SBI hikes FD rates: State Bank of India (SBI) has increased fixed deposit or FD rates for select maturities. Revised SBI rates on retail FDs below Rs. 2 crore with effect from today, December 13. The proposed rates of interest will be applicable to fresh deposits and renewal of matured deposits. SBI had earlier revised the interest rates on fixed deposits on 22 October 2022. Accordingly, interest rates have been revised for Retail Domestic Fixed Deposits ‘less than two crore rupees’,” SBI mentioned on its site.
After the latest revision, SBI FDs between 7 days to 45 days will now fetch 3% interest. 3.9% on fixed deposits between 46 days to 179 days, 5.25% on FDs less than 180 days to 210 days. The bank has increased the interest rate on deposits maturing in 211 days to 10 years. After the latest hike, FDs maturing in 211 days to less than 1 year will give 25 bps extra – 5.75%. FDs ranging from 1 year to less than 2 years will offer an additional 65 bps to the general public. These fixed deposits will fetch an interest rate of 6.75%. Deposits with a maturity period of less than 2 years to 3 years will now fetch 6.75% interest rate, 50 bps higher. FDs of 3 years to less than 5 years and less than 5 years and up to 10 years will now offer 6.25% interest rate.
Latest SBI FD interest rates for general public effective from 13 December 2022
7 days to 45 days – 3%
46 days to 179 days – 4.5%
180 days to 210 days – 5.25%
211 days to less than 1 year – 5.50 to 5.75
1 year to less than 2 years – 6.75 to 6.10
2 years to less than 3 years – 6.25 to 6.75
3 years to less than 5 years – 6.10 to 6.25
5 years and up to 10 years – 6.10 to 6.25
SBI latest FD interest rates for senior citizens effective from 13 December 2022
State Bank Of India Provides an additional interest rate of 50 bps to senior citizens across all tenors. After the latest revision, senior citizens will get 3.5% to 7.25% on FDs maturing in 7 days to 10 years.
7 days to 45 days – 3.50%
46 days to 179 days – 5%
180 days to 210 days – 5.75%
211 days to less than 1 year – 6.25%
1 year to less than 2 years – 7.25%
2 years to less than 3 years -7.25%
3 years to less than 5 years – 6.75%
5 years and up to 10 years -7.25%@
SBI has increased bulk fixed deposit rates by 50-100 bps across all tenors.
on Wednesday, reserve Bank of India Announced an increase in the repo rate for the fifth time in a row. This time the difference is 35 bps, due to which the interest rate has gone from 5.90 to 6.25. RBI is increasing the repo rates from May 2022 to curb the inflation that the country is facing due to global trends.
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