Check the complete list of the revised interest rates on fixed deposits of SBI for an amount below Rs 2 crore.
The interest rate on FDs worth more than Rs 2 crore has been raised by the State Bank of India (SBI). This proclamation was made on December 15, 2021, and it went into effect on December 15, 2021.
New deposits and those whose accounts have matured will benefit from the increase in interest rate. Interest rates on FDs under Rs 2 crore have been fixed by SBI. The bank has decided to boost high-value deposits in the region of Rs 2 crore by 10 basis points based on domestic deposits.
The following is a list of SBI’s current FD rates for amounts less than Rs 2 crore:
- For regular consumers, FDs between 7 and 10 days range from 2.9 percent to 5.4 percent.
- Senior people will get a bonus of 500 basis points (bps) on their deposits.
- The two statements above will take effect on January 8, 2021.
- The benchmark lending rate, often known as the base rate, has been raised by 0.1 percent by India’s biggest lenders.
According to SBI’s website, the revised base rate has increased by 7.55 percent. The new rate will take effect on December 15, 2021, and will not impact loans taken out on or before January 1, 2019.
SBI’s current FD rates for general deposits are below 2 crore
General consumers will get 2.9 percent to 5.4 percent on SBI FDs with terms ranging from 7 to 10 years. Senior citizens will get an additional 50 basis points (bps) on their deposits. These tariffs will take effect on January 8, 2021.
- 2.9 percent for 7 days to 45 days,
- 3.9 percent for 46 days to 179 days,
- 4.4 percent for 180 days to 210 days, and
- 4.4 percent for 211 days to less than a year.
- 5% for a period of one to two years
- 5.1 percent for those aged 2 to 3 years;
- 5.3 percent for those aged 3 to 5 years.
- 5.4 percent during the next 5 to 10 years
The benchmark lending rate, often known as the base rate, has been raised by 0.1 percent by the country’s top lender. From December 15, 2021, the new rate will be in effect. The ruling will not impact people who took out a loan after January 1, 2019, but it will affect those who took out a loan before then.
