SBI FD rate hike: State Bank of India raises fixed deposit interest rates on these tenors

SBI FD rate hike: The new FD rates are effective from today (May 15).

Updated on: May 15, 2024, 14:26:29 IST

By HT News Desk

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The State Bank of India (SBI) raised its fixed deposit interest rates for certain tenures on retail deposits (up to ₹2 crore). The new FD rates are effective from today (May 15). SBI hiked interest rates on 46 to 179 days, 180 to 210 days, and 211 to less than one-year tenures by 25-75 basis points. The bank last hiked interest rates on FDs on December 27, 2023.

SBI FD rate hike: The new FD rates are effective from today (May 15).

SBI latest FD interest rates here:

Short-term deposits ranging from 7 days to 45 days- interest rate is 3.50%.
Deposits between 46 days and 179 days- interest rate is 5.50%.
Deposits between 180 days to 210 days- interest rate is 6.00%.
Deposits held for 211 days to less than one year- interest rate is 6.25%.
Tenure of 1 year to less than two years- interest rate is 6.80%.
Deposits of 2 years to less than three years- interest rate is 7.00%.
Durations of 3 years to less than five years- interest rate is 6.75%.
Long-term deposits spanning five years up to 10 years- interest rate is 6.50%.

SBI FD rates for senior citizens

Senior citizens receive an additional 50 basis points (bps) on their fixed deposits with SBI.

Deposits between seven days and ten years- interest rate ranges from 4% to 7.5%.
For 7 to 45 days, interest rate is 4%.
For 46 days to 179 days, interest rate is 6.00%.
For terms of 180 days to 210 days, interest rate is 6.5%.
Deposits held for 211 days to less than one year, interest rate is 6.75%.
For a tenure of 1 year to less than two years, interest rate is 7.30%.
Deposits of 2 years to less than three years, interest rate is 7.50%.
For periods of 3 years to less than five years, interest rate is 7.25%.
For long-term deposits of 5 years up to 10 years, interest rate is 7.50%.

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HT News Desk
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