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SBI FD alert! Bank hikes interest rates on these fixed deposits, new rates effective from May 10 | Personal Finance News

SBI FD alert! Bank hikes interest rates on these fixed deposits, new rates effective from May 10 | Personal Finance News
Written by Arindam
SBI FD alert! Bank hikes interest rates on these fixed deposits, new rates effective from May 10 | Personal Finance News

New Delhi: SBI has announced revision in Interest Rates on Domestic Bulk Term Deposits (Rs. 2 Crores and above) with effect from May 10. The revised Interest rates on ‘Domestic Bulk Term deposits (Rs.2 Crore and above) will be as per following table as per the SBI website

Tenors Existing Rates For Public w.e.f. 10.03.2022 Revised Rates For Public w.e.f 10.05.2022 Existing Rates for Senior Citizens w.e.f. 10.03.2022 Revised Rates for Senior Citizen w.e.f. 10.05.2022
7 days to 45 days 3.00 3.00 3.50 3.50
46 days to 179 days 3.00 3.50 3.50 4.00
180 days to 210 days 3.10 3.50 3.60 4.00
211 days to less than 1 year 3.30 3.75 3.80 4.25
1 year to less than 2 years 3.60 4.00 4.10 4.50
2 years to less than 3 years 3.60 4.25 4.10 4.75
3 years to less than 5 years 3.60 4.50 4.10 5.00
5 years and upto 10 years 3.60 4.50 4.10 5.00

Note: All figures in percentage per annum

SBI further states, “The revised rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. The interest rates on NRO term deposits shall be aligned as per the rates for domestic term deposits. These rates of interest shall also be made applicable to domestic term deposits from Cooperative Banks.”

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Arindam

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