State Bank of India, the country's largest lender, on Saturday increased interest rates on fixed deposit (FD) by upto 10 basis points or 0.10 percent.
Interest rate on fixed deposits for tenure 1 year to less than 2 years has been increased to 5.1 percent from 5.0 percent.
For senior citizens, the rate is increased from 5.50 percent to 5.60 percent, as per data available with the SBI website. This interest rate is applicable on FDs below Rs 2 crore. The new rate is effective from January 15, 2022.
The interest rates on FD of other tenure remains unchanged. SBI offers the highest interest rate of 5.40 per cent on FD for tenure from 5-10 years. For senior citizen the interest rate on FD of tenure from 5 years and upto 10 years stands at 6.20 percent.
For FD of tenure two years to less than three years stands 5.10 percent. For tenure of 3 years to less than 5 years the interest rate is 5.30 percent.
(With ANI inputs)
