 10 years: For General Public – 6.50 per cent; For Senior Citizens – 7.50 per cent.
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