Big good news for crores of SBI customers from Diwali! Bank hikes FD rates

SBI FD Rates Increased: Festive season is going on in India. Today, the festival of Dhanteras (Dhanteras 2022) is being celebrated with great pomp across the country. After this the festival of Diwali (Diwali 2022) and Bhai Dooj 2022 will be celebrated. Diwali In this festive season, the country’s largest public sector bank i.e. State Bank of India (SBI FD Rates) has given great news to its customers. The bank has decided to increase its fixed deposit scheme below Rs 2 crore by 25 to 80 basis points. These new rates of the bank have become effective from today i.e. 22 October.

Earlier on October 15, 2022 too, the bank had increased its FD rates. The bank is offering interest rates ranging from 3.00% to 6.25% on FDs from 7 days to 10 years to ordinary citizens. At the same time, interest rates ranging from 3.50% to 6.90% are being offered by the bank to senior citizens in this period. If you are also planning to do FD in the bank, then we are giving you information about the interest rate available on its different time periods-

SBI is offering this interest rate to ordinary citizens on FD of less than 2 crores-

  • FD of 7 to 14 days – 3.50%
  • FD of 46 to 179 days – 5.00%
  • 180 to 210 days FD – 5.75%
  • FD of 211 days to less than 1 year – 6.00%
  • FD from 1 to 2 years – 6.60%
  • FD from 2 to 3 years – 6.75%
  • FD from 3 to 5 years – 6.60%
  • FD-6.90 for 5 to 10 years

SBI is offering this interest rate to senior citizens on FD of less than 2 crores-

  • FD of 7 to 14 days – 3.00%
  • FD of 46 to 179 days – 4.50%
  • FD of 180 to 210 days – 5.25%
  • FDs of less than 211 days to 1 year – 5.50%
  • FD from 1 to 2 years – 6.10%
  • FD of 2 to 3 years – 6.25%
  • FD from 3 to 5 years – 6.10%
  • FD-6.10 from 5 to 10 years

Many banks increased their interest rates-
Let us tell you that on 30 September 2022, the Reserve Bank of India has decided to increase its interest rates for the fourth time within five months. RBI’s repo rate has increased from 4.00% to 5.90%. RBI is continuously increasing its interest rates to curb rising inflation in the country.

After the hike in the repo rate, many banks like Punjab National Bank, Union Bank, ICICI Bank, Canara Bank, Bank of Maharashtra, Yes Many banks like Yes Bank, DCB Bank etc. have increased their FD rates.

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