New Delhi: As the financial climate continues to evolve, it is essential to stay updated on the latest developments in interest rates, especially concerning fixed deposits. It is crucial for individuals and businesses looking to optimize their savings and investments. The FD rate depends on the repo rate.
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Banks changed their FD rates time-to-time. Following suit, the State Bank of India (SBI), one of India’s leading public sector banks, has changed their FD rates earlier.
Here’s the complete list of the latest FD rates of SBI.
For 7 days to 45 days, the rate is 3 percent for the general public and 3.5 percent for senior citizens. Within the range of 46 days to 179 days, the rate stands at 4.5 percent for the general public and 5 percent for senior citizens.
For deposits maturing between 180 days and 210 days, the interest rate is 5.25 percent for the general public and 5.75 percent for senior citizens.
Those who opt for a tenure of 211 days to less than 1 year will earn an interest rate of 5.75 percent as general public and 6.25 percent as senior citizens.
For deposits held from 1 year to less than 2 years, the interest rates are 6.8 percent for the general public and 7.3 percent for senior citizens. A 2-year to less than 3-year tenure offers an interest rate of 7 percent for the general public and 7.5 percent for senior citizens.
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Deposits maturing in 3 years to less than 5 years will yield an interest rate of 6.5 percent for the general public and 7 percent for senior citizens.
Long-term deposits of 5 years to up to 10 years offer an interest rate of 6.5 percent for the general public and 7.5 percent for senior citizens.
