SBI hike interest rates on FD, new rates applied today
Monday - July 30, 2018 2:28 pm ,
Category : INDIA
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July 30 (WTN) State Bank of India, the country's largest bank has declared interest rate hike on fixed-term deposits. According to the information given by the bank, the interest rate on small deposits has been increased. The change in interest rates has come into effect from July 30, 2018.
According to SBI, there is no change in deposits of less than 1 crore deposit deposits below 1 year, whereas interest rate on all deposit schemes above 1 year has been increased from 5 basis point to 10 basis point.
During the period, senior citizens are being given more interest on deposits of less than Rs. 1 crore. The rate of interest on the deposit scheme of 1-2 years has been increased from 6.65 percent to 6.70 percent for the citizens and 7.15 percent for senior citizens to 7.20 percent.
| Tenors | Existing for Public w.e.f. 28.05.2018 | Revised For Public w.e.f. 30.07.2018 | Existing for Senior Citizens w.e.f. 28.05.2018 | Revised for Senior Citizens w.e.f. 30.07.2018 |
| 7 days to 45 days | 5.75 | 5.75 | 6.25 | 6.25 |
| 46 days to 179 days | 6.25 | 6.25 | 6.75 | 6.75 |
| 180 days to 210 days | 6.35 | 6.35 | 6.85 | 6.85 |
| 211 days to less than 1 year | 6.40 | 6.40 | 6.90 | 6.90 |
| 1 year to less than 2 year | 6.65 | 6.70 | 7.15 | 7.20 |
| 2 years to less than 3 years | 6.65 | 6.75 | 7.15 | 7.25 |
| 3 years to less than 5 years | 6.70 | 5.75 | 7.20 | 7.30 |
| 5 years and up to 10 years | 6.75 | 6.25 | 7.25 | 7.35 |
