State Bank of India, the country's largest lender, offers interest rate up to 5.4 per cent on fixed deposits amount of below Rs 2 crore for tenor of five years and up to 10 years, according to information on its website https://sbi.co.in. State Bank of India's fixed deposit interest rate payments can be availed by its customers on a monthly, quarterly, calendar quarter, half yearly and yearly basis as per the requirement of the customer, SBI noted. Senior citizens who go for SBI FD get 0.50 per cent extra interest rate for amount of Rs 10,000 and above, SBI added. SBI's fixed deposits start from tenor of 7 days and go up to 10 years and any individual can open fixed deposit account with State Bank of India for minimum deposit of Rs 1,000, according to State Bank of India. (Also Read: India Post Offers These Interest Rates On Small Savings Schemes)
Here are the latest fixed deposit interest rates offered by the State Bank of India
| Maturity Period | Interest Rate | |
|---|---|---|
| Public | Senior citizen | |
| Seven days to 45 days | 2.9% | 3.4% |
| 46 days to 179 days | 3.9% | 4.4% |
| 180 days to 210 days | 4.4% | 4.9% |
| 211 days to less than one year | 4.4% | 4.9% |
| One year to less than two years | 5.0% | 5.5% |
| Two years to less than three years | 5.1% | 5.6% |
| Three years to less than five years | 5.3% | 5.8% |
| Five years and up to 10 years | 5.4% | 6.2% |
| (Source: sbi.co.in) | ||
State Bank of India last revised its interest rate on fixed deposits on January 8, 2021 and the interest rate payable to SBI Staff and SBI pensioners will be 1 per cent above the applicable rate, SBI said.
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