SBI has increased the interest rate on fixed deposits (FD) by 0.15 to 0.20 percent. According to SBI, FDs less than Rs 2 crore and maturing in 211 days to 3 years will get more interest.
SBI PNB and IDBI FD New Interest Rate: The three largest banks of the country have announced an increase in the interest on Fixed Deposit (FD). Meaning, if you have made a fixed deposit in the bank for a fixed period of time, then a higher rate of interest will be offered. The new interest rates of SBI and PNB will be applicable from June 14, 2022 across the country. Whereas the new interest rate of IDBI will be applicable from 15th June 2022 i.e. today.
SBI changed interest rates
SBI has increased the interest rate on fixed deposits (FD) by 0.15 to 0.20 percent. According to SBI, FDs less than Rs 2 crore and maturing in 211 days to 3 years will get more interest. Meaning the interest rate on FDs ranging from 7 days to 210 days will remain the same as before. Whereas the interest rate on FDs ranging from 211 days to less than 2 years has been increased by 0.20 percent. The interest rate on FDs ranging from 2 years to less than three years has been increased by 0.15 percent. Also, there is no change in the interest rate of FDs ranging from 3 years to 10 years.
SBI FD new interest rates
- 2.90 percent from 7 days to 45 days
- 3.90 percent from 46 days to 179 days
- 4.40 percent from 180 days to 210 days
- More than 211 days but less than 1 year 4.60 percent
- More than 1 year but less than 2 years 5.30 percent
- Above 2 years but less than 3 years 5.35 percent
- Above 3 years but less than 5 years 5.45 per cent
- Above 5 years and up to 10 years 5.50 per cent
SBI FD Rates for Senior Citizens
- 3.40% from 7 days to 45 days
- 4.40 percent from 46 days to 179 days
- 4.90 percent from 180 days to 210 days
- More than 211 days but less than 1 year 5.10 percent
- More than 1 year but less than 2 years 5.80 percent
- Above 2 years but less than 3 years 5.85 percent
- Above 3 years but less than 5 years 5.95 per cent
- Above 5 years and up to 10 years 6.30 percent
- Punjab National Bank (PNB) has increased fixed deposit (FD) interest rates by 25 basis points.
PNB new FD interest rate
- 7 to 45 days – 3 percent
- 46 to 90 days -3.25 percent
- 91 to 179 days – 4 percent
- 180 days to less than 1 year – 4.5 percent
- Between 1 year to 2 years – 5.2%
- Above 2 years and up to 3 years – 5.30 percent
- Above 3 years and less than 5 years – 5.50 percent
- Above 5 years and below 10 years – 5.60 percent
IDBI has increased the interest rate on term deposits of less than Rs 2 crore by 25 basis points. The enhanced interest rates of IDBI will be applicable from June 15, 2022. This interest rate will be applicable on Domestic Term Deposits, Non Resident Ordinary (NRO) and Non Resident Ordinary (NRE) Term Deposits.
IDBI’s new FD interest rates
- 91 days to 6 months – 4 percent
- 3 years to 5 years – 5.60 percent
- Up to 5 years – 5.75 percent
- 5 years to 7 years – 5.75 percent
- 7 years to 10 years – 5.75 percent
- Tax saving FD (5 years) – 5.75 percent
Less than Rs 2 crore for senior citizens
- 91 days to 6 months – 4.50 percent
- 3 years to 5 years – 6.35 percent
- Up to 5 years – 6.50 percent
- 5 years to 7 years – 6.50 percent
- 7 years to 10 years – 650%
- Tax saving (5 years) – 6.50 percent
