SBI Increases Interest Rates on Fixed Deposits, Check Details

New Delhi: The State Bank of India (SBI) increased the interest rates on several fixed deposits (FDs) by up to 0.5 per cent. This change in interest rates will be implemented with immediate effect.

The interest rate on deposits with the SBI for 7 days to 45 days will now get 3.50 per cent interest instead of 3 per cent.

The interest rate on 46 days to 179 days fixed deposits has been enhanced to 4.75 per cent from 4.50 per cent.

The SBI raised the interest rate on 180 days to 210 days fixed deposits from 5.25 per cent to 5.75 per cent.

For FDs maturing in 211 days to less than one year, will now have 6 per cent interest instead of 5.75 per cent.

The deposits maturing between three years to less than five years, the interest rate is raised to 6.75 from 6.50 per cent. Interest rates for other fixed deposit tenures have not been changed.

In the case of the Amrit Kalash specific tenor scheme of ‘400 days’ at rate of interest of 7.10 per cent w.e.f. April 12, 2023, senior citizens are eligible for a rate of interest of 7.60 per cent. The scheme will be valid till March 31, 2024.