29 C
Guwahati
Saturday, June 15, 2024

SBI raises FD rate on select short-term maturity up to 75 bps

- Advertisement -
- Advertisement -

NEW DELHI, May 16: The country’s biggest lender State Bank of India (SBI) has hiked fixed deposit rate on select short-term maturity up to 75 basis points, a move likely to be followed by other lenders.

For term deposits of 46-179 days, the rate has been increased by 75 basis points to 5.50 per cent, as against the earlier 4.75 per cent, as per the revised figure posted on SBI website.

- Advertisement -

There has been a 25 basis point increase in the other two maturity buckets — 180-210 days and 211 days to less than 1 year, to 6 per cent and 6.25 per cent respectively.

The new rates on deposit less than Rs 2 crore are effective from May 15, 2024.

Senior citizens would be eligible for additional 50 basis points on the revised rates as per the norms, it said.

SBI has left interest rates unchanged on other maturity buckets beyond one year.

- Advertisement -

For fixed deposits above Rs 2 crore, the bank has increased interest rate on both short-term and long-term maturity.

For three maturity periods starting from 7 days till 210 days, the interest rate has been raised between 10 basis points and 25 basis points.

At the same time, longer duration term deposits starting one year till three years, will attract higher interest rates between 20 basis points and 25 basis points. (PTI)

 

- Advertisement -

 

 

 

 

 

 

- Advertisement -
The Hills Times
The Hills Timeshttps://thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
Latest news
- Advertisement -
Related news
- Advertisement -
10 Downsides Of Eating Noodles Superfood In Your Diet: 9 Incredible Health Benefits Of Guava 10 Unforgettable Monsoon Destinations In South India 7 Most Beautiful Islands To Visit In India This Summer Top 10 Tourist Places In India During Monsoon