Finance
The State Bank of India (SBI) has raised interest rates on certain fixed deposits (FDs) by up to 0.5 per cent with immediate effect.
The interest rate on deposits maturing in 7 to 45 days has been increased by the bank from 3% to 3.50%.
Interest rates on a 46-day to 179-day tenure were increased by SBI from 4.50 percent to 4.75 percent.
Additionally, the bank increased the interest rate from 5.25 percent to 5.75 percent on a 180-day to 210-day tenure.
The interest rate on FDs aging 211 days to less than a year has increased from 5.75 percent to 6 percent.
The interest rate on deposits maturing in three to less than five years has been raised from 6.50 percent to 6.75 percent. There has been no change in the other tenure rates.
Senior citizens are eligible for a rate of interest of 7.60 percent in the case of the Amrit Kalash particular tenor scheme of “400 days” at a rate of interest of 7.10 percent starting on April 12, 2023. The program will last through March 31, 2024.
Source:IANS
