State Bank of India (SBI) has (November 28) hiked interest rates on fixed deposits (FDs) with maturity periods ranging from one-two years and here is the new list of FD interest rates that the customers will be getting from now onward.
After the latest revision, the bank is now offering 6.80 per cent interest rate on those FDs which have a maturity period of one or two years; the previous rate was at 6.7 per cent. The SBI FD interest rate with a maturity period of one or two years for senior citizens has also gone up to 7.30 per cent.
Hike came after other major banks including ICICI Bank and HDFC Bank hiked rates.
The public lender said on its website that SBI FD interest rates have been increased by 0.05-0.10 per cent. A single basis point corresponds to 0.01 per cent. The lender also informed on its website that the change in FD interest rates will be applicable to all deposits below Rs 1 crore from today.