The country’s largest bank, the State Bank of India (SBI) has changed the interest rates of fixed deposits (FD). SBI has increased the interest rate on FDs of more than one year and less than two years.
The bank has increased the interest rates on FDs for this period from 5 to 5.10%. Similarly, the interest rates for senior citizens has increased from 5.50 to 5.60%. The new interest rate has come into effect from January 15. These rates of interest are for FDs of less than Rs 2 crore.
No change in the interest rates of other tenures FDs
SBI has not changed the interest rate of other tenures FDs. SBI is offering the highest interest of 5.40% on FDs of 5-10 years tenor. The bank offers interest at the rate of 6.20% to senior citizens for this period.
How much interest is SBI paying on FD?
| Tenure | New Interest Rate (%) | Interest Rate for Senior Citizen (%) |
| 7 to 45 days | 2.90 | 3.40 |
| 46 to 179 days | 4.40 | 4.90 |
| 180 to 210 days | 4.40 | 4.90 |
| 211 to less than 1 year | 4.40 | 4.90 |
| 1 year to less than 2 years | 5.10 | 5.60 |
| 2 years to less than 3 years | 5.10 | 5.60 |
| 3 years to less than 5 years | 5.30 | 5.80 |
| 5 years to 10 years | 5.40 | 6.20 |
HDFC and Kotak Mahindra Bank changed FD interest rates
HDFC and Kotak Mahindra Bank have changed the interest rates of fixed deposits (FD). The rate has been changed for the amount less than Rs 2 crore. The new rates of both the banks have come into effect.
For You: HDFC FD Interest Rates Details!!
How much interest will you get on HDFC Bank FD now?
| Tenure | Rate of Interest (in %) | Interest Rate for Senior Citizen (in %) |
| 7-14 days | 2.50 | 3.00 |
| 15-29 days | 2.50 | 3.00 |
| 30-45 days | 3.00 | 3.50 |
| 46-60 days | 3.00 | 3.50 |
| 61-90 days | 3.00 | 3.50 |
| 91 days to 6 months | 3.50 | 4.00 |
| 6 months 1 day – 9 months | 4.40 | 4.90 |
| 9 months 1 day – less than 1 year | 4.40 | 4.90 |
| 1 year | 4.90 | 5.40 |
| 1 year 1 day – 2 years | 5.00 | 5.50 |
| 2 years 1 day – 3 years | 5.20 | 5.70 |
| 3 years 1 day – 5 years | 5.40 | 5.90 |
| 5 years 1 day – 10 years | 5.60 | 6.35 |
How much interest will you get on Kotak Mahindra Bank FD now?
| Tenure | Rate of Interest (in %) | Rate of Interest for Senior Citizen (in %) |
| 7 – 30 days | 2.50 | 3.00 |
| 31 – 90 days | 2.75 | 3.25 |
| 91- 120 days | 3.00 | 3.50 |
| 121 – 179 days | 3.25 | 3.75 |
| 180 days | 4.30 | 4.85 |
| 181 – 364 days | 4.40 | 4.90 |
| 365 – 389 days | 4.90 | 5.40 |
| 390 Days – 12 Months 25 Days | 5.00 | 5.50 |
| 391 days – less than 23 months | 4.75 | 5.25 |
| 23 Months | 5.00 | 5.50 |
| 23 months 1 day – less than 2 years | 5.10 | 5.60 |
| 2 years – less than 3 years | 5.15 | 5.65 |
| Above 3 years – 10 years | 5.30 | 5.80 |
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