SBI Customers.
Fixed Deposit Rates Revised; Check the New FD Interest Rates & Other Details Here.
The State Bank of India (SBI) has revised the interest rates on its fixed deposits also known as ‘FDs’ for the second time this year. The SBI has changed interest rate on few select maturities, with effect from 9th of May 2019. The new interest rates will be made applicable to new deposits & renewals of maturing deposits. Also the rate of interest on “SBI Tax Savings Scheme 2006 (SBITSS)” Retail Deposits & NRO deposits will be aligned according to the proposed rates for domestic retail term deposits.
Revised State Bank of India FD Rates (For deposits below Rs 2 crore)
The interest rate on fixed deposits ranging between ‘seven days and up to one year’ has remained unchanged.
On FDs that are one year to less than two year, the rate of interest has been raised from 6.8% to 7% as per the SBI website.
On Fixed Deposits which are two years to less than three years, the lender has cut interest rate from 6.8 percent to 6.75 percent.
On deposits that are three years to less than five years, the rate of interest has been reduced marginally from 6.8 to 6.70 percent.
On FDs which are five years to ten years, the interest rate has been decreased from 6.85 percent to 6.60 percent.
State Bank of India pays interest rates to the tune of 5.75 to 7 percent to the customers for fixed deposits over a maturity period of 7 days to 10 years.
Senior citizens of the country will continue to get an extra rate of interest of 0.5 % on their deposits.
