SBI has revised the interest rates of its retail domestic term deposits below Rs 1 crore with effect from 28 November, 2018.
Are you an SBI customer and looking to park your funds in the fixed deposits (FDs) of any bank offering good returns? Here is good news for you. The State Bank of India, the nation’s largest bank, has revised the interest rates of its retail domestic term deposits below Rs 1 crore with effect from 28 November, 2018.
However, not everyone will be happy as this time FD rates have been revised only for select tenures, for both the general public and senior citizens — that too by up to 10 bps only. Earlier the bank had revised the interest rates of both its retail and bulk term deposits on 30th July, 2018.
With the latest revision in rates, retail domestic term deposits (below Rs 1 crore) of 1 year to less than 2 years will now provide 6.80% interest as against 6.70% earlier, while retail term deposits of 2 years to less than 3 years will now earn 6.80% interest as against 6.75% earlier.
For senior citizens, while term deposits of 1 year to less than 2 years will fetch 7.30% interest as against 7.20% earlier, term deposits of 2 years to less than 3 years will now earn 7.30% interest as against 7.25% earlier.
Here is a look at the latest interest rates of term deposits of SBI.
Revision in Interest Rates On Retail Domestic Term Deposits (Below Rs 1 Cr) w.e.f. 28.11.2018:
(All figures in % per annum)