SBI hikes interest rates on short-term fixed deposits. Details here

For senior citizens, the interest rate on FD of tenure from five years and up to 10 years stands at 6.20% (REUTERS) — For senior citizens, the interest rate on FD of tenure from five years and up to 10 years stands at 6.20% **(REUTERS)**

1 min read . Updated: 15 Jan 2022, 03:26 PM IST Livemint

The new rate is effective from 15 January
SBI offers the highest interest rate of 5.40% on FD for tenure from 5-10 years

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India largest lender, the State Bank of India (SBI), on Saturday announced that it has increased interest rates on fixed deposit (FD) by up to 10 basis points or 0.10%.

According to the SBI website, the interest rate on fixed deposits for tenure 1 year to less than 2 years has been increased to 5.1% from 5.0%. For senior citizens the rate is increased from 5.50% to 5.60%.

This interest rate is applicable on FDs below ₹2 crore.

The new rate is effective from 15 January 2022.

The interest rates on FD of other tenure remains unchanged.

SBI offers the highest interest rate of 5.40% on FD for tenure from 5-10 years. .

For FD of tenure two years to less than three years, the interest rate stands 5.10%. For tenure of three years to less than five years the interest rate is 5.30%.

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