Revised List of SBI FD Interest Rates After 20 Bps Hike

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.

Revised List of SBI FD Interest Rates After 20 Bps Increase

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.

Also read:

Missed Your Credit Card Payment Due Date? RBI Says Not To Worry

Here Are The Revised Interest Rate Table of SBI In Effect From October 15, 2022

FD TenureExisting Interest Rates In %Revised Interest Rates In % Existing Interest Rates In % For senior Citizens Revised Interest Rates In %
7 days to 45 days
46 days to 179 days3.944.44.5
180 days to 210 days4.554.655.055.15
211 days to less than 1 year4.
1 year to less than 2 year5.455.65.956.1
2 years to less than 3 years5.55.6566.15
3 years to less than 5 years5.
5 years and up to 10 years5.655.856.456.65

Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

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