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Thursday, Sep 19, 2019

SBI slashes FD rates. Here are the latest rates

The bank has kept the rate of interest for FDs maturing in 7 days to 45 days and 46 days to 179 days unchanged at 4.50% and 5.50% respectively.

business Updated: Sep 09, 2019 12:33 IST
HT Correspondent
HT Correspondent
Hindustan Times, New Delhi
SBI has cut the rate by 20 basis points for FDs maturing in 1 year to less than 2 years.
SBI has cut the rate by 20 basis points for FDs maturing in 1 year to less than 2 years. (REUTERS)
         

The State Bank of India (SBI) on Monday cut interest rates on fixed deposits or FDs, for the second time in about 15 days.

The new rate of interest will come into effect from Tuesday or September 10, 2019.

Here is SBI’s latest rate of interest:

SBI’s latest FD rates (below Rs 2 crore) from 7 days to less than a year

The bank has kept the rate of interest for FDs maturing in 7 days to 45 days and 46 days to 179 days unchanged at 4.50% and 5.50% respectively. It has cut the interest rates by 20 basis points on deposits maturing in 180 days to less than 1 year. These FDs will now fetch you an interest rate of 5.80%.

7 days to 45 days 4.50% (unchanged)

46 days to 179 days 5.50% (unchanged)

180 days to 210 days 5.80% from 6%

211 days to less than 1 year 5.80% from 6%

SBI’s latest FD rates (below Rs 2 crore) for maturity between 1 year and 3 years

SBI has cut the rate by 20 basis points for FDs maturing in 1 year to less than 2 years. These deposits will now get you a 6.50% interest instead of 6.70%.

The bank has reduced the interest rate on term deposits maturing in 2 years to less than 3 years by 25 basis points. For FDs maturing in 2 years to less than 3 years, you will get a 6.25% interest.

1 year to less than 2 years 6.50% from 6.70%

2 years to less than 3 years 6.25% from 6.50%

SBI’s latest FD rates (below Rs 2 crore) for maturity between 3 years and 10 years

The bank has not changed its rates on long-term FDs. Deposits maturing in 3 years to less than 5 years will fetch an interest rate of 6.25% and FDs maturing in five years to 10 years will also continue to give 6.25% interest.

3 years to less than 5 years 6.25% (unchanged)

5 years to 10 years 6.25% (unchanged)

SBI’s latest FD rates (below Rs 2 crore) for senior citizens

Senior citizens will continue to get an additional 50 basis points over the FD interest rates. The bank has slashed the interest rates on FD for senior citizens by 20-25 basis points.

7 days to 45 days 5.00% (unchanged)

46 days to 179 days 6% (unchanged)

180 days to 210 days 6.30% from 6.50%

211 days to less than 1 year 6.30% from 6.50%

1 year to less than 2 years 7% from 7.20%

2 years to less than 3 years 6.75% from 7%

3 years to less than 5 years 6.75% (unchanged)

5 years and up to 10 years 6.75% (unchanged)

First Published: Sep 09, 2019 12:33 IST