SBI FD Rates: The country’s largest public sector bank SBI has increased interest rates for the second time. The new rates increased by SBI have become effective from March 10. Let’s know the new rates.
SBI FD Rates: There is important news for SBI customers. State Bank of India (SBI) has increased the rates of fixed deposits (SBI FD rate). These new rates have become effective from March 10. SBI has increased the amount by 20-50 basis points on fixed deposits with deposits above Rs 2 crore.
SBI hikes interest rates
After this change, the FD interest rate of more than Rs 2 crore, whose tenure ranges from 211 days to less than one year, has increased by 20 basis points. Interest of 3.30 percent will be available on such FD from March 10, 2022.
Let us tell you that earlier its rate used to be 3.10%. For such FD, senior citizens used to get 3.60 percent interest on this FD earlier, which has increased to 3.80 percent.
Other rates also increased
Apart from this, State Bank of India has also increased the rates of fixed deposits. Under this, the rate of FD from one year to 10 years has been increased by 50 basis points. That is, the FD which used to get 3.10 percent interest earlier, will now get 3.60%.
The interest on FDs of senior citizens has been increased from 3.60 per cent to 4.10 per cent. The new rates will be applicable on both types of FDs, i.e. if a new FD is made or the old FD is renewed, the new rates will also be applicable.
FD rate less than 2 crores
According to SBI, the interest rate has been increased by 10 basis points to 5.20 per cent for FD tenors of less than 2-3 years, by 15 basis points to 5.45 per cent for FD tenors from three years to less than five years.
For FDs up to 5-10 years, the interest rate has been increased by 10 basis points to 5.50% from February 15 this year. At the same time, senior citizens will get 0.50% more rate than the normal rate for all the tenors.
Senior citizens will now get 3.5% to 4.10% interest rate on deposits maturing in seven days to 10 years after the change.
