Do you have any account in SBI or have the interest to invest your savings in SBI Fixed Deposits. SBI has released notification regarding the Fixed deposit Interest rates. New rates shall come effectively from 15 December 2021. If the Fixed Deposits are up to Rs. 2 Crore or approaching the limit of Rs. Crore new rates will be activated.
Customers who have secured less than Rs. 2 crores as Fixed Deposit don’t have to worry about anything as no change has been announced for that investment amount.
These changes have to comply with domestic term deposits and according to that bank has taken the decision to make changes in the fixed deposit interest rate and made an official announcement for new rates for high-value amounts. All the customers who have Fixed deposits of more than 2 crores will notice the change of 10 bps.
If the term of Fixed Deposit is between 7Days – 10 Years. It will be 2.9%-5.4%.
For the term of 7Days – 45Days FD rates will be 2.9%.
For the term of 46Days – 179Days FD rates will be 3.9%.
For the term of 180Days – 210Days FD rates will be 4.4%.
For the term of 211Days – 1year FD rates will be 4.4%.
For the term of 1year – less than 2year FD rates will be 5%.
For the term of 2year- less than 3year FD rates will be 5.1%.
For the term of 3year-less than 5year FD rates will be 5.3%.
For the term of 5year-more than 10 years, FD rates will be 5.4%.
After the improvements in rates, the benchmark lending rate has upgraded by 0.1%. The base rate has also improved to 7.55%.
If someone has subscribed to the loan since 2019 then the changes will not be applicable for them.