State Bank of India (SBI) has hiked the tenure interest rate on selected fixed deposits (FDs) by 80 basis points. According to the SBI website, FD interest rates range from 25 bps to 80 bps. The new interest rate will be applicable on fixed deposits of less than Rs 2 crore. The hike in interest rates on FDs is effective from October 22, 2022. The bank raised interest rates on all term retail term deposits by 20 basis points on October 15,2022. After two back-to-back hikes in a week, interest rates on FDs maturing in 211 days and less than a year jumped by 90 basis points What would be the returns on lower SBI FDs than Rs 2 crore?
SBI raised the interest rate on deposits of 46 days to 179 days from 4 per cent to 4.5 per cent. Similarly, FDs maturing between 180 days and 210 days, will bear interest at 5.25 per cent.
Previously, the interest rate for this period was 4.65 per cent. The bank raised interest rates on deposits maturing 211 days and less than one year from 4.70 per cent to 5.50 per cent by 80 basis points in 2013 increased from 4.6 per cent to 4.7 per cent by a basis of 10. The FD rate was recently hiked, the interest rate for this period rose by 90 basis points in a week . . . .
Interest rates on SBI retail and domestic deposits of less than one to two years have been hiked from 5.60 per cent to 6.10 per cent. For FDs maturing from two years to less than three years, the interest rate has been increased from 5.65 per cent to 6.25 per cent.
The interest rate on deposits maturing from three years to less than five years has been increased from 5.80 per cent to 6.10 per cent. Interest rates on FDs running from five to 10 years have increased .. .
SBI increases Senior Citizen FD interest rate
The bank has also increased interest rates on senior selected deposit tenures by 80 basis points for amounts less than Rs 2 crore. Let’s see how much interest senior customers will get on fixed deposits with SBI now.
For deposits with a maturity of between 46 days and 179 days, the interest rate will increase from 4.50 per cent to 5 per cent.
The interest rate on deposits maturing for three years and less than five years has been increased from 5.80 per cent to 6.10 per cent. Interest rates on FDs maturing for five to ten years were increased .. .
SBI increases senior FD interest rates
The bank has also increased the interest rate on senior selected deposit tenure by 80 basis points for amounts less than Rs 2 crore. Let us see how much interest senior customers will now get on fixed deposits with SBI.
For deposits with a maturity of between 46 days and 179 days, the interest rate will increase from 4.50 per cent to 5 per cent.
HDFC Bank FD Rate
The private sector lender offers fixed deposits or different term deposits with tenures ranging from 7 days to 10 years.The general interest rate for customers ranges from 3 percent up to 6.25 per cent. Interest rates for 7-day to 10-year senior plans range from 3.5 percent to 7.00 percent.
Seniors generally receive an additional interest rate of 0.50 percent per annum for terms ranging from 7 days to 5 years. Seniors are eligible for an additional rate of 0.75 percent per year for years over 5 years and 10 years.
All general and senior customers will be offered a reasonable rate of interest on the date and time of receipt by the bank. On November 8, 2022, the bank adjusted the interest rate.
ICICI Bank FD Rates
Private lender ICICI Bank offers various interest rates ranging from 3.00 per cent to 6.60 per cent per annum for various schemes, ranging from 7 days to 10 years. The bank revised the interest rate on November 16, 2022 for FDs below Rs 2 crore.
