SBI New FD Rates : State Bank of India (SBI) has cut the interest rates of fixed deposits (FD) by 0.20%. Now, on a 1-year FD in SBI, you will get 6.70% interest. The new interest rates will be applicable from April 15.
Earlier, recently, Canara Bank and Kotak Mahindra Bank have also cut interest rates on FD. After the RBI’s repo rate cut, now banks are also cutting FD interest rates.
Change in interest rates of ‘Amrit Vrishti‘ special deposit scheme SBI has also changed the interest rates of a special deposit scheme called ‘Amrit Vrishti’. Under this scheme, general citizens will be given 7.05% annual interest on FD for 444 days. Senior citizens will be given interest at the rate of 7.55% per annum and super senior citizens will be given interest at the rate of 7.65%.
Opportunity to invest in SBI ‘WeCare‘ scheme too SBI is also running another special term deposit (FD) scheme ‘WeCare’. Under this scheme of SBI, senior citizens will get extra interest of 50 basis points on deposits (FD) of 5 years or more. Senior citizens get 0.50% more interest than the general public on retail term deposits of less than 5 years.
In such a situation, under the ‘WeCare Deposit‘ scheme, 1% more interest will be given on FD of 5 years or more as compared to general citizens. According to this, senior citizens are getting 7.50% interest on FD for 5 years or more.
How much interest will you get in SBI now?
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