State Bank of India (SBI) has once again given good news to its crores of customers. If your account is also in SBI, then this news is of your use. Once again the interest rate on Fixed Deposit (FD Interest Rates) has been increased by the bank. According to the updated information on the bank’s official website, SBI, the largest public sector bank, has increased the interest rate on deposits of Rs 2 crore and above.
The rates increased by the bank have become effective from Tuesday, May 10. However, the bank has not increased the interest rate on short term fixed deposits (7 to 45 days). 50 basis points interest has been increased by Banki on FDs maturing in 46 to 149 days. On the other hand, deposits of more than one year and less than two years have been increased by 40 basis points.
Highest interest on FDs of 5 to 10 years