Recurring Deposit Rates: The country’s largest public sector bank SBI has increased the interest on RD (Recurring Deposit). These new rates have come into effect from February 15.
You can open an RD with a minimum investment of Rs 100 in SBI. In RD, the account is opened for 12 months to 10 years. Now SBI has increased the interest on some RDs. RBI had recently increased the repo rate to control inflation.∃
Recurring Deposit (RD) of SBI
SBI RD interest rates for general public vary between 6.5%-7%. In this, senior citizens get an additional interest of 50 basis points ie 0.50. 6.8% interest will be available for RD of one year to 2 years. Interest has been increased by 0.25 percent on RD from two years to less than three years. Now it will get 7% interest which was earlier 6.75%. 6.5% interest is being received for RD of three years to less than five years. The interest rate for FDs of five years to 10 years is 6.5%.
SBI RD rates are applicable from 15 February 2023
1 year to less than 2 years – 6.80%
2 years to less than 3 years – 7%
3 years to less than 5 years – 6.5%
5 years and up to 10 years – 6.5%
SBI increased interest on FD
SBI has increased up to 0.25 percent on FD. This increase has been done by the bank on FDs of less than Rs 2 crore. At the same time, SBI has increased the rates on bulk FDs by 25 to 75 basis points. The bank has also launched a special FD of 400 days, in which customers will get a maximum interest of 7.10 per cent.
Latest FD rate of SBI Bank – This interest is available on FDs of less than Rs 2 crore.
7 days to 45 days: For general public – 3.00 per cent; For Senior Citizen – 3.50 percent
46 days to 179 days: For general public – 4.50 per cent; For Senior Citizen – 5.00 percent
180 days to 210 days: For general public – 5.25 per cent; For senior citizens – 5.75 percent
211 days to less than 1 year: For general public – 5.75 per cent; For Senior Citizen – 6.25 percent
1 year to less than 2 years: For general public – 6.80 per cent; For Senior Citizen – 7.30 percent
2 years to less than 3 years: For general public – 7 per cent; For Senior Citizen – 7.50 percent
3 years to less than 5 years: For general public – 6.50 per cent; For senior citizens – 7 percent
5 years to 10 years: For general public – 6.50 per cent; For Senior Citizen – 7.50 percent
