SBI rises term deposit rates by 0.15% - 1%

13 Dec 2022 , 02:16 PM

SBI has increased interest rates on domestic term deposits, including bulk deposits, by 15-100 basis points starting today. The 180—210 day period covered by the 100 basis point increase has a revised rate of 5.5% per year as opposed to the prior rate of 4.5 % per year. According to the rate card on the SBI website, retail deposits up to Rs 2 crore in the same category maintained their 5.25 % rate.

SBI stated that it would pay 4.25 %, an increase from 3.5%, for bulk deposits between 7 and 45 days. A rate of 6.5 %, up from 6.0 %, will apply to bulk deposits with a maturity of one year to less than two years. There will be a 5.75 % rate instead of the previous 5.25 % for two to less than three years. 5.75 % is the rate for three to less than five years.

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