SBI hikes fixed deposit rates. Check latest FD rates here

livemint.com:

The State Bank of India (SBI) has hiked interest rates on fixed deposits (FDs). This interest rate is applicable on FDs below ₹2 crore. The new rate is effective from today, 27 December 2023. 

The bank has increased the rates on all tenures except for one year to less than 2 years, 2 years to less than 3 years, and five years to ten years.

For deposits maturing in seven days to forty-five days, SBI has hiked rates by 50 basis points (bps). Now these deposits will fetch you an interest rate of 3.50%, for 46 days to 179 days, the bank has hiked rates by 25 bps, and these will guarantee an interest of 4.75%. On term deposits with 180 days to 210 days tenor, SBI has increased rates by 50 bps. These FDs will fetch an interest rate of 5.75%. The bank has hiked rates by 25 bps on 211 days to less than 1 year tenors (6%). FDs maturing in 3 years to less than 5 years will now give 25 bps more, 6.75%.

7 days to 45 days 3.50%

46 days to 179 days 4.75%

180 days to 210 days 5.75%

211 days to less than 1 year 6%

1 Year to less than 2 years 6.80%

2 years to less than 3 years 7.00%

3 years to less than 5 years  6.75%

5 years and up to 10 years  6.50%

Senior citizens will get 50 basis points (bps) extra on these deposits. After the latest hike, SBI offers rates ranging from 4 to 7.5% on deposits maturing in seven days to ten years.

7 days to 45 days 4%

46 days to 179 days 5.25%

180 days to 210 days 6.25%

211 days to less than 1 year 6.5%

1 Year to less than 2 years 7.30%

2 years to less than 3 years 7.50%

3 years to less than 5 years 7.25

5 years and up to 10 years 7.5%

The bank had last revised FD rates in February 2023.

With this, SBI becomes the fifth bank to hike interest rates on term deposits in December 2023. Bank of India,