State Bank of India (SBI), the largest lender of the country, revised its fixed deposit (FD) interest rates on select maturities with effect from today, the lender said on its website, sbi.co.in. The rate of rise in SBI FD interest rates is between 0.05-0.10 per cent or 5-10 basis points. One basis point is equivalent to 0.01 per cent. SBI has hiked its fixed deposit interest rates on deposits below Rs. 1 crore. SBI hiked its FD interest rates ahead of the fifth bi-monthly monetary policy review outcome on December 5.
Given below are the latest SBI FD interest rates on deposits below Rs. 1 crore:
The interest rate payable to SBI staff and SBI pensioners is 1 per cent above the applicable rate, the lender said. The rate applicable to all senior citizens and SBI pensioners of age 60 years and above will be 0.50 per cent above the rate payable for all tenors to resident Indian senior citizens i.e. SBI resident Indian senior citizen pensioners will get both the benefits of staff (1 per cent) and resident Indian senior citizens (0.50 per cent).