SBI FD Rates again reduced big reduction see latest rates here. The country’s largest state-run State Bank of India (SBI) has given a shock to its customers. The bank has reduced interest rates on fixed deposits. Earlier, SBI had changed the interest rates on FD on 27 May. If you are thinking of making a fixed deposit in SBI, then know about the new rate.
SBI FD Rates again reduced big reduction see latest rates here
The bank has cut the interest rate on FDs from one year to less than two years by 0.20 percent. Now more than 1 year and less than 2 years FD will get interest of 4.90 percent in this bank. Whereas before this, the bank was paying 5.10 percent interest. The new interest rates have come into effect from 10 September.
After this change, now the interest rate on FD with maturity of 7 days to 45 days in SBI Bank is 2.9 per cent, interest rate on FDs of 46 days to 179 days is 3.9 per cent, interest rates on FDs less than 180 years to one year 4.4 percent.
Whereas for one year more and two years less, the interest will be 4.9 percent on the deposit. For two years to three years, the interest rate on FD will be 5.1 per cent, for three years to five years, the interest rate on FD will be 5.3 per cent and on five years to 10 years the interest rate will be 5.4 per cent.
It is worth noting that SBI started a deposit scheme for senior citizens in the retail term deposit segment named SBI Wecare Deposit. In which the last date for investment was 30 September, which has now been extended to 31 December. In this scheme, senior citizens are being given more interest on fixed deposits of 5 years or more.
Senior citizen will get 0.50% extra interest on fixed deposits for a period of less than 5 years. While 0.80% interest will be given on retail term deposits of more than 5 years, this includes an additional 0.30%. However, there will be no benefit of additional interest on withdrawals before maturity. On 5 years FD, it will get 6.20 percent interest.