State Bank of India, the country's largest lender, offers interest rate up to 5.4 per cent on fixed deposit of five years and up to 10 years on amount below Rs 2 crore, the Mumbai-based lender said on its website. Tenors for State Bank of India's fixed deposit accounts start from a minimum of 7 days and go up to 10 years, according to information on State Bank of India's website https://sbi.co.in. The State Bank of India revised its interest rates on fixed deposits on January 8, 2021 and the rates mentioned below are on deposits not exceeding Rs 2 crore.
Below are the latest interest rate offered by State Bank of India:
|Maturity Period||Interest Rate|
|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%|
The interest rate payable to SBI Staff and SBI pensioners will be 1.00 per cent above the applicable rate. The rate applicable to all Senior Citizens and SBI Pensioners of age 60 years and above will be 0.50 per cent above the rate payable for all tenors, SBI said on its website.
SBI fixed deposit holders can opt for receiving interest amount on monthly, quarterly, half-yearly or yearly basis, SBI added.