SBI increases interest rates on fixed deposits by up to 50 basis points from December 27
New Delhi: State Bank of India (SBI) on Wednesday increased retail fixed deposit rates by up to 50 basis points (bps) for fixed deposits (FDs) of less than Rs 2 crore, according to updated data on SBI. , which is effective today, December 27.
State Bank of India has implemented rate hikes across various deposit tenures. For deposits with a tenure of seven to 45 days, the term deposit rate has increased by 50 basis points to 3.50 per cent for general depositors and 4.00 per cent for senior citizens.
Similarly, rates on deposits with tenure of 180 to 210 days have increased by 50 basis points to 5.75 per cent for general depositors and 6.25 per cent for senior citizens.
In case of deposits ranging from 46 to 179 days, the rate has been increased by 25 basis points to 4.75 per cent for general depositors and 5.25 per cent for senior citizens.
Additionally, deposits with tenures ranging from 211 days to less than one year have seen an increase of 25 basis points to 6 per cent for general depositors and 6.50 per cent for senior citizens. Additionally, rates on deposits ranging from three years to less than five years have now increased by 25 basis points to 6.75 per cent for general depositors and 7.25 per cent for senior citizens.
SBI ‘400 Days’ Term Plan ‘Amrit Kalash’
Specific tenure plan of “400 days” (Amrit Kalash) at interest rate of 7.10 per cent. 12- April- 2023. Senior citizens are eligible for an interest rate of 7.60 percent. According to SBI website, this scheme will be valid till 31 March 2024.
SBI shares
SBI shares were trading 0.84 per cent higher at Rs 643.40 at 1:14 pm IST on Wednesday.
