SBI FD Interest Hike: The country’s largest bank State Bank of India (SBI) has increased the interest on fixed deposits by 80 basis points while giving Diwali gifts to its customers. These new rates, which are applicable from October 22, have been done for all tenures. The new interest rates will be applicable on FDs below Rs 2 crore. The bank has issued a notification regarding this on its website. Senior citizens will benefit the most from these increased rates.
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Here are the new rates
- SBI is offering interest at the rate of 6.10% on FDs made for tenures ranging from 5 to 10 years.
- Interest will be available at the rate of 6.10% on FDs of 3 to 5 years.Â
- FDs for 2 to 3 years will get 6.25 percent interest instead of 5.65%.
- FDs of 1 to 2 years will now get 6.10% interest instead of 5.60 percent.
- FD interest from 211 days to 1 year has been increased from 4.70 percent to 5.50%.
- On FD of 180 to 210 days, interest will be available at the rate of 5.25 percent instead of 4.65%.Â
- FDs of 46 to 179 days are now getting interest at the rate of 4.50%.Â
- Interest is getting at the rate of 3 percent on FDs of 7 to 45 days. No changes have been made in this.
New FD rates for senior citizens
- Interest is being given at the rate of 6.90% on FDs from 5 to 10 years.Â
- Interest is being available at the rate of 6.60 percent on FDs of 3 to 5 years.Â
- 6.75% interest is being given on FD of 2 to 3 years instead of 6.15%.Â
- The rate of interest on 1 to 2 year FD has been increased from 6.10% to 6.60%.
- Interest is getting at the rate of 6 percent on FDs from 211 days to 1 year.Â
- The interest available on FDs of 46 to 179 days has increased from 4.5% to 5%.
- On FDs of 7 to 45 days, 3.50% interest is being given as before. no changes have been made to
SBI gives an additional FD interest of 1 percent to its employees and pensioners. SBI pensioners are getting 7.65% interest on FD of 5 to 10 years.
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