SBI Pays These Interest Rates On Fixed Deposits

SBI Pays These Interest Rates On Fixed Deposits

State Bank of India or SBI offers a range of maturities for fixed deposit (FD) accounts. For retail domestic fixed deposits up to Rs. 2 crore, SBI pays interest rates to the tune of 4.50-6.40 per cent to the general public over a maturity period of seven days to 10 years, according to the bank’s website – sbi.co.in. The lender last revised its FD interest rates with effect from November 10, 2019. Currently, SBI offers retail domestic term deposits in eight options of terms, ranging from seven days to 10 years. (Also read: How Much SBI Charges For Non-Maintenance Of Minimum Balance)

Here’s all you need to know about SBI’s interest rates on fixed deposits (FDs):

SBI interest rate – retail domestic fixed deposits up to Rs. 2 crore

SBI pays the following interest rates on fixed deposits up to Rs. 2 crore with effect from November 10, 2019, according to the bank’s website:

Maturity period Revised interest rate
Public Senior citizen
Seven to 45 days 4.50% 5%
46 days to 179 days 5.50% 6%
180 days to 210 days 5.80% 6.30%
211 days to less than one year 5.80% 6.30%
One year to less than two years 6.25% 6.75%
Two years to less than three years 6.25% 6.75%
Three years to less than five years 6.25% 6.75%
Five years and up to 10 years 6.25% 6.75%

SBI interest rate – bulk domestic fixed deposits above Rs. 2 crore

SBI pays the following interest rates on domestic fixed deposits above Rs. 2 crore with effect from November 10, 2019, according to the bank’s website:

Maturity period Revised interest rate
Public Senior citizen
7 days to 45 days 4% 4.5%
46 days to 179 days 4.75% 5.25%
180 days to 210 days 5.25% 5.75%
211 days to less than 1 year 5.25% 5.75%
1 year to less than 2 years 5.25% 5.75%
2 years to less than 3 years 5.25% 5.75%
3 years to less than 5 years 5.25% 5.75%
5 years and upto 10 years 5.25% 5.75%

SBI provides slightly higher returns to senior citizen customers (4.5-7.10 per cent) compared to the general public.

Source:- ndtv

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