SBI FD interest rates 2024: SBI has increased the FD interest rates. Know the details; The State Bank of India (SBI) has recently increased its fixed deposit interest rates for specific time periods on retail deposits up to ₹2 crore. As stated on the bank’s official website, these new rates came into effect on May 15, 2024.
SBI FD interest rates 2024
SBI has raised the interest rates for tenures ranging from 46 to 179 days, 180 to 210 days, and 211 to less than one year by 25-75 basis points (bps). It is worth noting that the bank had previously raised the interest rates on fixed deposits on December 27, 2023.
SBI FD interest rates for senior citizens
The State Bank of India (SBI) provides senior citizens with an additional 50 basis points (bps) on their fixed deposits. Post the recent rate increase, SBI presents interest rates for senior citizens that vary from 4% to 7.5% for deposit durations. It is ranging from seven days to ten years. More specifically, the interest rates are 4% for deposits lasting 7 days to 45 days, 6.00% for 46 days to 179 days, and 6.5% for durations of 180 days to 210 days. Deposits maintained for 211 days to less than one year yield an interest rate of 6.75%. For a period of 1 year to less than two years, the rate stands at 7.30%, while deposits ranging from 2 years to less than three years offer the highest rate of 7.50%. Interest rates for durations of 3 years to less than five years are at 7.25%. For long-term deposits spanning from 5 years up to 10 years, the rate remains at 7.50%.
