State Bank Of India FD Rates: If you have also got a fixed deposit in State Bank of India (SBI), then this is important news for you. The country’s largest public sector bank has changed the interest rates from today. According to the official website of the bank, the new rates of fixed deposits (SBI Hikes Interest Rates) have come into effect from today i.e. from May 10. Let’s check how much benefit the customers will get on the FD from now on-
For how many days FD can be done
The facility of FD from 7 days to 10 years is given to the customers by the bank. Customers can get FD for any length of time according to their need. On this time FD, customers are giving the benefit of interest ranging from 3 percent to 4.5 percent.
Let’s check the latest FD rates-
- 7 to 45 days – 3%
- 46 to 179 days – 3.5%
- 180 to 210 days – 3.5%
- 211 to one year – 3.75 percent
- 1 year to 2 years – 4%
- 2 years to 3 years – 4.25 percent
- 3 years to 5 years – 4.5 percent
- 5 to 10 years – 4.5 percent
Which customers will benefit
Let us tell you that all the customers who have made a fixed deposit of Rs 2 crore or more, then those customers will get the benefit of more interest from today. Let us tell you that there is no change in the rates of short-term FDs i.e. fixed deposits with a tenor of 7 to 45 days. At the same time, the rates of FDs from 46 days to 149 days have been increased by 50 basis points.
RBI hikes policy rates
Recently, the RBI governor has increased the policy rates. The Reserve Bank has increased the repo rates by 40 basis points. Last week, RBI Governor Shaktikanta Das had suddenly announced to increase the repo rate from 4 per cent to 4.40 per cent.
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