SBI FD Rates: State Bank of India (SBI) has announced an increase in interest rates on Fixed Deposits (FD). According to SBI’s website, SBI has changed the rates on deposits of less than Rs 2 crore.
The Reserve Bank did not make any change in the repo rate for the second consecutive time on Thursday. However, before this RBI had increased the repo rate for 4 consecutive times. Due to the increase in the repo rate by the RBI, where the loan interest rates increase on the one hand, on the other hand the interest on fixed deposits increases.
Due to no change in repo rate, people are still getting good interest on FD. If RBI cuts the repo rate in future, then the interest on FD can also reduce.
The country’s largest public sector bank- SBI is paying the highest interest of 7.10 percent on FDs with an amount of less than Rs 2 crore. The name of this FD scheme is Amrit Kalash, whose tenure is 400 days.
Apart from this, 7.00 percent interest is being given on FDs ranging from 2 years to 3 years, 6.80 percent on FDs ranging from 1 year to 2 years, 6.50 percent on FDs ranging from 3 years to 10 years.
