New Delhi: If your account is in the country’s largest bank State Bank of India ie SBI, then there is good news for you. In fact, SBI has announced to increase the interest rates of fixed deposits ie FD on Saturday. Recently, HDFC Bank of the private sector also increased the interest rates of FD.
Rates have increased on fixed deposits of this period
According to the SBI website, the bank has increased the interest rate on fixed deposits of one year or more and less than two years. The bank has increased the rate of interest on FDs of this period by 10 basis points i.e. 0.10 percent. Now SBI will pay 5.1 percent interest instead of 5 percent on fixed deposits maturing in one year or more and less than two years.
New rates effective from January 15, 2022
The new rates have become effective from Saturday (January 15, 2022). These rates of interest are for FDs of less than Rs 2 crore. At the same time, on FDs of one year or more and less than two years, senior citizens will now get 5.6 percent more instead of 5.50 percent. The special thing is that the bank has not made any change in the interest rate of other terms FDs.
