SBI FD Rate Hike: SBI implemented new interest rates on FD for senior citizens, see full list here

New Delhi: If you wish to make a hard and fast deposit (FD) within the financial institution, then there may be excellent news for you. State Bank of India has introduced a rise within the interest rates on FDs out there for sure tenures from May 15, 2024. This enhance has been made for those that have deposits of lower than ₹ 2 crore.

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Let us inform you that SBI has now elevated the interest fee on FDs with tenure of 46 to 179 days by 25 to 75 foundation factors (bps). Because of which you’ll now get extra interest than the sooner interest fee. Earlier, State Bank of India (SBI) had elevated the interest rates on Fixed Deposit (FD) final yr on December 27, 2023.

SBI gives totally different FD interest rates relying on the tenure of funding. Let us know what are the new interest rates of SBI (newest SBI FD Rates 2024) after this variation….

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SBI’s new interest rates for frequent individuals

7 days to 45 days – 3.50%
46 days to 179 days – 5.50% (earlier 5.25%)
180 days to 210 days – 6.00%
211 days to lower than 1 yr – 6.25%
1 yr to lower than 2 years – 6.80%
2 1 yr to lower than 3 years – 7.00% (highest interest fee)
3 years to lower than 5 years – 6.75%
5 years to 10 years – 6.50%

Special profit for senior residents

Senior residents (SBI FD Rates for Senior Citizens) get further advantages on SBI FD. They are given 50 foundation factors extra interest than the frequent individuals. After the rise in interest rates, now senior residents can get 4% to 7.5% interest on FD of seven days to 10 years. These rates are solely for Indian resident senior residents.

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New interest rates on FD for senior residents

7 days to 45 days: 4%
46 days to 179 days: 6.00%
180 days to 210 days: 6.50%
211 days to lower than 1 yr: 6.75%
1 yr to lower than 2 years: 7.30%
2 years to three years Less: 7.50% (highest interest fee)
3 years to lower than 5 years: 7.25%
5 years to 10 years: 7.50%

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