SBI Raises Fixed Deposit (FD) Interest Rates
State Bank of India, the largest lender of the country, has revised its fixed deposit (FD) interest rates with effect from today. FD interest rates have been revised across various maturities, amounts and for both general and senior citizens, stated SBI's corporate website, sbi.co.in. On fixed deposits below Rs 1 crore, interest rates have been raised between 5 basis points-10 basis points, which means between 0.05 per cent-0.1 per cent across tenures of 1 year-up to 10 years. One basis point is equal to 0.01 per cent.
Latest SBI FD interest rates for general public:
The following SBI FD interest rates are applicable on retail fixed deposits (below Rs 1 crore) with effect from 30.07.2018:
(All figures in % per annum)
| Tenors | Existing for Public w.e.f. 28.05.2018 | Revised For Public w.e.f. 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 5.75 | 5.75 |
| 46 days to 179 days | 6.25 | 6.25 |
| 180 days to 210 days | 6.35 | 6.35 |
| 211 days to less than 1 year | 6.4 | 6.4 |
| 1 year to less than 2 year | 6.65 | 6.7 |
| 2 years to less than 3 years | 6.65 | 6.75 |
| 3 years to less than 5 years | 6.7 | 6.8 |
| 5 years and up to 10 years | 6.75 | 6.85 |
Latest SBI FD interest rates for senior citizens:
The following SBI FD interest rates for senior citizens are applicable on retail fixed deposits (below Rs 1 crore) with effect from 30.07.2018:
(All figures in % per annum)
| Tenors | 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 | 6.25 | 6.25 |
| 46 days to 179 days | 6.75 | 6.75 |
| 180 days to 210 days | 6.85 | 6.85 |
| 211 days to less than 1 year | 6.9 | 6.9 |
| 1 year to less than 2 year | 7.15 | 7.2 |
| 2 years to less than 3 years | 7.15 | 7.25 |
| 3 years to less than 5 years | 7.2 | 7.3 |
| 5 years and up to 10 years | 7.25 | 7.35 |
The interest rate payable to SBI staff and SBI pensioners is 1 per cent above the applicable rate, SBI said. The proposed rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits.
Latest SBI FD interest rates for general public on fixed deposits between Rs 1 crore to Rs. 10 crore
(All figures in % per annum)
| Tenors | Existing w.e.f. 28.03.2018 | Revised w.e.f 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 5.75 | 5.75 |
| 46 days to 179 days | 6.7 | 6.25 |
| 180 days to 210 days | 6.7 | 6.35 |
| 211 days to less than 1 year | 6.75 | 6.4 |
| 1 year to less than 2 years | 7 | 6.7 |
| 2 years to less than 3 years | 6.75 | 6.75 |
| 3 years to less than 5 years | 6.65 | 6.8 |
| 5 years and upto 10 years | 6.25 | 6.85 |
Latest SBI FD interest rates for senior citizens on fixed deposits between Rs 1 crore to Rs. 10 crore
(All figures in % per annum)
| Tenors | Existing for Senior Citizen w.e.f 28.03.2018 | Revised for Senior Citizen w.e.f. 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 6.25 | 6.25 |
| 46 days to 179 days | 7.2 | 6.75 |
| 180 days to 210 days | 7.2 | 6.85 |
| 211 days to less than 1 year | 7.25 | 6.9 |
| 1 year to less than 2 years | 7.5 | 7.2 |
| 2 years to less than 3 years | 7.25 | 7.25 |
| 3 years to less than 5 years | 7.15 | 7.3 |
| 5 years and upto 10 years | 6.75 | 7.35 |
Latest SBI FD interest rates for general public on fixed deposits above Rs. 10 crore
(All figures in % per annum)
| Tenors | Existing w.e.f. 28.03.2018 | Revised w.e.f 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 5.75 | 5.75 |
| 46 days to 179 days | 6.7 | 6.25 |
| 180 days to 210 days | 6.7 | 6.35 |
| 211 days to less than 1 year | 6.75 | 6.4 |
| 1 Year to less than 2 year | 7 | 6.7 |
| 2 years to less than 3 years | 6.75 | 6.75 |
| 3 years to less than 5 years | 6.65 | 6.8 |
| 5 years and up to 10 years | 6.25 | 6.85 |
Latest SBI FD interest rates for senior citizens on fixed deposits above Rs. 10 crore
(All figures in % per annum)
| Tenors | Existing for Senior Citizen w.e.f 28.03.2018 | Revised for Senior Citizen w.e.f. 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 6.25 | 6.25 |
| 46 days to 179 days | 7.2 | 6.75 |
| 180 days to 210 days | 7.2 | 6.85 |
| 211 days to less than 1 year | 7.25 | 6.9 |
| 1 Year to less than 2 year | 7.5 | 7.2 |
| 2 years to less than 3 years | 7.25 | 7.25 |
| 3 years to less than 5 years | 7.15 | 7.3 |
| 5 years and up to 10 years | 6.75 | 7.35 |
Recurring deposit (RD) interest rates of SBI
Recurring deposit or RD interest rates of SBI are the same as that on FDs. Thus, fresh recurring deposit interest rates of SBI kick in from today.
SBI last revised its fixed deposit interest rates on May 28.
Other banks may soon follow suit.
The revision in fixed deposit interest rates by SBI comes ahead of Reserve Bank of India 's third bi-monthly policy review, scheduled to be released on August 1. According to the latest Reuters poll, thirty-seven of 63 economists said that the RBI will raise key interest rates again in August and 22 respondents said the next rate hike would come by end-2018 or in the January-March quarter next year.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
