State Bank of India (SBI) has announced a cut in retail fixed deposits or FD rates. The latest FD rates on SBI deposits is effective from 10th January. The bank has cut the FD rates by 15 bps on long-term deposits maturing in 1 year to 10 years. On deposits maturing in 7 days to 1 year, the bank has kept the rates unchanged. Earlier, the bank had cut the FD rates by 15 bps for maturity between one year to less than two years in the month of November.

SBI latest FD rates for general public effective 10th January

For FDs maturing in 7 days to 45 days and 46 days to 179 days, SBI will give 4.50% and 5.50%, respectively. For FDs maturing in 180 days to 210 days and 211 days to less than 1 year, SBI will give an interest rate of 5.80%. The bank has slashed the interest rate on deposits maturing in 1 year to 10 years. These deposits, which earlier fetched 6.25%, will now give 6.10% interest. The bank has cut the interest rates on these deposits by 15 bps.

7 days to 45 days 4.50%

46 days to 179 days 5.50%

180 days to 210 days 5.80%

211 days to less than 1 year 5.80%

1 year to less than 2 year 6.10%

2 years to less than 3 years 6.10%

3 years to less than 5 years 6.10%

5 years and up to 10 years 6.10%

SBI latest FD interest rates for senior citizens effective 10th January

SBI offers senior citizens’ an additional 50 basis point interest rate across all tenures. For FDs maturing in 7 days to 45 days and 46 days to 179 days, SBI will give 5.00% and 6.00%, respectively. For FDs maturing in 180 days to 210 days and 211 days to less than 1 year, SBI will give an interest rate of 6.30%. After the latest revision, SBI will give 6.60% interest to senior citizens for maturity between one year and 10 years.

7 days to 45 days 5.00%

46 days to 179 days 6.00%

180 days to 210 days 6.30%

211 days to less than 1 year 6.30%

1 year to less than 2 year 6.60%

2 years to less than 3 years 6.60%

3 years to less than 5 years 6.60%

5 years and up to 10 years 6.60%

In other news, SBI has launched a scheme for its home loan customers, wherein it guarantees the refund of the principal amount if a builder fails to complete the project within the stipulated time. The scheme is applicable for apartment projects, wherein the SBI is the sole lender.

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