SBI Revises fixed deposit interest rates

There is a piece of good news for SBI account holders. The largest public-sector bank (PSU) has decided to increase the fixed deposit (FD) interest rates, on Saturday.

The banks have been increasing the fixed deposit rates as the country is coming out of the pandemic. Recently, HDFC bank also announced a rise in its interest rates.

SBI announced the latest revision on its website. According to the notification, the interest rates have been increased for deposits ranging from a period of over one year to two years. The FD interest rates have been revised by 10 basis points or 0.10 per cent. Also, the interest rates are for deposits less than Rs 2 crore. Senior citizens will get an interest of 5.6 per cent, up 10 basis points from 5.5 per cent.

State Bank of India (SBI) offers its customers to make various types of fixed deposits. Customers can get various benefits under different schemes. The list of the schemes is mentioned below.

• SBI Term Deposit
  
• SBI Tax Saving Scheme
• SBI Fixed Deposit Investment Plan
• SBI Annuity Deposit Scheme
• SBI Wecare