New Delhi: During the festival season, the State Bank of India (SBI) has given a big relief to customers who are willing to make fixed deposits i.e. FDs. Actually, SBI has now decided to pay more interest on FD than before. In fact, SBI has increased its FD interest rates by up to 20 basis points for all tenors. The new interest rates will be applicable on fixed deposits of less than Rs 2 crore.
According to SBI's website, the increased interest rates on FDs are applicable from October 15, 2022. The bank has increased interest rates on retail FDs after a gap of two months. According to SBI's website, the increase in FD interest rates ranges from 10 basis points (BPS) to 20 BPS. SBI has increased interest rates on FDs maturing between 7 days and 45 days from 2.90 per cent to 3 per cent. Similarly, FDs maturing between 46 days and 179 days will get an interest rate of 4 per cent. Earlier, the interest rate for this period was 3.90 per cent. At the same time, the interest rate on retail FDs between 180 days and 210 days has increased to 4.65 per cent.
At the same time, SBI has increased the interest rate on deposits of 211 days to less than one year from 4.60 per cent to 4.70 per cent. The interest rate on SBI FDs with a maturity period of one year to less than two years has increased from 5.45 per cent to 5.60 per cent. At the same time, the interest rate on FDs of two years to less than three years has been increased from 5.50 per cent to 5.65 per cent. With this, the interest rate on FDs maturing from three years to less than five years has increased from 5.60 per cent to 5.80 per cent. At the same time, the interest rate on fixed deposits from five years to 10 years has increased from 5.65 per cent to 5.85 per cent.
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