Recently SBI(State Bank of India) announced a cut in retail fixed deposit or FD rates, by balancing adequate liquidity in the system. The new rates will be effective from 10th November. Many banks have been lowering their deposit rates after Reserve Bank of India or RBI cut deposit rates by a cumulative 135 basis points so far this year. As part of the latest rates revision, SBI will cut the interest rate of FD rates by 15 bps for maturity between one year to less than two years.SBI has also slashed interest rates on bulk deposits by 30-75 bps across tenors.The MCLR cut down by 5bps and now it is 8% from 8.5%.
The SBI Latest FD Rate Updates For General Public
7 days to 45 days 4.50%
46 days to 179 days 5.50%
180 days to 210 days 5.80%
211 days to less than 1 year 5.80%
1 year to less than 2 years 6.25%
2 years to less than 3 years 6.25%
3 years to less than 5 years 6.25%
5 years and up to 10 years 6.25%
The SBI latest FD rates for senior citizens
7 days to 45 days 5.00%
46 days to 179 days 6.00
180 days to 210 days 6.30
211 days to less than 1 year 6.30
1 year to less than 2 years 6.75
2 years to less than 3 years 6.75
3 years to less than 5 years 6.75
5 years and up to 10 years 6.75
