State Bank of India (SBI) has recently increased its FD interest rates by 20 bps across all deposit plans. The revised interest rates will be applicable for the FD plans to have a deposit value of less than ₹2 Cr. As per the information available on the official website the revised FD interest rates are in effect from October 15, 2022. This hike has been noticed on retail term deposit plans after a break of two months. Across all the tenures the hike ranges between 10 bps to 20 bps as per website info.
SBI Revised FD Interest Rates
“SBI has increased “interest rates for the deposits maturing between 7 days to 45 days to 3 percent from 2.90 percent. Similarly, FDs maturing between 46 days to 179 days, will fetch an interest rate of 4 percent. Earlier, the interest rate for this tenure was 3.90 percent. Following the revision, the interest rate on retail domestic term deposits ranging between 180 days to 210 days has jumped to 4.65 percent from 4.55 percent”, mentioned economic times.
Moreover, “the bank has hiked the interest rate on deposits maturing between 211 days to less than one year to 4.70 percent from 4.60 percent. The interest rate on SBI retail domestic term deposits maturing between one year to less than two years has surged to 5.60 percent from 5.45 percent. For FDs maturing between two years to less than three years, the interest rate has been raised to 5.65 percent from 5.50 percent. On deposits maturing between three years to less than five years, the interest rate has been increased to 5.80 from 5.60 percent. For FDs maturing between five years to up to 10 years, the interest rate has jumped to 5.85 percent from 5.65 percent”, further added.
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Here Are The Revised Interest Rate Table of SBI In Effect From October 15, 2022
| FD Tenure | Existing Interest Rates In % | Revised Interest Rates In % | Existing Interest Rates In % For senior Citizens | Revised Interest Rates In % |
| 7 days to 45 days | 2.9 | 3 | 3.4 | 3.5 |
| 46 days to 179 days | 3.9 | 4 | 4.4 | 4.5 |
| 180 days to 210 days | 4.55 | 4.65 | 5.05 | 5.15 |
| 211 days to less than 1 year | 4.6 | 4.7 | 5.1 | 5.2 |
| 1 year to less than 2 year | 5.45 | 5.6 | 5.95 | 6.1 |
| 2 years to less than 3 years | 5.5 | 5.65 | 6 | 6.15 |
| 3 years to less than 5 years | 5.6 | 5.8 | 6.1 | 6.3 |
| 5 years and up to 10 years | 5.65 | 5.85 | 6.45 | 6.65 |
