For the second time in the month, State Bank reduced the interest rate on term deposits, the change is applicable from today
New delhi ; State Bank of India announced on Wednesday a reduction of 0.40 per cent in the interest rate on all fixed deposit schemes. These interest rate changes have come into effect from 27 May. SBI will now get interest of 2.9% on the FD of 7 days to 45 days. At the same time, on a term deposit of 46 days to 179 days, the bank will pay interest at the rate of 3.9%. FDs of more than 180 years and less than one year will now get interest at the rate of 4.4 percent, while on FDs of one year to three years, the bank is paying interest at the rate of 5.1 percent.
The bank will pay interest to the general depositors (excluding senior citizens) at a fixed rate of less than two crore rupees from May 27 onwards.
7 days to 45 days – 2.9%
46 days to 179 days – 3.9%
180 days to one year – 4.4%
1 year to three years – 5.1%
3 years to 5 years – 5.3%
Five years to 10 years – 5.4%