SBI FD Rates: State Bank of India (SBI) has given good news to crores of its customers by increasing the interest rate of fixed deposits. The increased interest rates on FDs by the bank are effective from October 15, 2022.
SBI Fixed Deposit: In the festive season, State Bank of India (SBI) has once again given good news to its crores of customers. If your account is also in SBI, then this news is of your use. The interest rate on Fixed Deposit (FD Interest Rates) has been increased once again by the bank. According to the updated information on the official website of the bank, SBI has increased the interest rates of its FDs by up to 20 basis points for all tenors. The new interest rates will be applicable on fixed deposits of less than Rs 2 crore.
New rates effective from October 15
According to the bank’s website, the increased interest rates on FDs are effective from October 15, 2022. The bank has increased the interest rates on retail FDs after a gap of two months. According to the SBI website, the hike in FD interest rates ranges from 10 basis points (bps) to 20 bps.
Know how much return you will get on SBI FD?
- According to the information given by SBI, FDs maturing between 7 days to 45 days will now get 3 percent interest rate.
- FD maturing between 46 days to 179 days will now get an interest rate of 4 percent.
Between 180 days to 210 days, the interest rate on retail FD will be 4.65 percent. - Interest rate of 4.70 percent will be available on deposits from 211 days to less than one year.
- SBI FDs with maturity period of 1 year to less than 2 years will get 5.60 percent interest rate.
- FD of 2 years to less than 3 years will get 5.65 percent interest rate.
- Deposits maturing from 3 years to less than 5 years will get 5.80 percent interest rate.
Now the interest rate will be 5.85 percent on FD from 5 years to 10 years.
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