State Bank of India (SBI), the country's largest commercial bank, has adjusted interest rates on its fixed deposit scheme with effect from January 8, 2021. SBI FDs with maturities ranging from 7 to 45 days currently offer 2.9 percent interest, according to the most recent adjustment. Term deposits with terms ranging from 46 to 179 days will generate 3.9 percent. FDs with maturities ranging from 180 days to less than one year will offer 4.4 percent. Deposits with maturities ranging from one year to less than two years will now offer a 5% interest rate, whereas FDs maturing in two to three years will offer 5.1 percent.
SBI provides elderly people with an additional 50 basis points deposits maturing in 7 days to less than 5 years. And FDs maturing in 5 years and up to 10 years would offer senior citizens an additional 30 basis points. This means that senior citizens making a fixed deposit of five years to 10 years will get 80 basis points, this benefit is given under the SBI Wecare Deposit OR senior citizen special FD scheme of the bank. Senior people will now receive 3.4 percent to 6.2 percent on FDs maturing in 7 days to 10 years, according to the most recent adjustment.
SBI FD Rates 2021
Here are the most recent fixed deposit interest rates of SBI which are in effect from 8 January 2021 for deposits of less than Rs 2 Cr.
|Tenors||Regular FD Rates In %||Senior Citizen FD Rates In %|
|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|