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HomeBusinessSBI hikes interest rates on short-term fixed deposits. Details here

SBI hikes interest rates on short-term fixed deposits. Details here


India largest lender, the State Bank of India (SBI), on Saturday announced that it has increased interest rates on fixed deposit (FD) by up to 10 basis points or 0.10%.

According to the SBI website, the interest rate on fixed deposits for tenure 1 year to less than 2 years has been increased to 5.1% from 5.0%. For senior citizens the rate is increased from 5.50% to 5.60%. 

This interest rate is applicable on FDs below 2 crore.

The new rate is effective from 15 January 2022.

The interest rates on FD of other tenure remains unchanged. 

SBI offers the highest interest rate of 5.40% on FD for tenure from 5-10 years. .

For FD of tenure two years to less than three years, the interest rate stands 5.10%. For tenure of three years to less than five years the interest rate is 5.30%. 



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