The country's largest government bank SBI has given a tremendous gift of New Year to its customers.
State Bank of India (SBI) has increased fixed deposit (FD) rates by up to 80 basis points.
Let us see what is the new and old interest rate on fixed deposit and how many Basis Point (BPS) has increased.
Duration: 7 days to 45 days 3.00 Old interest rate: 3.00 New interest rate: 3.00
Duration: 46 days to 179 days Old interest rate: 4.oo New interest rate: 4.50
Duration: 180 days to 210 days 4.65 Old interest rate: 4.65 New interest rate: 5.25
Duration: 211 days to less than 1 year Old interest rate: 4.70 New interest rate: 5.50
Duration: 1 year to less than 2 years Old interest rate: 5.60 New interest rate: 6.10
Duration: 2 years to less than 3 years Old interest rate: 5.65 New interest rate: 6.25
Duration: 3 years to less than 5 years Old interest rate: 5.80 New interest rate: 6.10
Duration: 5 years to 10 years Old interest rate: 5.85 New interest rate: 6.10
The increased interest rates have come into effect from 22.10.2022. This increase is for Retail Term deposits.
Under Retail Term deposits, customers who have FD of less than two crore rupees are included.