SBI customers alert: Bank increases Interest rates on long-term fixed deposits - Check details

The country’s largest lender State Bank of India (SBI) has increased interest rates on fixed deposits (FDs) by up to 15 basis points or 0.15 per cent with effect from February 15, 2022.The interest rate on FD for tenure from three years to less than five years has been increased to 5.45 per cent from 5.30 per cent. For senior citizens, the rate has been increased to 5.95 per cent from 5.80 per cent, according to the information put on the SBI website.

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The interest rate on FD for tenure two years to less than three years has been increased by 10 basis points to 5.20 per cent from the earlier 5.10 per cent. For the senior citizens, the rate has been increased to 5.70 per cent from the earlier 5.60 per cent. For five years to 10 years tenure, the interest rate has been increased to 5.50 per cent from the earlier 5.40 per cent.

For senior citizens, the rate has been increased to 6.30 per cent from 6.20 per cent. These rates are applicable for FDs worth less than Rs 2 crore. SBI has left the interest rates on FDs for tenure up to two years unchanged. 

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