SBI FD Rate Increase: The country’s largest bank, SBI (SBI), will now receive higher returns on its FDs (Fixed Deposit). The bank has announced a higher FD interest rate, but this increase does not apply to all tenures. According to SBI’s website, FDs less than Rs 2 crore maturing in 211 days to three years will now earn 0.15-0.20 percent more interest. The new rates went into effect today, June 14, and will remain in effect until further notice.
There will be no increase in FD rates for all tenures.
The bank has made no changes to the interest rates on FDs ranging from seven to 210 days. Above this, the interest rate on FDs ranging from 211 days to less than 2 years has increased by 0.20 percent, while the interest rate on FDs ranging from two years to less than three years has increased by 0.15 percent. The interest rate on FDs ranging from three to ten years remains unchanged. The full details of the new rates are provided below.
SBI FD Rates
|tenures||effective rates||effective rate for senior citizens|
|7 – 45 Days||2.90||3.40|
|46 – 179 Days||3.90||4.40|
|180 – 210 Days||4.40||4.90|
|211 Days but less than 1 Year||4.60||5.10|
|More than 1 year but less than 2 years||5.30||5.80|
|More than 2 years but less than 3 years||5.35||5.85|
|More than 3 years but less than 5 years||5.45||5.95|
|Above 5 years and up to 10 years||5.50||6.30|