Report Wire - SBI hikes rates of interest on short-term fastened deposits. Details right here

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SBI hikes rates of interest on short-term fastened deposits. Details right here

1 min read
For senior citizens, the interest rate on FD of tenure from five years and up to 10 years stands at 6.20% (REUTERS)

India largest lender, the State Bank of India (SBI), on Saturday introduced that it has elevated rates of interest on fastened deposit (FD) by as much as 10 foundation factors or 0.10%.

According to the SBI web site, the rate of interest on fastened deposits for tenure 1 12 months to lower than 2 years has been elevated to five.1% from 5.0%. For senior residents the speed is elevated from 5.50% to five.60%. 

This rate of interest is relevant on FDs under ₹2 crore.

The new fee is efficient from 15 January 2022.

The rates of interest on FD of different tenure stays unchanged. 

SBI presents the best rate of interest of 5.40% on FD for tenure from 5-10 years. .

For FD of tenure two years to lower than three years, the rate of interest stands 5.10%. For tenure of three years to lower than 5 years the rate of interest is 5.30%. 

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