SBI FD Rate Increased: On February 8, the Reserve Bank of India announced an increase in the repo rate by 0.25 percent. After increasing the repo rate, apart from increasing the interest rate on loans, the interest rates on bank deposits have also started increasing.
Meanwhile, State Bank of India (SBI) has decided to increase its fixed deposit ie FD rates by 25 basis points or 0.25 per cent. SBI has increased the interest on FDs up to Rs 2 crore. According to information received from SBI’s website, the revised rates of SBI on FDs have become effective from February 15, 2023.
What are the new FD rates of SBI
– 7 days to 45 days – 3%
46 days to 179 days – 4.5%
180 days to 210 days – 5.25%
211 days to less than 1 year – 5.75%
1 year to less than 2 years – 6.80%
2 years to less than 3 years – 7.00%
3 years to less than 5 years – 6.50%
5 years and up to 10 years – 6.50%
Increase in repo rate for the sixth time in a row
Let us tell you that on February 8, RBI has once again increased the repo rate by 25 basis points. This is the increase in the repo rate for the sixth consecutive time. After the monetary policy meeting, RBI Governor Shaktikanta Das said that the pressure of rising inflation across the world is also on India and to overcome it completely, it has become necessary to increase the loan interest rates once again. However, this time the repo rate is being increased by only 0.25 percent.
