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State Bank Of India :Interest Rate Rises on Fixed Deposits, Check Latest Rates Here

News World India | 0
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| November 28 , 2018 , 15:19 IST

Just a week before the central bank's monetary policy review, country’s largest bank SBI or State Bank of India increased fixed deposit (FD) rates by 5-10 basis points (bps) for various maturity periods.

The new rates will be applicable from November 28, 2018, and for FDs below Rs 1 crore.

According to the revised rates, SBI is offering 6.8% interest rate on FDs with a maturity period of one to two years, as compared to 6.7% earlier. The interest rate for senior citizens also goes up to 7.30% on SBI FDs with tenure between one year and two years, from 7.2% earlier.

SBI has kept interest rate unchanged for FDs with other maturity tenures. SBI offers FDs across a wide spectrum of maturity, starting from seven days to 10 years.

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SBI last hiked FD rates in July where it increased interest rates by 5-10 bps for various tenors. Before SBI, major banks like CICI Bank and HDFC Bank hiked their rates.

SBI fixed deposit latest rates: