SBI expanded fixed deposit rates by up to 10 bps on select maturities: Check new rates

The State Bank of India (SBI) has expanded its fixed deposit rate of interest specific tenors with impact from 28 November 2018. The loan rates climb becomes effective a week in front of the every month meeting of RBI's monetary policy committee scheduled for December 5. The rate of interest has been hiked in the range of 5-10 basis points or 0.05 to 0.10 percent for fixed deposits below Rs 1 crore.

HIGHLIGHTS

SBI has expanded fixed deposit rates for FDs with a maturity period of 1-2 years

The rate of interest hike is applicable to FDs below Rs 1 crore

The move comes ahead of the fifth bi-monthly RBI meeting

Check fresh rates

After the latest revision, the SBI bank is now offering 6.80 percent rate of interest on those FDs which have a maturity period of two years; the previous rate was at 6.7 percent. The SBI FD interest rate with a maturity period of one or two years for senior citizens has also gone up to 7.30 percent.

Non-Resident Ordinary term deposits with effect from 28th November 2018*

Time period

Under Rs.1 Crore

Rs.1 Crore to 10 Crores

More than Rs.10 Crores

1 week - 45 days

5.75%

5.75%

5.75%

46 days - 179 days

6.25%

6.25%

6.25%

180 days - 210 days

6.35%

6.35%

6.35%

211 days - less than 1yr

6.40%

6.40%

6.40%

1yr to less than 2yr

6.80%

6.70%

6.70%

2yr to less than 3yr

6.80%

6.75%

6.75%

3yr & up to 5yr

6.80%

6.80%

6.80%

5yr & up to 10yrs

6.85%

6.85%

6.85%