state Bank of India (SBI) has increased interest rates on select Fixed deposit (FD) tenure up to 15 bps. According to the bank’s website, the increased rates are effective from August 13, 2022 and are applicable on FDs of less than Rs 2 crore. after adjustment, State Bank Of India Will now offer fixed deposit interest rates from 2.90% to 5.65% for general public and 3.40% to 6.45% for senior citizens.

Last time

The increased FD interest rates were in June 2022.

Latest SBI FD Rates

With effect from August 13, 2022, the bank has increased the interest rate for FD tenure of 180 days from 210 days to 4.55 percent. The interest rate has been increased from 5.30 per cent to 5.45 per cent for tenures ranging from 1 year to less than 2 years. SBI has increased the interest rate of 2 years to 5.50 per cent for tenures less than 3 years. For 3 years to less than 5 years, the rate has been increased to 5.60%. For tenures of 5 years and up to 10 years, the bank will now offer 5.65 per cent.

senior citizen

SBI offers interest rates between 3.40 per cent to 6.45 per cent for senior citizens with tenures ranging from 7 days to 10 years.

“The proposed rates of interest will be applicable on renewal of fresh deposits and mature deposits. “SBI Tax Saving Scheme 2006 (SBITSS)” Interest rates on retail deposits and NRO deposits will be aligned with the rates offered for domestic retail fixed deposits. However, NRO deposits of staff are not eligible for additional 1% interest otherwise applicable to staff domestic retail deposits, these rates of interest will also be applicable to domestic fixed deposits from co-operative banks,” the SBI website said.