SBI FD interest rate: State Bank of India has decided to increase the interest rate on fixed deposits from August 13. Now the maximum interest rate on FD has increased to 6.45 percent. Senior citizens will get an additional benefit of 50 basis points in interest.
SBI FD interest rate: SBI, the country’s largest public sector bank, has given a gift to its customers. The bank has decided to increase the interest rate on retail fixed deposits (SBI Fixed Deposits) up to Rs 2 crore. The new rate of interest has come into effect from August 13. Now the minimum interest rate has become 2.90 percent and the maximum interest rate is 6.45 percent. According to the information available on the bank’s website, the interest rate has been increased by 15 basis points. Senior citizens will also get the decision to increase the interest rate.
The Monetary Policy Committee meeting of the Reserve Bank was held this month. In this meeting, it was decided to increase the repo rate by 50 basis points. Now the repo rate has increased to 5.40 percent. After the increase in the repo rate, including SBI, Axis Bank, Bandhan Bank, Canara Bank, Indian Overseas Bank, Central Banks have also increased the interest rate.
How much interest rate for how long?
The interest rate on FDs of 7-45 days has been retained at 2.90 per cent. The interest rate on FDs of 46-179 days has been retained at 3.90 per cent. The interest rate on FDs of 180-210 days has been increased by 15 basis points to 4.55 per cent. The interest rate on FDs ranging from 1 year to less than 2 years has been increased to 5.45 percent. The interest rate on FDs ranging from 2 years to less than 3 years has been increased to 5.50 percent. The interest rate on FDs ranging from 3 years to less than 5 years has increased to 5.60 percent and for FDs from 5 years to 10 years, the interest rate has increased to 5.65 percent.
| Tenors | Existing Rates for Public w.e.f. 14.06.2022 | Revised Rates For Public w.e.f. 13.08.2022 | Existing Rates for Senior Citizens w.e.f. 14.06.2022 | Revised Rates for Senior Citizens w.e.f. 13.08.2022 |
|---|---|---|---|---|
| 7 days to 45 days | 2.90 | 2.90 | 3.40 | 3.40 |
| 46 days to 179 days | 3.90 | 3.90 | 4.40 | 4.40 |
| 180 days to 210 days | 4.40 | 4.55 | 4.90 | 5.05 |
| 211 days to less than 1 year | 4.60 | 4.60 | 5.10 | 5.10 |
| 1 year to less than 2 year | 5.30 | 5.45 | 5.80 | 5.95 |
| 2 years to less than 3 years | 5.35 | 5.50 | 5.85 | 6.00 |
| 3 years to less than 5 years | 5.45 | 5.60 | 5.95 | 6.10 |
| 5 years and up to 10 years | 5.50 | 5.65 | 6.30 | 6.45 |
How much interest rate will senior citizens get
Senior citizens will get the benefit of 50 basis points addition in the interest rate. The interest rate on FDs of 7-45 days and 46 to 179 days has been retained at 3.40 per cent and 4.40 per cent. Interest rate increased to 5.05 per cent on FDs of 180-210 days, FDs of 1 year to less than 2 years, interest rate increased to 5.95 per cent, FDs of 2 years to less than 3 years, interest rate increased to 6 per cent, from 3 years to The interest rate on FDs of less than 5 years has been kept at 6.10 percent and on FDs of 5 years to 10 years, the interest rate has been kept at 6.45 percent.
