SBI FD Rates State Bank of India has revised its FD rates. The bank has given a big shock to the investors who have made FDs. Actually, the bank has reduced the rate of interest on fixed deposits. Let us know how much interest will be received on making FD now.
The country’s largest public sector bank, State Bank of India (SBI), has once again given a big shock to the customers. The bank has changed the interest rate on savings accounts. It has been reduced to 2.5%. With this, the bank has cut the interest on FD i.e. fixed deposit (SBI Cuts FD Rates).
Earlier, State Bank of India had cut the interest rates on savings accounts on 15 October 2022. During that time, the bank used to give 2.70% interest to the customers on an amount less than Rs 10 crore. And the bank used to give 3% interest on an amount more than Rs 10 crore.
SBI cuts FD interest rate, know how much interest will be available now
State Bank of India has cut the interest rates (SBI FD Rates) on all its FDs. This reduction has been done on the basis of 5-75 basis points depending on the period. Earlier, FDs of 7 to 45 days used to get 3.50% interest. Now, 3% interest will be given.
- Customers will get 4.25% interest on FDs of 46 to 179 days. Earlier, 4.75% interest was given.
- FDs of 211 days to less than 1 year will now get 5.50% interest. Earlier, 6% interest was given on this.
- SBI customers will now get 6.30% interest on FDs of more than 1 year and less than 2 years. Earlier, 6.80% interest was given on this.
- FDs of more than 2 years and less than 3 years will get 6.50% interest. Earlier, 7% interest was given on this time period.
- SBI FDs of more than 3 years and less than 5 years will now get 6.25% interest. Earlier, 6.75% interest was given on this.
- Now, 6% interest will be available on FDs of 5 to 10 years. Earlier, 6.50% interest was available on this.
How much interest will senior citizens get on FD
- Senior citizens will get 3.5% interest rate on FDs of 7 to 45 days.
- Senior citizens will get 5.5% interest on FDs of 46 to 179 days.
- Senior citizens will get 6% interest on FDs of 211 days to less than 1 year.
- Senior citizens will get 6.80% interest on FDs of more than 1 year and less than 2 years.
- Senior citizens will get 7% interest on FDs of more than 2 years and less than 3 years.
- Senior citizens will get 6.75% interest on SBI FDs of more than 3 years and less than 5 years.
- Senior citizens will now get 6.50% interest on FDs of 5 years to 10 years.
SBI reduced the interest rate on savings accounts
State Bank of India has reduced the interest rate on savings accounts by 5 basis points. The new interest rate issued by the bank is 2.65% per annum. Earlier, SBI used to give 2.70% interest on savings accounts. The new interest rates will be applicable on all types of savings accounts.
