NEW DELHI: The State Bank of India (SBI) on Monday hiked its fixed deposit (FD) rates of interest for select tenures.
Interest charges have been hiked in the range of five foundation points to 10 foundation points, which translates to a rise by means of 0.05 per cent to 0.1 per cent. The new rates of interest come into effect from July 30.
SBI, on its site, mentioned that it's going to offer an interest rate of 6.70 per cent for term deposits of 1 12 months to 2 years, up from the prevailing 6.65 per cent. For deposits between two to three years, the rate 6.65 per cent to six.75 per cent. For senior electorate, the interest rate has been hiked from 7.15 per cent to 7.20 per cent for FDs of tenure 1 to 2 years, whilst that for tenure of two to three years has been hiked from 7.15 per cent to 7.25 per cent.
These charges are just for deposits beneath 1 crore.
(All figures in % per annum, Image courtesy: www.sbi.co.in)
On bulk term deposits of brief tenures, the financial institution has slashed rates of interest. For deposits of quantities starting from Rs 1 crore to Rs 10 crore, the interest rate for FDs with tenure 1 to 2 years has been reduce from 7 per cent to six.70 per cent. In case of senior electorate, the rate has been slashed from 7.50 per cent to 7.20 per cent. Interest charges for deposits of Rs 1 crore to Rs 10 crore as follows:
(All figures in % per annum, Image courtesy: www.sbi.co.in)
Similarly, for deposits amounting above Rs 10 crore and with tenure of 1 12 months to 2 years, the rates of interest have been curtailed from 7 per cent to six.70 per cent. Interest charges for deposits of above Rs 10 crore as follows:
(All figures in % per annum, Image courtesy: www.sbi.co.in)
The rates of interest for fixed deposits in SBI had been closing revised on May 28.
The SBI inventory reacted definitely at the revised charges. At 2.12 pm, the inventory was once up 4.20 per cent at Rs 298.65 at the BSE.
Interest charges have been hiked in the range of five foundation points to 10 foundation points, which translates to a rise by means of 0.05 per cent to 0.1 per cent. The new rates of interest come into effect from July 30.
SBI, on its site, mentioned that it's going to offer an interest rate of 6.70 per cent for term deposits of 1 12 months to 2 years, up from the prevailing 6.65 per cent. For deposits between two to three years, the rate 6.65 per cent to six.75 per cent. For senior electorate, the interest rate has been hiked from 7.15 per cent to 7.20 per cent for FDs of tenure 1 to 2 years, whilst that for tenure of two to three years has been hiked from 7.15 per cent to 7.25 per cent.
These charges are just for deposits beneath 1 crore.
(All figures in % per annum, Image courtesy: www.sbi.co.in)
On bulk term deposits of brief tenures, the financial institution has slashed rates of interest. For deposits of quantities starting from Rs 1 crore to Rs 10 crore, the interest rate for FDs with tenure 1 to 2 years has been reduce from 7 per cent to six.70 per cent. In case of senior electorate, the rate has been slashed from 7.50 per cent to 7.20 per cent. Interest charges for deposits of Rs 1 crore to Rs 10 crore as follows:
(All figures in % per annum, Image courtesy: www.sbi.co.in)
Similarly, for deposits amounting above Rs 10 crore and with tenure of 1 12 months to 2 years, the rates of interest have been curtailed from 7 per cent to six.70 per cent. Interest charges for deposits of above Rs 10 crore as follows:
(All figures in % per annum, Image courtesy: www.sbi.co.in)
The rates of interest for fixed deposits in SBI had been closing revised on May 28.
The SBI inventory reacted definitely at the revised charges. At 2.12 pm, the inventory was once up 4.20 per cent at Rs 298.65 at the BSE.
SBI hikes fixed deposit interest rates for select tenures
![SBI hikes fixed deposit interest rates for select tenures]()
Reviewed by Kailash
on
July 30, 2018
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