SBI offers maximum interest rate of 5.40% on fixed deposit of 5 years and up to 10 years.SBI FD Interest Rates: State Bank of India (SBI), the country's largest lender, offers Retail Domestic Term Deposits or fixed deposits for various tenors with varied interest rates.
Tenors for State Bank of India's fixed deposit accounts start from a minimum of 7 days and go up to 10 years, according to information on State Bank of India's website https://sbi.co.in.
Currently, the country's largest bank offers interest rate starting from 2.9 per cent on fixed deposit of 7 days to 45 days and maximum interest rate of 5.40 per cent on fixed deposit of 5 years and up to 10 years, SBI noted on its website.
SBI offers an additional 0.5 per cent interest to senior citizens.
(Also Read:SBI Plans To Double Its Home Loan Portfolio In Next Five Years)Maturity PeriodInterest RatePublicSenior citizenSeven days to 45 days2.9%3.4%46 days to 179 days3.9%4.4%180 days to 210 days4.4%4.9%211 days to less than one year4.4%4.9%One year to less than two years5.0%5.5%Two years to less than three years5.1%5.6%Three years to less than five years5.3%5.8%Five years and up to 10 years5.4%6.2%(Source: sbi.co.in)The State Bank of India revised its interest rates on fixed deposits on January 8, 2021 and the rates mentioned above are on deposits not exceeding Rs 2 crore.(Also Read:SBI Cuts Annual Loan Growth Outlook Amid Weak Corporate Lending)The interest rate payable to SBI Staff and SBI pensioners will be 1.00 per cent above the applicable rate.
The rate applicable to all Senior Citizens and SBI Pensioners of age 60 years and above will be 0.50 per cent above the rate payable for all tenors, SBI said on its website.SBI fixed deposit holders can opt for receiving interest amount on monthly, quarterly, half-yearly or yearly basis, SBI added.