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SBI FD Rates: The country's largest public sector bank has increased the interest rate on FD, know how much you will get now

Navbharattimes | May 16, 2024 12:04 PM CST

SBI has increased the interest rate on FD. The country's largest government bank has increased the interest on retail deposits up to Rs 2 crore and bulk deposits of more than Rs 2 crore. Know how much interest you will get now...

Highlights

SBI increased interest on FDs of some tenures
You will get more money on retail deposits up to Rs 2 crore
The increased rates of the bank have come into effect from today

New Delhi: The country's largest public sector bank SBI has increased the interest rate on fixed deposits (SBI FD). This increase has been made on retail deposits up to Rs 2 crore and bulk deposits of more than Rs 2 crore. The new interest rates on FDs have become effective from today. The bank has increased the FD interest rate by 75 basis points on deposits maturing between 46 days and 179 days. Now it has been increased from 4.75 percent to 5.50 percent. For senior citizens, the bank has increased the interest rate on FD for this tenure from 5.25% to six percent.

According to SBI's website, the bank has increased the interest rate by 25 bps for the tenure of 180 days to 210 days. For common people, the interest rate has been increased from 5.75 percent to 6 percent. FDs with tenures from 211 days to less than one year will now get 6.25% interest instead of 6 percent. For senior citizens, it has been increased from 6.50 percent to 6.75 percent.

Bulk Deposit

The bank has increased the interest rate on bulk deposits for the tenure of seven to 45 days by 25%. Now they will get 5.25% interest instead of 5%. For senior citizens, the interest has been increased from 5.50% to 5.75%. Similarly, for the tenure of 46 days to 179 days, the interest will be 6.25% instead of 5.75%. The bank has increased the interest rate for senior citizens from 6.25% to 6.75%. For the tenure of 180 days to 210 days, the interest rate has been increased by 10 bps. Common people will get 6.6% interest and senior citizens will get 7.10% interest.