The country's largest bank State Bank of India (SBI) has changed its interest rates on FD. The bank has reduced the interest rate on select maturities. The new interest rates will be effective from September 10. The bank has cut the interest rate on FDs from one year to less than two years by 0.20 percent. This interest rate will be effective on renewal of fresh deposits and matured deposits. Earlier, SBI had changed the interest rates on FD on 27 May.
With this latest amendment, the interest rate on SBI FDs with a maturity of seven days to 45 days is 2.9 percent, the interest rate on FDs of 46 days to 179 days is 3.9 percent, the interest rate on FDs of 180 days to less than one year is 4.4 percent. has occurred. Apart from this, the interest rate on SBI FDs with maturity ranging from one year to less than two years has been reduced to 4.9 percent.
At the same time, the interest rate on SBI FDs ranging from two years to less than three years is 5.1 percent, on FDs ranging from three years to less than five years, the interest rate is 5.3 percent and the period from five years to 10 years. Interest rate on FD is 5.4 percent.