The State Bank of India (SBI), India’s largest lender, announced on Saturday that it has raised interest rates on fixed deposits (FD) by up to 10 basis points or 0.10%.
According to the SBI website, interest rates on fixed deposits with a holding period of one to less than two years have been raised from 5.0% to 5.1%. For the elderly, the rate will be increased from 5.50% to 5.60%.
This interest rate applies to the following FDs ￡2 rolls.
The new rates will be effective from January 15, 2022.
Interest rates on FDs for other holding periods have not changed.
SBI offers a maximum interest rate of 5.40% on FD for a period of 5 to 10 years in office. ..
For FDs with a holding period of less than 2 to 3 years, the interest rate will be 5.10%. If you have been in office for less than 3 to 5 years, the interest rate is 5.30%.
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SBI will raise interest rates on short-term deposits.Click here for details
Source link SBI will raise interest rates on short-term deposits.Click here for details