SBI hikes interest rates for fixed deposits across tenures by 10-25 basis points

For tenures of three to five years and five to ten years, rates have been hiked from 6.50% to 6.70%, and from 6.50% to 6.75%, respectively.

The State Bank of India on Wednesday raised interest rates on fixed deposits across various tenures by 10-25 basis points.

On deposits of less than ₹1 crore for a tenure of two to three years, the interest rate has been raised to 6.60 % from 6.50%, according to the bank’s website. (Reuters File Photo)

On deposits of less than ₹1 crore for a tenure of two to three years, the interest rate has been raised to 6.60 % from 6.50%, according to the bank’s website.

For tenures of three to five years and five to ten years, rates have been hiked from 6.50% to 6.70%, and from 6.50% to 6.75%, respectively.

The bank also raised the interest on bulk term deposits ranging between ₹1 crore and ₹10 crore, for the tenure of one year to two years by 25 basis points to 7%.

Besides, on bulk deposits of more than ₹10 crore for a tenure of one year to two years, the bank raised the interest rate by 25 basis points to 7%.