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HomePersonal FinanceSBI increased FD interest rates, see new rates

SBI increased FD interest rates, see new rates

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The country’s largest bank SBI is now giving people the option of earning more on FD. The bank has announced new interest rates on FD, which will help in increasing your income. See latest rate…

If you also want to earn good income from FD, then State Bank of India (SBI) is now going to give you a great gift. This largest bank of the country has already made the interest rates of its FD scheme attractive so that you can get good income. The new interest rates have also come into effect from May 15, 2024.

SBI has increased the interest rates on FDs of less than Rs 2 crore by 0.75 percent. With this, if you were getting 5 percent interest on FD for any period, now you will get 5.75 percent.

FD starts from 7 days, you will get this benefit

SBI offers minimum FD of 7 days to its customers. It offers different interest rates for FDs of different tenures. Whereas senior citizens are also given extra interest of up to 0.50 percent as compared to normal people. The different interest rates of SBI for different periods are as follows…

Interest rates on SBI FD…

  • For the period from 7 days to 45 days, general people will get 3.5 percent interest and senior citizens will now get 4 percent interest on FD.
  • Common people will now get 5.5 percent interest instead of 4.75 percent on FDs of 46 days to 179 days. The interest rate for senior citizens will be 6 percent.
  • Now the interest rate for the period of 180 days to 210 days will not be 5.75 percent but 6 percent. For senior citizens it will be 6.5 percent.
  • Earlier, people used to get 6 percent interest on FDs for tenure ranging from 211 days to less than one year. Now it will be 6.25 percent. For senior citizens it will be 6.75 percent.
  • Now the interest rate for the period from 1 year to less than 2 years will be 6.8 percent. For senior citizens it will be 7.3 percent.
  • Apart from this, the new interest rate is 7 percent for the period of more than 2 years but less than 3 years, 6.75 percent for the period of more than 3 years but less than 5 years and the interest rate for FD between 5 years to 10 years. Will be 6.5 percent.

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Pravesh Maurya
Pravesh Maurya
Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ businessleaguein@gmail.com
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