• by Isha Adhikari
• 14th Sep 2020

FD Rates Revised by SBI; Latest FD Rates Here

State Bank of India (SBI) has revised interest rates on its fixed deposits (FDs). SBI pulled the interest rates on select maturities, with effect from 10 September. The bank has slashed the interest rates on fixed deposits (FDs) for 1 year to less than 2 year by 20 basis points (bps). The proposed rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. SBI had earlier revised interest rates on fixed deposits on 27 May.

SBI FD interest rates effective from 10 September for the general public are:

7 days to 45 days - 2.9%

46 days to 179 days - 3.9%

180 days to 210 days - 4.4%

211 days to less than 1 year - 4.4%

1 year to less than 2 years - 4.9%

2 years to less than 3 years - 5.1%

3 years to less than 5 years - 5.3%

5 years and up to 10 years - 5.4%

SBI latest FD interest rates for senior citizens effective 10 September:

SBI offers senior citizens’ an additional 50 bps interest rate across all tenors. After the latest revision, senior citizens will get 3.4% to 6.2% on FDs maturing in 7 days to 10 years.

7 days to 45 days - 3.4%

46 days to 179 days - 4.4%

SBI special FD scheme for senior citizens: 'SBI Wecare' Deposit for Senior Citizens:

A special “ SBI Wecare" Deposit for Senior Citizens introduced in the Retail TD segment in which an additional premium of 30 bps (over & above the existing 50 bps) will be paid to Senior Citizen’s on their retail TD for '5 Years and above' tenor only. "SBI Wecare" deposit scheme stands extended till 31st December 2020.