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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.

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SBI Raises Fixed Deposit (FD) Interest Rates

On fixed deposits below Rs 1 crore, SBI has raised interest rates between 5-10 basis points.


Highlights

  1. SBI has hiked FD interest rates across various maturities, amounts
  2. SBI has revised interest rates for both general and senior citizens
  3. Interest payable to SBI staff, SBI pensioners is 1% above applicable rate

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)

TenorsExisting for Public w.e.f. 28.05.2018Revised For Public w.e.f. 30.07.2018
7 days to 45 days5.755.75
46 days to 179 days6.256.25
180 days to 210 days6.356.35
211 days to less than 1 year6.46.4
1 year to less than 2 year6.656.7
2 years to less than 3 years6.656.75
3 years to less than 5 years6.76.8
5 years and up to 10 years6.756.85

 

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)

TenorsExisting for Senior Citizens w.e.f. 28.05.2018Revised for Senior Citizens w.e.f. 30.07.2018
7 days to 45 days6.256.25
46 days to 179 days6.756.75
180 days to 210 days6.856.85
211 days to less than 1 year6.96.9
1 year to less than 2 year7.157.2
2 years to less than 3 years7.157.25
3 years to less than 5 years7.27.3
5 years and up to 10 years7.257.35

 

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)

TenorsExisting w.e.f. 28.03.2018Revised w.e.f 30.07.2018
7 days to 45 days5.755.75
46 days to 179 days6.76.25
180 days to 210 days6.76.35
211 days to less than 1 year6.756.4
1 year to less than 2 years76.7
2 years to less than 3 years6.756.75
3 years to less than 5 years6.656.8
5 years and upto 10 years6.256.85

 

Latest SBI FD interest rates for senior citizens on fixed deposits between Rs 1 crore to Rs. 10 crore

(All figures in % per annum)

TenorsExisting for Senior Citizen w.e.f 28.03.2018Revised for Senior Citizen w.e.f. 30.07.2018
7 days to 45 days6.256.25
46 days to 179 days7.26.75
180 days to 210 days7.26.85
211 days to less than 1 year7.256.9
1 year to less than 2 years7.57.2
2 years to less than 3 years7.257.25
3 years to less than 5 years7.157.3
5 years and upto 10 years6.757.35

 

Latest SBI FD interest rates for general public on fixed deposits above Rs. 10 crore

(All figures in % per annum)

TenorsExisting w.e.f. 28.03.2018Revised w.e.f 30.07.2018
7 days to 45 days5.755.75
46 days to 179 days6.76.25
180 days to 210 days6.76.35
211 days to less than 1 year6.756.4
1 Year to less than 2 year76.7
2 years to less than 3 years6.756.75
3 years to less than 5 years6.656.8
5 years and up to 10 years6.256.85

 

Latest SBI FD interest rates for senior citizens on fixed deposits above Rs. 10 crore
(All figures in % per annum)

TenorsExisting for Senior Citizen w.e.f 28.03.2018Revised for Senior Citizen w.e.f. 30.07.2018
7 days to 45 days6.256.25
46 days to 179 days7.26.75
180 days to 210 days7.26.85
211 days to less than 1 year7.256.9
1 Year to less than 2 year7.57.2
2 years to less than 3 years7.257.25
3 years to less than 5 years7.157.3
5 years and up to 10 years6.757.35

 

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.



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