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SBI cuts long-term fixed deposit (FD) rates. Check latest rates here

New Delhi: India’s largest commercial bank the State Bank of India (SBI) has announced a cut in retail fixed deposits of long-term FD rates. The latest FD rates on SBI deposits is effective from January 10. The bank has cut the FD rates by 15 basis points on long-term deposits maturing in 1 year to 10 years.

As per SBI, on deposits maturing in 7 days to 1 year, the rates have been kept unchanged. Earlier, the bank had cut the FD rates by 15 bps for maturity between one year to less than two years in the month of November.

For FDs maturing in 7 days to 45 days and 46 days to 179 days, SBI will give interest of 4.50% and 5.50%, respectively. For FDs maturing in 180 days to 210 days and 211 days to less than 1 year, the bank will give an interest rate of 5.80%. The bank has slashed the interest rate on deposits maturing in 1 year to 10 years. These deposits, which earlier fetched 6.25%, will now give 6.10% interest.

SBI latest FD rates for the general public:

7 days to 45 days 4.50%

46 days to 179 days 5.50%

180 days to 210 days 5.80%

211 days to less than 1 year 5.80%

1 year to less than 2 year 6.10%

2 years to less than 3 years 6.10%

3 years to less than 5 years 6.10%

5 years and up to 10 years 6.10%

Note that SBI offers senior citizens’ an additional 50 basis point interest rate across all tenures. For FDs maturing in 7 days to 45 days and 46 days to 179 days, SBI will now give 5.00% and 6.00%, respectively. For FDs maturing in 180 days to 210 days and 211 days to less than 1 year, SBI will give an interest rate of 6.30%. After the latest revision, SBI will give 6.60% interest to senior citizens for maturity between one year and 10 years.

SBI latest FD interest rates for senior citizens:

7 days to 45 days 5.00%

46 days to 179 days 6.00%

180 days to 210 days 6.30%

211 days to less than 1 year 6.30%

1 year to less than 2 year 6.60%

2 years to less than 3 years 6.60%

3 years to less than 5 years 6.60%

5 years and up to 10 years 6.60%

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