Latest SBI Fixed Deposit Rates: Here's what State Bank of India offers on FDs below Rs 2 crore
As per the official website of SBI, the "revised" interest rates are applicable from February 22, 2019. Fixed deposits are one of the most preferred investment options for salaried and middle-class investors.
State Bank of India (SBI) recently revised its fixed deposit (FD) rates on retail deposits up to Rs 2 crore. As per the official website of SBI, the "revised" interest rates are applicable from February 22, 2019. Fixed deposits are one of the most preferred investment options for salaried and middle-class investors. As these deposits are risk-free, easy-to-understand and come with decent interest rates.
The leading commercial bank keeps revising its interest rates on fixed deposits of different tenures from time to time. The country's largest commercial lender, SBI offers an interest rate up to 7.35 per cent FDs below Rs 2 crore. The State Bank of India (SBI) has categorised the tenures in eight brackets starting from ‘7 days to 45 days’ to ‘5 years and up to 10 years’.
FD rates for senior citizens offered by the SBI are higher by 50 basis points from the regular rates.
According to State Bank of India's official website, the interest rate payable on fixed deposits of different tenures to SBI Staff and SBI pensioners will be 1 per cent above the applicable rate.
The interest rates applicable for all Senior Citizens and SBI Pensioners aged 60 years and above is 0.50 per cent more than the rate payable to all tenors to resident Indian senior citizens.
Chart of revised interest rates (Source: SBI official website)
All resident Indians falling under the senior citizen category and pensioners of State Bank of India are entitled to get both the benefits of staff (1 per cent) and resident Indian senior citizen (0.50 per cent).
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