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


India largest lender, the State Financial institution of India (SBI), on Saturday introduced that it has elevated rates of interest on mounted deposit (FD) by as much as 10 foundation factors or 0.10%.

In accordance with the SBI web site, the rate of interest on mounted deposits for tenure 1 yr to lower than 2 years has been elevated to five.1% from 5.0%. For senior residents the speed is elevated from 5.50% to five.60%. 

This rate of interest is relevant on FDs beneath 2 crore.

The brand new price is efficient from 15 January 2022.

The rates of interest on FD of different tenure stays unchanged. 

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

For FD of tenure two years to lower than three years, the rate of interest stands 5.10%. For tenure of three years to lower than 5 years the rate of interest is 5.30%. 

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