SBI hikes Fixed Deposit (FD) interest rates, check new rates here
New Delhi, Nov 29: The country's largest public lender State Bank of India (SBI), the largest lender of the country, hiked its fixed deposit (FD) interest rates on select maturities with effect from Wednesday, the lender said on its website, sbi.co.in.
The rate of rise in SBI FD interest rates is between 0.05-0.10 per cent or 5-10 basis points. One basis point is equivalent to 0.01 per cent.
SBI has hiked its fixed deposit interest rates on deposits below Rs. 1 crore. SBI hiked its FD interest rates ahead of the fifth bi-monthly monetary policy review outcome on December 5.
The interest rate on SBI FDs with a maturity of 180 days to 210 days also remains unchanged at 6.35 per cent. Finally, the interest rate on SBI FDs with a maturity of 211 days remains fixed at 6.40 per cent.
|Maturity period||Past rates (%)||Present rates (%)|
|7 days to 45 days||5.75||5.75|
|46 days to 179 days||6.25||6.25|
|180 days to 200 days||6.35||6.35|
|211 days to less than 1 year||6.40||6.40|
|1 year to less than 2 years||6.70||6.80|
|2 years to less than 3 years||6.75||6.80|
|3 years to less than five years||6.80||6.80|
|5 years to 10 years||6.85||6.85|
The increase in fixed deposit interest rates by SBI comes close on the heels of ICICI Bank and HDFC Bank revising their rates earlier this month.