SBI Hikes Fixed Deposit Rates By Up To 25 bps

SBI Hikes Fixed Deposit Rates By Up To 25 bps

In a span of just 2 months, the state-run lender has again hiked rates on bank FDs by up to 25 basis points. The new rates are effective from May 28, 2018. For a select 4 maturities, the lender has raised deposit rates for deposits below Rs. 1 crore.

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SBI Hikes Fixed Deposit Rates By Up To 25 bps
SBI Hikes Fixed Deposit Rates By Up To 25 bps

It is to be noted that last time the rates were hiked in March effective March 28, 2018. Also some revisions have also been made in case of bulk deposits between Rs. 1 crore and Rs. 10 crore and those over Rs. 10 crores.

Maturity term Previous interest rate New rates with effect from 28/05 Revised return for Senior citizens
7 days to 45 days 5.75 5.75 6.25
1 year to less than 2 years 6.40 6.65 7.15
2 years to less than 3 years 6.6 6.65 7.15
3 to less than 5 years 6.7 6.7 7.2
5 years and upto 10 years 6.75 6.75 7.25
Source by goodreturns
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