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SBI Hikes FD Rates: Get More on Your Savings
23 Mar
Summary
- SBI increased fixed deposit rates for general customers.
- Senior citizens receive higher interest rates on select tenures.
- Rates adjusted for tenures between 46 days and two years.
State Bank of India (SBI) has recently boosted its fixed deposit interest rates for general customers. The bank has implemented an increase of 25 basis points across select tenures, offering more attractive returns on savings.
For general customers, deposits maturing between 46 days and 179 days will now earn 5.35%, up from 5.10%. Tenures from 180 days to less than one year see an increase to 5.85%, a rise from 5.60%. Furthermore, deposits with a maturity of one year to less than two years will now yield 6.50%, an improvement from the previous 6.25%.
Senior citizens continue to receive preferential treatment, with SBI offering higher interest rates on these revised tenures. For senior citizens, deposits maturing between 46 and 179 days will now earn 5.85%, an increase from 5.60%. Tenures of 180 days to less than one year have been revised to 6.35%, up from 6.10%. Deposits maturing in one to two years will now yield 7%, a rise from 6.75%.
