New Delhi : State Bank of India (SBI) keeps on making new announcements for its account holders, which also gets a huge response from the people. In the meantime, SBI has made another big announcement, which will benefit about crores of customers.
SBI announced a hike in fixed deposit rates for customers with deposits above Rs 2 crore. Fixed deposits have increased by up to 20-50 basis points.
After this change, the interest rate of FDs above Rs 2 crore with tenure ranging from 211 days to less than one year has increased by 20 basis points. Interest of 3.30 per cent will be available on such FD from March 10, 2022.
Let us tell you that earlier its rate used to be 3.10%. For such FD, senior citizens used to get 3.60 percent interest on this FD earlier, which has increased to 3.80 percent. At the same time, SBI has also increased the rates of fixed deposits.
Under this, the rate of FD from one year to 10 years has been increased by 50 basis points. Earlier, 3.10 percent interest was available on FD, now 3.60% will be available on it. Interest on FDs of senior citizens has been increased from 3.60 per cent to 4.10 per cent. The new rates will be applicable on both types of FDs.
According to SBI , the interest rate has been increased by 10 basis points to 5.20 per cent for FD tenors less than 2-3 years, by 15 basis points to 5.45 per cent for FD tenors from three years to less than five years. For FDs up to 5-10 years, the interest rate has been increased by 10 basis points to 5.50% from February 15 this year.
Senior citizens will get 0.50% more than the normal rate for all the tenors. Senior citizens will now get an interest rate of 3.5% to 4.10% on deposits maturing in seven days to 10 years after the change.
