State Bank of India (SBI) reduces the Fixed Deposit Rates by 40 basis points (bps) across all tenor. This is the second consecutive rate cut in a month by the SBI. The rate cut is made on both retail as well as bulk deposits of Rs 2 crore or more. Earlier, SBI had slashed interest rates on term deposits for ‘unto 3 years’ tenor by 0.20% on May 12. In March, SBI had slashed the interest rate by 0.50% across tenors in the month of March.
SBI Latest Fixed Deposit Rates For General Public
7 days to 45 days – 2.9%
46 days to 179 days – 3.9%
180 days to 210 days – 4.4%
211 days to less than 1 year – 4.4%
1 year to less than 2 years – 5.1%
2 years to less than 3 years – 5.1%
3 years to less than 5 years – 5.3%
5 years and up to 10 years – 5.4%
Check for More about SBI Fixed Deposits – Here
SBI Latest Fixed Deposit Rates For senior citizens
SBI offers senior citizens’ an additional 0.50% interest rate across all tenors. The Deposit rates of the senior citizen are :
7 days to 45 days – 3.4%
46 days to 179 days – 4.4%
180 days to 210 days – 4.9%
211 days to less than 1 year – 4.9%
1 year to less than 2 years – 5.6%
2 years to less than 3 years -5.6%
3 years to less than 5 years – 5.8%
5 years and up to 10 years – 6.2%
SBI had also announced a special ‘SBI Wecare’ FD scheme for senior citizens in which the bank pays an additional premium of 0.30%, in addition to the existing 0.50% for senior citizens. The total additional benefit is 0.80% on ROI. This special scheme for senior citizens is applicable for deposits for five years or more maturity and valid up to 30th September, 2020.
SBI Fixed Deposit Interest Calculator
