SBI last revised its FD interest rates with effect from October 10, 2019.State Bank of India or SBI offers a range of maturities for fixed deposit (FD) accounts.
Fixed deposits, also known as term deposits (TDs), are fixed income instruments that yield fixed returns over a pre-defined period of lock-in.
For retail domestic fixed deposits up to Rs 2 crore, SBI pays interest rates to the tune of 4.50-6.40 per cent to the general public over a maturity period of seven days to 10 years, according to the bank's website - sbi.co.in.
The lender last revised its FD interest rates with effect from October 10, 2019.SBI interest rate - retail domestic fixeddeposits up to Rs 2 croreSBI pays the following interest rates on fixed deposits up to Rs2 crore with effect from October 10, 2019, according to the bank's website:TenorsInterest rates for general publicInterest rates for senior citizens7 days to 45 days4.50%5.00%46 days to 179 days5.50%6.00%180 days to 210 days5.80%6.30%211 days to less than 1 year5.80%6.30%1 year to less than 2 years6.40%6.90%2 years to less than 3 years6.25%6.75%3 years to less than 5 years6.25%6.75%5 years and up to 10 years6.25%6.75%SBI interest rate - bulk domestic fixed deposits above Rs2 croreSBI pays the following interest rates on domestic fixeddeposits above Rs 2 crore with effect from October 10, 2019, according to the bank's website:TenorsInterest rates for general publicInterest rates for senior citizens7 days to 45 days4.3%4.8%46 days to 179 days5.3%5.8%180 days to 210 days5.7%6.2%211 days to less than 1 year5.7%6.2%1 year to less than 2 years6%6.5%2 years to less than 3 years6%6.5%3 years to less than 5 years5.756.25%5 years and upto 10 years5.756.25%SBI offers better returns to senior citizen customers compared to the general public.
On fixed deposits up to Rs2 crore, SBI pays interest rates in the range of 5-6.90per cent to the senior citizens, 50 basis higher compared to the general public across maturities, according to its website.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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