Business

SBI will raise interest rates on short-term deposits.Click here for details

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

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