SBI Increased Fixed Deposit Interest Rates From Today; Check New Rates Here

Mumbai, 15th October 2022: Amidst the festive season, State Bank of India (SBI) will now pay more interest on Fixed Deposit (FD) than before. SBI has increased the interest rates of its FDs by up to 20 basis points for all tenors. The new interest rates will be applicable on fixed deposits of less than Rs 2 crore.

According to the bank’s website, the increased interest rates on FDs are effective from October 15, 2022. The bank has increased the interest rates on retail FDs after a gap of two months. The hike in FD interest rates ranges from 10 basis points (bps) to 20 bps.

SBI has increased the interest rates on FDs maturing between 7 days to 45 days from 2.90 percent to 3 percent. Similarly, FDs maturing between 46 days to 179 days will attract an interest rate of 4 percent.

Earlier the interest rate for this period was 3.90 per cent. The interest rate on retail FDs has increased to 4.65 percent between 180 days to 210 days.

The bank has increased the interest rate on deposits from 211 days to less than one year from 4.60 percent to 4.70 percent.

The interest rate on SBI FDs with maturities ranging from one year to less than two years has increased from 5.45 per cent to 5.60 per cent. The interest rate on FDs from two years to less than three years has been increased from 5.50 per cent to 5.65 per cent.

The interest rate on deposits maturing from three years to less than five years has been increased from 5.60 per cent to 5.80 per cent. The interest rate on FDs ranging from five years to 10 years has increased from 5.65 per cent to 5.85 per cent.