FD interest rates have been increased through State Bank of India. Explain that State Bank of India offers attractive interest rates on fixed deposits for tenors ranging from 7 days to 10 years with many attractive features and benefits. At the same time, additional interest rates of up to 0.80% are also given to senior citizens.
SBI hikes FD interest rates
The interest rates for general public range from 2.90% p.a. to 5.40% p.a. FDs with their guaranteed returns feature are the most trusted way to save for customers of all ages. Attractive interest rates are provided by the bank on the deposits of the customers. Various types of fixed deposit plans are offered by State Bank of India to its customers. Through these different schemes, customers can get benefits in different ways. The description of all the fixed deposit schemes offered to the customers through SBI are as follows.
- SBI Term Deposit
- SBI Tax Saving Scheme
- SBI Fixed Deposit Reinvestment Plan
- SBI Annuity Deposit Scheme
- SBI Wecare
Term Wise State Bank Of India FD Interest Rates
- SBI Short Term Deposit: Through this, accounts are opened with a tenor of 7 days to 1 year. In which interest is given to the customers at the rate of 2.90% to 4.40% per annum.
- SBI Medium Term Deposit: This fixed deposit ranges from 1 year to 5 years. In this, interest is given to the customers in the range of 5% to 5.30%.
- SBI Long Term Deposit: The tenure of this plan varies from 5 years to 10 years. In this, interest is given to the customers at the rate of 5.40%.
- Senior Citizen Fixed Deposit: In this plan an additional interest of 0.80% per annum is given to senior citizens for making fixed deposits. Interest is paid at the rate of 3.40% to 6% p.a. on fixed deposits for senior citizens.
