The State Bank of India (SBI) has revised its fixed deposit (FD) interest rates for deposits of less than ₹2 Crore. As per the bank's official website, the revised SBI FD interest rates are effective from today, December 13, 2022. The revised interest rates will be applicable to new deposits as well as to renewals of maturing FDs. The bank had previously revised the SBI FD interest rates on October 22, 2022.
Following the revision, the highest SBI FD interest rate is 6.75% for non-senior citizens and 7.25% for senior citizens.
State Bank Of India FD Rates
Here are the revised SBI FD rates for deposits of less than ₹2 Crore:
On SBI fixed deposits maturing in 7 days to 45 days, the bank is offering an interest rate of 3% for non-senior citizens and 3.5% for senior citizens.
For FDs with a tenure of 46 days to 179 days, SBI is now offering an interest rate of 4.5% to the general public, and 5% to senior citizens.
SBI will now offer an interest of 5.25% on fixed deposits with a tenure of 180 days to 210 days. Senior citizens will be offered an interest rate of 5.75% on FDs with the same tenure.
On SBI FDs with a tenure of 211 days to less than 1 year, the bank will provide interest at the rate of 5.75% to non-senior citizens and 6.25% to senior citizens.
Deposits maturing in 1 year to less than 2 years will now earn interest at the rate of 6.75%. Senior citizens will earn interest at the rate of 7.25% on deposits with the same maturity period.
SBI FDs with a maturity period of 2 years to less than 3 years will now fetch interest at the rate of 6.75%. The interest rate for such FDs will be 7.25% for senior citizens.
For FDs maturing in 3 years to less than 5 years, the bank will now offer an interest rate of 6.25% to the general public, and 6.75% to senior citizens.
Fixed deposits with a tenure of 5 years and up to 10 years will be offered an interest rate of 6.25% for the general public, and 7.25% for senior citizens.
Suggested Read: Fixed Deposit (FD) Rates 2022: SBI vs HDFC vs ICICI vs Kotak vs PNB vs Axis Bank
These revised SBI FD rates are valid for both new FDs and renewals of existing FDs.
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