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State Bank of India hikes fixed deposits interest rates

Mumbai: State Bank of India (SBI) has hiked its interest rates on fixed deposit (FD) by upto 10 basis points or 0.10%. The new interest rate will be effective from January 15, 2022.

Interest rate on fixed deposits for tenure 1 year to less than 2 years has been increased to 5.1% from 5.0%. For senior citizens the rate is increased from 5.50% to 5.60%. This interest rate is applicable on FDs below Rs 2 crore.

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The interest rates on FD of other tenure remains unchanged.


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