The country’s largest private sector lender State Bank of India (SBI) has increased the interest rates on FDs of less than Rs 2 crore. The bank has increased the interest rates for all tenures except 1 year to less than 2 years, 2 years to less than 3 years and 5 years to 10 years. According to information received from the official website of the bank, the increased new interest rates will be applicable from December 27, 2023.
SBI increased FD rates
After this increase in interest rates, SBI has increased the interest rates on FDs of 7 days to 45 days by 50 basis points to 3.50 percent, on FDs of 46 days to 179 days by 25 basis points to 4.75 percent, on FDs of 180 days to 210 days it has increased the interest rates on FDs by 50 basis points to 3.50 percent. Interest rates on FDs have increased by 50 basis points to 5.75%, interest rates on FDs of tenure between 211 days to less than 1 year have increased by 25 basis points to 6% and interest rates on FDs of tenure between 3 years to 5 years have increased by 25 basis points to 6.75%. Is done.
| General Public | Senior Citizen | |||
|---|---|---|---|---|
| Tenors | Existing Rates for Public w.e.f. 15/02/2023 | Revised Rates for Public w.e.f. 27/12/2023 | Existing Rates for Senior Citizen w.e.f. 15/02/2023 | Revised Rates for Senior Citizen w.e.f. 27/12/2023 |
| 7 days to 45 days | 3.00 | 3.50 | 3.50 | 4.00 |
| 46 days to 179 days | 4.50 | 4.75 | 5.00 | 5.25 |
| 180 days to 210 days | 5.25 | 5.75 | 5.75 | 6.25 |
| 211 days to less than 1 year | 5.75 | 6.00 | 6.25 | 6.50 |
| 1 Year to less than 2 years | 6.80 | 6.80 | 7.30 | 7.30 |
| 2 years to less than 3 years | 7.00 | 7.00 | 7.50 | 7.50 |
| 3 years to less than 5 years | 6.50 | 6.75 | 7.00 | 7.25 |
| 5 years and up to 10 years | 6.50 | 6.50 | 7.50 | 7.50* |
Now customers will get this much interest on FD
That is, after this increase in interest rates, customers will get 3.50% on FD of 7 days to 45 days, 4.75% on FD of 46 days to 179 days, 5.75% on FD of 180 days to 210 days, 211 days to 1 year. 6% on FDs of less than 1 year, 6.80% on FDs of 1 year to 2 years, 7% on FDs of 2 years to less than 3 years, 6.75% on FDs of 3 years to less than 5 years and 6.50% interest will be available on FD from 5 years to 10 years.
Senior citizens will get additional 50 basis points interest
On the other hand, State Bank of India will offer 50 basis points more interest rate to its senior citizen customers after the increase in interest rates. This means that now SBI will give 4% to 7.50% interest to its senior citizen customers for FD of 7 days to 10 years. Let us tell you that earlier SBI had changed its FD rates in the month of February.
