SBI hikes interest rates on FDs by up to 0.5%

New Delhi, December 27

The State Bank of India (SBI) has raised interest rates on certain fixed deposits (FDs) by up to 0.5% with immediate effect.

The bank has hiked the interest rate on deposits maturing between 7 days and 45 days to 3.50% from 3%. SBI raised the interest rate on tenure of 46 days to 179 days to 4.75% from 4.50%. The bank has also hiked the interest rate on tenure of 180 days to 210 days from 5.25% to 5.75%. For FDs maturing 211 days to less than one year, the interest rate has been raised to 6% from 5.75%. On deposits maturing between three years to less than five years, the interest rate has been increased to 6.75 from 6.50%. Other tenure rates have been left unchanged. In the case of the Amrit Kalash specific tenor scheme of ‘400 days’ at rate of interest of 7.10% w.e.f. April 12, 2023, senior citizens are eligible for a rate of interest of 7.60%. The scheme will be valid till March 31, 2024. — IANS