SBI FD rate hike: State Bank of India has increased its interest rates on FDs of various tenures up to Rs 2 crore. The new FD rates have come into effect from today, May 15. SBI has increased the interest rates on FDs with tenure from 46 days to 179 days, 180 days to 210 days and 211 days to less than 1 year by 0.25 to 0.75 percent. SBI last increased interest rates on FD on December 27, 2023.
Interest rate on SBI FD
SBI offers FDs of different tenures. The bank is giving 3.50 percent interest on FD of 7 days to 45 days. It is giving 5.50 percent interest on FD of 46 days to 179 days. It is offering 6 percent interest rate on FD of 180 days to 210 days. The interest rate on FDs with tenure ranging from 211 days to less than 1 year is 6.25 percent. The interest rate on FDs with tenure ranging from one year to less than 2 years is 6.80 percent. The highest interest rate on FD of 2 years to less than 3 years is 7 percent. The bank is offering 6.75 percent interest rate on FDs with tenure ranging from 3 years to less than 5 years. At the same time, the interest rate on FD with tenure ranging from 5 years to 10 years is 6.50 percent.
Senior citizens get more interest
The country’s largest government bank SBI gives 0.50 percent additional interest on FD to senior citizens. SBI’s interest rate on senior citizen FD is 4 to 7.5 percent. The highest interest rate being offered on FDs with tenure between 2 years to less than 3 years is 7.50 percent. At the same time, SBI is also giving 7.5 percent interest rate to senior citizens on FDs with tenure ranging from 5 years to 10 years.
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