SBI increases FD rates in 2021

January 10, 2021

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State Bank of India, the country’s largest state-run bank, has given good news to its millions of customers. SBI has increased the interest rates on fixed deposits of select maturity period. The bank has increased interest on FDs (Fixed Deposit interest rates) up to 10 basis points for one to two years duration. The new rates have come into effect from 8 January 2021. Let’s check the latest rates

SBI has told that these rates have come into effect from January 8 on retail FDs below Rs 2 crore. Before that, the interest rates were revised on September 10.

SBI FD Interest rates 2021

FDs of 7 days to 45 days will get interest at the rate of 2.9 percent.
FDs of 46 days to 179 days will get interest at the rate of 3.9 percent.
For FDs less than 1 year from 180 days, interest will be given at the rate of 4.4 percent.
From 211 days, FDs less than 1 year will get interest at the rate of 4.4 percent.
FDs below 1 year to 2 years will get 5% interest.
FDs below 2 to 3 years will get interest at the rate of 5.1 percent.
FDs of 3 to 5 years will get interest at the rate of 5.3 percent.
FDs of 5 years and 10 years will get interest at the rate of 5.4 percent.

How much interest will be paid to senior citizens

Senior citizens, will get 50 basis points more interest than ordinary customers. According to the amendment made by the bank, senior citizens will get around 3.4 per cent to 6.2 per cent interest on FDs maturing from 7 days to 10 years.