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HomeEconomySBI raises Fixed Deposit interest rates

SBI raises Fixed Deposit interest rates

Last week, economists at country's largest lender SBI had also said that the RBI may go for a status quo this time

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New Delhi: The State Bank of India has hiked the interest rates on fixed-term deposits by up to 10 basis points.

The new rate, which is effective from 30 July, is applicable on retail deposits below Rs 1 crore. Under the revised rate structure, the deposits for 1 year to 2 years will now accrue 6.7% as against 6.65% earlier.

For the senior citizens, the new rate is 7.2% from 7.15% earlier. For the investments from 2 years to 3 years, the interest rate is revised to 7.3% from 7.15%.

“The proposed rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. The interest rates on “SBI Tax Savings Scheme 2006(SBITSS)” Retail Deposits and NRO deposits shall be aligned as per the proposed rates for domestic retail term deposits. However, NRO deposits of Staff are not eligible for additional 1% interest otherwise applicable to staff domestic retail deposits, these rates of interest shall also be made applicable to domestic term deposits from Cooperative Banks,” SBI said in a statement.

Revised SBI FD interest rates people below 60 years

Tenors Existing for Public w.e.f. 28.05.2018 Revised For Public w.e.f. 30.07.2018
7 days to 45 days 5.75 5.75
46 days to 179 days 6.25 6.25
180 days to 210 days 6.35 6.35
211 days to less than 1 year 6.40 6.40
1 year to less than 2 years 6.65 6.70
2 years to less than 3 years 6.65 6.75
3 years to less than 5 years 6.70 6.80
5 years and up to 10 years 6.75 6.85

Revised SBI FD interest rates for senior citizens

Tenors Existing for Senior Citizens w.e.f. 28.05.2018 Revised for Senior Citizens w.e.f. 30.07.2018
7 days to 45 days 6.25 6.25
46 days to 179 days 6.75 6.75
180 days to 210 days 6.85 6.85
211 days to less than 1 year 6.90 6.90
1 year to less than 2 years 7.15 7.20
2 years to less than 3 years 7.15 7.25
3 years to less than 5 years 7.20 7.30
5 years and up to 10 years 7.25 7.35

 

The SBI FD interest rate revision comes ahead of RBI’s bi-monthly monetary policy announcement. The monetary policy committee commences its three-day meeting on today and will announce its resolution on 1 August.

After the last review in June, when the RBI hiked rates by 0.25%, and data releases showing hardening in inflation, many analysts had voted for a rate hike. But the divide on the call seems to be coming out now as the review date nears. Last week, at country’s largest lender SBI had also said that the RBI may go for a status quo this time.

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Europeans maimed natives in their colonies- wiped off populations after populations- employing the most brutal methods but when war came knocking on their door, it suddenly became about the world and humanity and peace and fundamental rights. Nah, that doesn't settle right.

@shabdtweets Makes sense when you consider that the very idea of universal human rights was used to justify colonialism. "Humans everywhere should be/are same> but some humans have not attained the level of civilization that Europeans have> Hence it is our duty to bring them up to our level"

मनरेगा में कांग्रेस सरकार ने घोटाला किया। CAG द्वारा किए गए आॅडिट में घोटाला उजागर हुआ कांग्रेस को इसका जबाव देना चाहिए। घोटाला किया कांग्रेस और दोषारोपण दूसरों पर : वित्तमंत्री @nsitharaman
@PMOIndia
@iSinghApurva

आज #KashiVishwanathCorridor के भव्य आयोजन के कार्यक्रम को कवर करने और सोशल मीडिया पर व्यापक प्रचार प्रसार हो इसकी व्यवस्था सम्बन्धी बैठक में उत्तर प्रदेश सह प्रभारी श्री @sunilozabjp जी का मार्ग दर्शन मिला

व्यवस्था प्रमुख होने के नाते टीम के सम्पूर्ण समर्पण का आश्वासन दिया

4

#LeftRightCentre | "India has the data for vaccination in children, which they have been sitting on for quite some time; hope the data analysis will be completed soon and vaccines rolled out": Dr V Ravi, Genome Sequencing Officer, on #CovidVaccines for children.

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