There is news of work for the customers of SBI. The country’s largest public sector bank has given a wonderful gift to its 40 crore customers.
In fact, State Bank of India i.e. SBI has increased the interest rates on FDs of 7-45 days from 2.90 percent to 3 percent. Along with this, the interest rates for senior citizens have also been increased from 3.40 percent to 3.50 percent.
Bank hikes interest rates on FDs
SBI has introduced the first gift of the new year for its customers. Under this, SBI has increased the interest rates on FDs of 7-45 days from 2.90 percent to 3 percent. Along with this, the interest rates for senior citizens have also been increased from 3.40 percent to 3.50 percent.
Interest rates on FDs of 180-210 days have been increased from 3 percent to 3.10 percent. At the same time, the interest rates for senior citizens have been increased from 3.50 percent to 3.60 percent.
The bank has increased the interest rates on FDs for 1 year to 2 years from 4.90 percent to 5 percent. At the same time, the interest rates for senior citizens have been increased from 5.40 percent to 5.50 percent.
SBI has retained the interest rates on FDs from 2 to 3 years at 5.10. At the same time, the interest rates for senior citizens remain at 5.60 percent. Other interest rates have also been kept stable by the bank.
Bank increased base rate
The bank has also bound the base rate before this. The effect of increasing the base rate will be on interest rates. With an increase in the base rate, the interest rates will become more expensive than before, due to which the borrowers will have to pay more interest. Let us tell you that the right to decide the base rate is in the hands of the banks.
No private or government bank can offer loan below the base rate. All private and government banks consider the base rate as standard. On this basis, interest on the loan etc. is decided.
