State Bank of India (SBI), for some select maturity periods, has raised fixed deposit or FD rates. From January 8, the revised SBI rates on retail FDs of less than Rs 2 crores are effective. The bank has increased 10 basis points (bps) on fixed deposits (FDs) for 1 year to less than 2 years.
To fresh deposits and renewals of maturing deposits, the proposed rates of interest shall be made applicable. In September 2020, SBI revised interest rates on fixed deposits.
SBI FDs between seven to 45 days will now fetch 2.9 percent. Term deposits between 46 days to 179 days will give 3.9 percent. FDs of 180 days to less than one year will fetch 4.4 percent. Deposits with maturity between 1 year and up to less than 2 years will give 10 bps more now. These deposits will fetch an interest rate of 5 percent instead of 4.9 percent. FDs maturing in 2 years to less than 3 years will give 5.1 percent. FDs with 3 years to less than 5 years will offer 5.3 percent and term deposits maturing in 5 years and up to 10 years will continue giving 5.4 percent after the latest revision.
Here are the latest SBI interest rates on fixed deposit for general customers| Days | Interest rates |
| 7 days to 45 days | 2.9% |
| 46 days to 179 days | 3.9% |
| 180 days to 210 days | 4.4% |
| 211 days to less than 1 year | 4.4% |
| 1 year to less than 2 years | 5% |
| 2 years to less than 3 years | 5.1% |
| 3 years to less than 5 years | 5.3% |
| 5 years and up to 10 years | 5.4% |
Here are the latest SBI interest rates on fixed deposit for senior citizens customers
SBI provides an additional 50 bps interest rate to senior citizens' across all tenors. Senior citizens will get 3.4 percent to 6.2 percent on FDs maturing in 7 days to 10 years after the latest revision.| Days | Interest rates |
| 7 days to 45 days | 3.4% |
| 46 days to 179 days | 4.4% |
| 180 days to 210 days | 4.9% |
| 211 days to less than 1 year | 4.9% |
| 1 year to less than 2 years | 5.5% |
| 2 years to less than 3 years | 5.6% |
| 3 years to less than 5 years | 5.8% |
| 5 years and up to 10 years | 6.2% |