Good News For SBI Customers: SBI Hikes Interest Rates On FDs By Up To 10 Basis Points

SBI Customer Alert: Here comes a wonderful news for the SBI customers who have invested in Fixed Deposits in the bank. In a latest development, the ban on Saturday said it has increased the interest rates on fixed deposit (FD) by up to 10 basis points or 0.10 per cent.Also Read – SBI CBO Admit Card 2022 Released on sbi.co.in; Download Via Direct Link Given Here

Giving more details, the SBI said it has increased the interest rate on fixed deposits for tenure of 1 year to less than 2 years 5.1 per cent from 5.0 per cent. Also Read – SBI Recruitment 2022: Bank Releases Notification for Digital Banking Head Position | Details Here

However, for the senior citizens, the rate for deposits, for tenure 1 year to less than 2 years, is increased from 5.50 per cent to 5.60 per cent, the SBI website showed. The interest rates on FD of other tenure remained unchanged. Also Read – How Much Do SBI, PNB, HDFC Bank Charge For Doorstep Banking Services?

The SBI also stated that the interest rate is applicable on FDs below Rs 2 crore and the revised rate is effective from January 15, 2022.

Currently, SBI offers one of the highest interest rates of 5.40 per cent on FD for tenure from 5-10 years. For senior citizens, the SBI offers interest rate on FD of tenure from 5 years and up to 10 years comes at 6.20 per cent.

On the other hand, the interest rate for deposits maturing in a minimum of two years to less than three years stands 5.10 per cent. For deposits with a tenure of 3 years to less than 5 years, the interest rate is 5.30 per cent.