This well-known bank of the country has increased the rate of FD, new rates have been implemented – STD10.NET

This well-known bank of the country has increased the rate of FD, new rates have been implemented

This well-known bank: State Bank of India, the country’s largest state-owned bank, has given important good news to millions of its customers. SBI has hiked interest rates on fixed deposits. The bank has increased FDs of less than one to two years by up to 10 basis points. The new rates are effective January 8, 2021.

The SBI said the rates have been applicable to retail FDs of less than Rs 2 crore with effect from January 8. It may be noted that interest rates were earlier revised on September 10. In which 7 days to 45 days FD will get interest at the rate of 2.9 percent. The 46-day to 179-day FD will earn interest at 3.9 per cent. FDs of less than 180 to 1 year will earn interest at 4.4 per cent. 211 days to 1 year FDs will earn interest at the rate of 3.9 per cent. FDs of less than 1 year to 2 years will earn 5% interest. FDs of less than 2 years to 3 years will earn 5.1 per cent interest. The 3 to 5 year FD will earn 5.3 per cent interest. The FD will earn 5.4 per cent interest for a period of 5 years and up to 10 years. This well-known bank

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According to the bank, senior citizens will get interest rates ranging from 3.4 per cent to 6.2 per cent on FDs that mature from 7 days to 10 years. The 7-day to 45-day FDs will earn interest at 3.4 per cent. While FDs will earn 6.2 per cent interest for a period of 5 years and up to 10 years. In addition different interest rates have been fixed for different periods.

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