Current Affairs Economy & Banking

Category : Economy & Banking

Country’s largest bank State Bank of India has increased fixed deposit or FD rates for some select maturity periods. According to the revised rates, SBI is offering 6.8%interest rate on FDs with maturity period of one to two years, as compared to 6.7%earlier. The interest rate for senior citizens also goes up to 7.30% on SBI FDs with tenure between one year and two years, from 7.2% earlier. Similarly, SBI has hiked interest rate on FDs with maturity period between two years and three years. SBI is now offering 6.80% as compared to 6.75% earlier. The interest rate for senior citizens also goes up to 7.30% on SBI FDs with tenure between two years and three years, from 7.25% earlier. SBI has kept interest rate unchanged for FDs with other maturity tenures.

Source: The Business Standard