Top PSU lender State Bank of India (SBI) has revised the interest rates it offers on retail term deposits of up to Rs 2 crore, with effect from May 15.
Deposits with tenor of 211 days to less than a year will now offer 6.25 percent interest as against 6 percent earlier, while for senior citizens this has been raised higher to 6.75 percent.
Revision in Interest Rates on Retail Domestic Term Deposits (Below Rs. 2 crore) w.e.f. 15.05.2024 (Source: SBI website)
| Tenor | Existing Rates for General Public | Revised Rates for General Public (wef 15-05-24) | Existing Rates for Senior Citizens | Revised Rates for Senior Citizens (wef 15-05-24) |
| 46-179 Days | 4.75 | 5.50 | 5.25 | 6.00 |
| 180-210 Days | 5.75 | 6.00 | 5.25 | 6.50 |
| 211-less than one year | 6.00 | 6.25 | 6.50 | 6.75 |
This is being updated.
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