Diwali bonanza: SBI hikes FD rates by up to 80 bps. Check new rates here

SBI FD new rates for the general category:

SBI hiked the interest rate by the highest 80 basis points on tenures of 211 days to less than 1 year — to 5.50% with effect from October 22, compared to the current 4.70%.

Further, the bank hiked interest rates by 60 basis points to 5.25% on FDs maturing from 180 days to 210 days compared to the currently offered 4.65%. A similar hike has been made on 2 years to less than 3 years tenures to 6.25% from the current 5.65%.

The rate is increased by 50 basis points to 4.50% on 46 days to 179 days tenures from the current 4%, while on 1 Year to less than 2-year tenures — a similar hike has been made to 6.10% from the current 5.60%.

On the longer tenures, SBI hiked the rate by 30 basis points to 6.10% on 3 years to less than 5 years tenures from 5.8%, and by 25 basis points to 6.10% on 5 years and up to 10 years tenures from 5.85%.

The rate is unchanged at 3% on 7 days to 45 days tenures.

SBI FD new rates to senior citizens:

At maximum, a senior citizen will get to earn a 6.90% rate on 5 years and up to 10 years tenures — higher than 25 basis points from the current 6.65%. However, the highest hike is made on 211 days to less than 1-year tenures by 80 basis points to 6% from the currently offered 5.20%.

A 6.60% rate is offered on 3 years to less than 5 years tenures to senior citizens — higher than 30 basis points from the 6.30% rate.

While a 50 basis points hike each is provided on FDs for 2 years to less than 3 years tenures to 6.75% from the current 6.15%; on 1 Year to less than 2-year tenures to 6.60% from current 6.10%, and on 46 days to 179 days tenures to 5% from 4.5%.

The rate is unchanged at 3.50% on 7 days to 45 days tenures.