Team Blitz India
NEW DELHI: The State Bank of India (SBI) has raised its fixed deposit interest rates for certain time periods on retail deposits (up to Rs 2 crore) and bulk deposits (above Rs 2 crore). The bank has hiked its fixed deposit interest rates by 75 basis points (bps) on deposits maturing between 46 days and 179 days from 4.75% to 5.50%. For senior citizens, the bank has hiked from 5.25% to 6% on the same tenure.
The new FD rates are effective from May 15, as stated on the SBI website.
SBI raised the interest rate on the tenure of 180 days to 210 days by 25 bps from 5.75 % to 6% for general citizens.The bank has hiked FD rates by 25 bps on tenure of 211 days to less than 1 year from 6% to 6.25% for general citizens and 6.75% for senior citizens from 6.50%.
