Business News | SBI raises interest rates on long-term FDs by up to 15 basis points
New Delhi [India]Feb 16 (ANI): The country’s largest lender, the State Bank of India (SBI), has raised fixed deposit (FD) interest rates by up to 15 basis points or 0.15% effective of February 15, 2022.
The interest rate on the FD for a term of three years to less than five years was raised to 5.45% from 5.30%. For the elderly, the rate was increased to 5.95% from 5.80%, according to information posted on the SBI website.
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The interest rate on FD for a duration of two years to less than three years was increased by 10 basis points to 5.20% against 5.10% previously. For the elderly, the rate was increased to 5.70% from 5.60% previously.
For a period of five to 10 years, the interest rate was raised to 5.50% against 5.40% previously. For the elderly, the rate went from 6.20% to 6.30%.
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These rates are applicable for FDs worth less than Rs 2 crore. SBI left interest rates on FDs unchanged for up to two years. (ANI)
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