SBI cuts fixed deposit (FD) rates sharply. Check latest rates here

SBI cuts fixed deposit (FD) rates sharply. Check latest rates here

State Bank of India (SBI) today sharply reduced the fixed deposit(FD) rates after RBI today cut interest rates by 75 basis points to 4.4%. The revised rates came into effect from 28th March.

SBI had earlier cut interest rates on FDs on 10th March.

The bank reduced domestic retail term deposit(TD) interest rates by 20 bps to 50 bps across tenors and bulk TD interest rates reduced by 50 bps to 100 bps across tenors.

According to the latest revision, SBI FDs between 7 days to 45 days will now fetch 3.5%, from 4% earlier. FDs between 46 days to179 days will fetch 4.5% instead of 5%.FDs of 180 days to less than one year will fetch 5% instead of 5.5%. SBI fixed deposits between 1 year and up to 10 years will now fetch 5.7% from 5.9% earlier.

SBI said senior citizens will continue to get 50 basis points higher interest rates than offered to general public. These rates are applicable on retail fixed deposits of less than ₹2 crore.

According to the latest revision, SBI FDs between 7 days to 45 days will now fetch 3.5%, from 4.0% earlier.

SBI latest FD rates for general public:

7 days to 45 days – 3.5%

46 days to 179 days – 4.5%

180 days to 210 days- 5%

211 days to less than 1 year – 5%

1 year to less than 2 year- 5.7%

2 years to less than 3 years – 5.7%

3 years to less than 5 years – 5.7%

5 years and up to 10 years – 5.7%

SBI latest FD rates for senior citizens

7 days to 45 days – 4%

46 days to 179 days – 5%

180 days to 210 days- 5.5%

211 days to less than 1 year – 5.5%

1 year to less than 2 year- 6.2%

2 years to less than 3 years – 6.2%

3 years to less than 5 years – 6.2%

5 years and up to 10 years – 6.2%

 

Source:- livemint

Share: