SBI fixed deposit interest rates hiked by up to 125 bps | Check new FD rates across tenors

financialexpress.com:

SBI Fixed Deposits: State Bank of India (SBI) has increased interest rates on its fixed deposits by up to 125 basis points (bps) on select tenors, effective May 15, 2024.

The revision has been effected on both retail domestic term deposits of below Rs 2 crore and domestic bulk term deposits of Rs 2 crore and above, according to SBI website.

Source: SBI website

For FDs of below Rs 2 crore with a maturity period of 7 days to 45 days, the bank has kept the rates unchanged for both general customers and senior citizens. For deposits with 46 days to 179 days maturity, SBI has hiked rates by 75 bps to 5.50% from 4.75% earlier for general customers. Senior citizens will now get a 6% rate against the previous 5.25% on FDs of these tenures.

Also read: FD interest up to 9.5%! Fixed deposit rates revised by these banks across tenors

General customers booking FDs of 180 days to 210 days tenures will get 6% interest on fixed deposits against the earlier 5.75%. For same tenure FDs, senior citizens will get 6.5% interest against the earlier 5.25%, an increase of 125 bps.

On FDs of tenures ranging 211 days to less than 1 year, the bank is providing 6.25% rate now against 6% earlier to general customers and 6.75% interest rate against 6.5% earlier to senior citizens.

For general customers buying SBI FDs for tenures of 1 year to less than 2 years, they will continue to get an FD rate of 6.8% with no change in rates under this tenure range. There is no change in rates for senior citizens either and they will keep receiving 7.3% interest rate on the FDs of these tenures.

For tenures ranging 2 years to less than 3 years, interest rate on FDs for general customers is maintained at 7% and for seniors at 7.5%. Similarly, FD tenures ranging 3