SBI FD Rates:The State Bank of India (SBI), the country’s largest public sector bank, has reduced the interest rates on fixed deposits (FDs).
The interest rate has been cut by 0.10 percent for FDs of less than Rs 3 crore. The new rates will be effective from April 15.
SBI offers FDs ranging from 7 days to 10 years. The highest interest rate for senior citizens is on FDs with a tenure of 5 to 10 years, offering 7.50 percent.
Following the RBI’s reduction of the repo rate, many banks have also cut FD rates.
Banks like Yes Bank, HDFC Bank, Bank of Baroda, and Indian Bank have already lowered their FD interest rates. Now, SBI has joined this list.
Latest Interest Rates on SBI Fixed Deposits:
7 days to 45 days:
General Public: 3.50%
Senior Citizens: 4.00%
46 days to 179 days:
General Public: 5.50%
Senior Citizens: 6.00%
180 days to 210 days:
General Public: 6.25%
Senior Citizens: 6.75%
211 days to less than 1 year:
General Public: 6.50%
Senior Citizens: 7.00%
1 year to less than 2 years:
General Public: 6.70%
Senior Citizens: 7.20%
2 years to less than 3 years:
General Public: 6.90%
Senior Citizens: 7.40%
3 years to less than 5 years:
General Public: 6.75%
Senior Citizens: 7.25%
5 years to 10 years:
General Public: 6.50%
Senior Citizens: 7.50%.
