SBI fixed deposits interest rates hiked by up to 25 bps; see how you gain
The State Bank of India (SBI) has increased the interest rates on its retail domestic term deposits below Rs 1 crore by up to 25 bps. However, this revision in interest rate will be applicable only if you keep the money deposited for more than three or more. This upward revision will come into effect from March 31, 2018. Fixed deposit rates for more than 3 years but less than 5 years have been increased by 20 basis points (from 6.50 to 6.70%) and rate for over 5 years has been raised by 25 bps (from 6.50 to 6.75%)
On SBI fixed deposits of more than 2 years, interest rates have been raised by 10 basis points (from 6.50 to 6.60%). Image source: PTI