FD Interest Rate: Earlier this week, SBI had increased FD rates by up to 65 basis points on select tenors, which were effective from 13 December. The maximum interest rate for senior citizens is 7.25 percent.
SBI Bank Account: India’s largest public sector bank State Bank of India (SBI) has revised its interest rates on domestic retail FDs. Along with this, the bank has increased the interest rates on FD. However, this time SBI has increased the interest rate on FD for senior citizens. The bank has increased the FD rates from 5 years to 10 years by up to 7.25 per cent. All these rates have been revised for fixed deposits of less than Rs 2 crore.
Increased interest rate
Earlier this week, SBI had increased FD rates by up to 65 basis points on select tenors, which were effective from 13 December. The maximum interest rate for senior citizens is 7.25 per cent, which is available for tenors ranging from 1 year to 2 years, 2 years to 3 years and 5 years to 10 years.
After the latest revision of FD Rates for general customers,
SBI is offering 3 percent interest on schemes from 7 days to 45 days. Investors will get 3.9 percent on FDs between 46 days to 179 days, 5.25 percent for schemes less than 180 days to 210 days. At the same time, the bank’s interest rate for schemes of 211 days to 1 year is 5.75 percent.
So much offer
The bank is offering 6.75 percent for schemes ranging from 1 year to 2 years. SBI is offering 6.75 percent interest rate from 2 years to 3 years. There, 6.25 percent interest rate is being offered for schemes from 3 years to 5 years and from 5 years to 10 years.
Investors attracted
Let us tell you that since May this year, most banks have aggressively changed their FD rates in line with the policy results of the Reserve Bank of India, which has attracted more investors to adopt this investment option. Since May, RBI has changed its repo rate five times and increased it from 4.40 per cent to 6.25 per cent.
