SBI cuts fixed deposit (FD) rates for second time in a month
State Bank of India or SBI, India's biggest Bank, has cut interest rates on fixed deposits or FDs for second time in a month. SBI fixed deposits between 5 years and up to 10 years will now fetch 5.9% from 6% earlier. SBI said senior citizens will continue to get 50 basis points higher interest rates than offered to general public. SBI latest FD rates for general public 7 days to 45 days - 4% 46 days to 179 days - 5% 180 days to 210 days- 5.5% 211 days to less than 1 year - 5.5% 1 year to less than 2 year- 5.9% 2 years to less than 3 years - 5.9% 3 years to less than 5 years - 5.9% 5 years and up to 10 years - 5.9% SBI latest FD rates for senior citizens 7 days to 45 days - 4.5% 46 days to 179 days - 5.5% 180 days to 210 days- 6% 211 days to less than 1 year - 6% 1 year to less than 2 year- 6.4% 2 years to less than 3 years - 6.4% 3 years to less than 5 years - 6.4% 5 years and up to 10 years - 6.4% SBI said the new FD rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits.
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