India
SBI increases FD rates by upto 10 bps
After HDFC Bank, now State Bank of India (SBI) has announced a hike in fixed deposit (FD) interest rates. According to SBI’s website, SBI has changed the rates on deposits of less than Rs 2 crore. The increased rates of the bank on FD have been implemented from 15 January 2022 i.e. from today itself.
According to the website, the bank has increased the interest rates by up to 10 basis points (bps) for a select period. Now interest of 2.90 to 5.40% will be available on FD. At the same time, senior citizens will now get 5.6% more instead of 5.5%.
See new FD rates-
| Tenure | Interest Rate (%) | Interest Rate for senior citizens (%) |
| 7-45 days | 2.90 | 3.40 |
| 46-179 days | 3.90 | 4.40 |
| 180-210 days | 4.40 | 4.90 |
| 211 days to less than 1 year | 4.40 | 4.90 |
| 1 year to less than 2 years | 5.00 | 5.60 |
| 2 years 1 day – 3 years | 5.10 | 5.60 |
| 3 years 1 day- 5 years | 5.30 | 5.80 |
| 5 years 1 day- 10 years | 5.40 | 6.20 |
