SBI Revises Base, MCLR, BPLR & Interest Rates On Fixed Deposits of Above Rs 2. Cr

According to its website, the country's largest lender, State Bank of India (SBI), has increased its Base Rate by 0.10 percent, or 10 basis points (bps). The new rate of 7.55 percent per year is effective from December 15, 2021. The bank had previously decreased the benchmark rate by 5 basis points to 7.45 percent in September. The bank's Benchmark Prime Lending Rate (BPLR) has also been changed to 12.30 percent p.a. with effect from December 15, 2021. Interest rates on fixed deposits of more than Rs. 2 crores have also been revised by the bank. According to the official website of the bank, there is a revision in interest rates on Domestic Bulk Term Deposits (Rs. 2 Cr and above) w.e.f. 15.12.2021.

SBI Domestic Bulk Term Deposits Interest Rates

The following table shows the modified interest rates on 'Domestic Bulk Term Deposits of Rs. 2 Cr and above.

Tenors	Revised Rates For Public w.e.f 15.12.2021	Revised Rates for Senior Citizen w.e.f. 15.12.2021
7 days to 45 days	3	3.5
46 days to 179 days	3	3.5
180 days to 210 days	3.1	3.6
211 days to less than 1 year	3.1	3.6
1 year to less than 2 years	3.1	3.6
2 years to less than 3 years	3.1	3.6
3 years to less than 5 years	3.1	3.6
5 years and upto 10 years	3.1	3.6
Source: Bank Website

SBI Fixed Deposit Interest Rates (Below Rs. 2 Cr)

SBI is offering the following rates on fixed deposits of less than Rs. 2 crores to regular and senior citizens as of January 8, 2021.

Tenors	Revised Rates For Public w.e.f. 08.01.2021	Revised Rates for Senior Citizens w.e.f. 08.01.2021
7 days to 45 days	2.9	3.4
46 days to 179 days	3.9	4.4
180 days to 210 days	4.4	4.9
211 days to less than 1 year	4.4	4.9
1 year to less than 2 year	5	5.5
2 years to less than 3 years	5.1	5.6
3 years to less than 5 years	5.3	5.8
5 years and up to 10 years	5.4	6.2
Source: Bank Website

SBI Marginal Cost Of Funds Based Lending Rate (MCLR)

SBI has also changed its MCLR (Marginal Cost Of Funds Based Lending Rate) starting December 15, 2021. The tenor-by-tenor MCLR as of December 15, 2021 is mentioned below.

Tenor	Existing MCLR (In %)	Revised MCLR (In %)
Over night	6.65	6.65
One Month	6.65	6.65
Three Month	6.65	6.65
Six Month	6.95	6.95
One Year	7	7
Two Years	7.2	7.2
Three Years	7.3	7.3
Source: Bank Website