SBI FD interest rates slashed! Check all details of fixed deposit rates here as per sbi.co.in

SBI Online: The State Bank of India (SBI) has slashed long-term Fixed Deposit (FD) interest rates by 15 bps. Leaving SBI FD interest rates unchanged for the tenor less than one year, the largest Indian commercial bank has slashed the long-term SBI FD interest rates for one year to 10 years SBI FDs.The new SBI FD interest rates would be applicable from 10th January 2020.

According to the official website of the SBI — sbi.co.in — State Bank of India has slashed its highest FD interest rates from 6.25 per cent to 6.10 per cent. From 10th January 2020, SBI FD interest rates for tenor one year to less than two years, two years to less than the years, three years to less than five years and from five years to up to 10 years, new SBI FD interest rates would be 6.10 per cent instead of 6.25 per cent. This long-term SBI FD interest rates cut by 15 bps is applicable to the Senior Citizens also. For Senior Citizens SBI FD interest rates for one year to up to 10 years, the State Bank of India has cut down the FD interest rate by the same percentage point for the same tenor. From 10th January 2020, Senior Citizens will also get 15 bps lesser SBI FD interest rates. Now, they will get 6.60 per cent as SBI FD interest rates on tenor from one year to up to 10 yeas. currently, they were getting 6.75 per cent SBI FD interest rates for tenor one year to up to 10 years SBI FD.

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The interest rate payable to SBI Staff and SBI pensioners will be 1 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 to resident Indian senior citizens i.e. SBI resident Indian Senior Citizen Pensioners will get both the benefits of Staff (1 per cent) and resident Indian Senior Citizens (0.50 per cent).

See SBI FD interest rates below:

Source: sbi.co.in

The proposed rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. The interest rates on “SBI Tax Savings Scheme 2006(SBITSS)” Retail Deposits and NRO deposits shall be aligned as per the proposed rates for domestic retail term deposits. However, NRO deposits of Staff are not eligible for an additional 1 per cent interest otherwise applicable to staff domestic retail deposits, these rates of interest shall also be made applicable to domestic term deposits from Cooperative Banks.