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SBI revises fixed deposit interest rates; new rates from Jan 8

Raises FD yield by 10 bps on FDs for one year to less than two years

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The State Bank of India (SBI) has revised its fixed deposit (FD) interest rates in select maturity tenor. The new rates will be applicable from January 8 on all retail FDs less than Rs 2 crore. 

India's largest lender has raised the FD yield by 10 bps on Fixed Deposits for one year to less than two years. The proposed SBI FD rates will be applicable on fresh deposits and renewed maturing deposits. 

Untitled design (23) Revision in interest rates on retail domestic term deposits (below Rs 2 crore)

After the latest revision, SBI FDs between 7 days to 45 days will now fetch 2.9 per cent, while term deposits between 46 days to 179 days will give 3.9 per cent. FDs of 180 days to less than one year will fetch 4.4 per cent. 

Untitled design (24) Revision in interest rates on domestic bulk term deposits—Rs 2 crore and above

Deposits with maturity between 1 year and up to less than 2 years will give 10 bps more now. These deposits will fetch an interest rate of 5 per cent instead of 4.9 per cent. FDs maturing in 2 years to less than 3 years will give 5.1 per cent. FDs with 3 years to less than 5 years will offer 5.3 per cent and term deposits maturing in 5 years and up to 10 years will continue giving 5.4 per cent.



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