All You Need To Know About New Interest Rates On SBI Fixed Deposit

The development comes a week after the Reserve Bank Of India hiked the key repo rate by 50 bps at 4.9 per cent in an effort to tame inflation

The State Bank of India has hiked the interest rate of fixed deposits (FD) by up to 20 basis points (bps).

Changes effect from June 14, 2022, for deposits below Rs 2 crore for certain tenors 

According to the SBI website, the rates have been hiked for the FD term above 211 days.  

New SBI FD Interest Rate

The FD rates for the term ranging from 7 days to 45 days, 46 days to 179 days, and 180 days to 210 days, have remained unchanged at 2.90 per cent, 3.90 per cent, and 4.40 per cent, respectively.  

For the term ranging from 1 year to less than 2 years, FD rates have been hiked from 5.10 per cent to 5.30 per cent.  

For the term ranging from 2 years to less than 3 years, the rates have been hiked from 5.20 per cent to 5.35 per cent. 

Notably, for the term ranging from 3 years to less than 5 years and term ranging from 5 years and up to 10 years the rates have remained unchanged 

For Senior Citizens And SBI Pensioner

The term ranging from 211 days to less than 1 year, the rates have been hiked from 4.90 per cent to 5.10 per cent. 

Term ranging from 1 year to less than 2 year have been hiked from 5.60 per cent to 5.80 per cent. 

The rates for the term ranging from 2 years to less than 3 years have been hiked from 5.70 per cent to 5.85 per cent.