{"id":50906,"date":"2024-05-15T07:59:08","date_gmt":"2024-05-15T07:59:08","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/15\/latest-sbi-fd-rates-state-bank-of-india-raises-fixed-deposit-rates-by-up-to-0-75-check-list-india-business-news-times-of-india\/"},"modified":"2024-05-15T07:59:08","modified_gmt":"2024-05-15T07:59:08","slug":"latest-sbi-fd-rates-state-bank-of-india-raises-fixed-deposit-rates-by-up-to-0-75-check-list-india-business-news-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/15\/latest-sbi-fd-rates-state-bank-of-india-raises-fixed-deposit-rates-by-up-to-0-75-check-list-india-business-news-times-of-india\/","title":{"rendered":"Latest SBI FD rates: State Bank of India raises fixed deposit rates by up to 0.75%; check list | India Business News – Times of India"},"content":{"rendered":"
\"Latest<\/div>\n
Latest SBI FD rates: Effective May 15, 2024, the State Bank of India (SBI) has increased its fixed deposit (FD) interest rates for both retail fixed deposits below Rs 2 crore and for bulk deposits above Rs 2 crore.<\/p>\n

Latest SBI Fixed Deposit (FD) Interest Rates
<\/h3>\n<\/p>\n

For deposits below Rs 2 crore<\/span>
SBi has increased its fixed deposit rates by 75 basis points (bps) for deposits maturing between 46 days and 179 days, from 4.75% to 5.50%.For senior citizens, the rate rose from 5.25% to 6% for the same period.
For deposits maturing between 180 days and 210 days, the rate increased by 25 bps from 5.75% to 6% for general citizens.
Rates also increased by 25 bps for deposits maturing between 211 days and less than 1 year, from 6% to 6.25% for general citizens and from 6.50% to 6.75% for senior citizens.
ALSO READ | <\/span>Senior Citizens Savings Scheme vs Bank FDs: Interest rates, tax benefits, and deposit limits compared<\/a><\/p>\n

Latest SBI FD interest rates 2024<\/h2>\n<\/p>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
General Public<\/td>\nSenior Citizen<\/td>\n<\/tr>\n
Tenors<\/td>\nExisting Rates for Public w.e.f. 27\/12\/2023<\/td>\nRevised Rates for Public w.e.f. 15\/05\/2024<\/td>\nExisting Rates for Senior 27\/12\/2023<\/td>\nRevised Rates for Senior Citizen w.e.f. 15\/05\/2024<\/td>\n<\/tr>\n
7 days to 45 days<\/td>\n3.5<\/td>\n3.5<\/td>\n4<\/td>\n4<\/td>\n<\/tr>\n
46 days to 179 days<\/td>\n4.75<\/td>\n5.5<\/td>\n5.25<\/td>\n6<\/td>\n<\/tr>\n
180 days to 210 days<\/td>\n5.75<\/td>\n6<\/td>\n5.25<\/td>\n6.5<\/td>\n<\/tr>\n
211 days to less than 1 year<\/td>\n6<\/td>\n6.25<\/td>\n6.5<\/td>\n6.75<\/td>\n<\/tr>\n
1 Year to less than 2 years<\/td>\n6.8<\/td>\n6.8<\/td>\n7.3<\/td>\n7.3<\/td>\n<\/tr>\n
2 years to less than 3 years<\/td>\n7<\/td>\n7<\/td>\n7.5<\/td>\n7.5<\/td>\n<\/tr>\n
3 years to less than 5 years<\/td>\n6.75<\/td>\n6.75<\/td>\n7.25<\/td>\n7.25<\/td>\n<\/tr>\n
5 years and up to 10 years<\/td>\n6.5<\/td>\n6.5<\/td>\n7.50*<\/td>\n7.50*<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Source: SBI website as cited by ET <\/span>
For bulk deposits<\/span>
The bank increased interest rates by 25 basis points for bulk deposits with tenures ranging from 7 to 45 days, now at 5.25% for general citizens and 5.75% for seniors.
For general citizens with tenures between 46 days and 179 days, rates increased by 50 bps to 6.25%, while for seniors, it rose to 6.75%.
Rates for general citizens on tenures from 180 days to 210 days rose by 10 bps to 6.60%, and for seniors, it increased to 7.10%.
The bank also raised rates by 20 bps for tenures between 1 year and less than 2 years, now at 7%.
For tenures between 2 years and less than 3 years, rates increased to 7% for general citizens and 7.50% for seniors.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nGeneral citizen<\/td>\nSenior Citizen<\/td>\n<\/tr>\n
Tenors<\/td>\nExisting Rates for Public w.e.f. 27\/12\/2023<\/td>\nRevised Rates for Public w.e.f. 15\/05\/2024<\/td>\nExisting Rates for Senior Citizen w.e.f. 27\/12\/2023<\/td>\nRevised Rates for Senior Citizen w.e.f. 15\/05\/2024<\/td>\n<\/tr>\n
7 days to 45 days<\/td>\n5<\/td>\n5.25<\/td>\n5.5<\/td>\n5.75<\/td>\n<\/tr>\n
46 days to 179 days<\/td>\n5.75<\/td>\n6.25<\/td>\n6.25<\/td>\n6.75<\/td>\n<\/tr>\n
180 days to 210 days<\/td>\n6.5<\/td>\n6.6<\/td>\n7<\/td>\n7.1<\/td>\n<\/tr>\n
211 days to less than 1 year<\/td>\n6.75<\/td>\n6.75<\/td>\n7.25<\/td>\n7.25<\/td>\n<\/tr>\n
1 Year to less than 2 years<\/td>\n6.8<\/td>\n7<\/td>\n7.3<\/td>\n7.5<\/td>\n<\/tr>\n
2 years to less than 3 years<\/td>\n6.75<\/td>\n7<\/td>\n7.25<\/td>\n7.5<\/td>\n<\/tr>\n
3 years to less than 5 years<\/td>\n6.25<\/td>\n6.25<\/td>\n6.75<\/td>\n6.75<\/td>\n<\/tr>\n
5 years and up to 10 years<\/td>\n6<\/td>\n6<\/td>\n6.5<\/td>\n6.5<\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Source: SBI website as cited by ET<\/span><\/div>\n