Interest rate hiked by 75 basis points.
SBI has increased the interest rate for fixed deposits by up to 75 basis points. The Reserve Bank has recently increased the repo rate by 50 basis points. In such a situation, banks are not only increasing the interest rate for the loan, but also giving more return on your deposited capital.
SBI, the country’s largest public sector bank, has increased the interest rate for term deposits by 50 to 75 basis points. The Reserve Bank has recently increased the repo rate by 50 basis points. In such a situation, banks are not only increasing the interest rate for loans, but have also started giving higher returns on your deposits. According to the information available on SBI’s website, interest rate on retail domestic term deposits of less than 2 crores from today. Change has been made. The interest rate has been retained at 2.90 per cent for 7-45 days. The interest rate of 3.90 percent for 46-179 days, 4.40 percent for 180-210 days has been retained. The interest rate has been increased by 20 basis points to 4.60 per cent for 211-1 years. The interest rate on 1-2 year term deposits has been increased by 20 bps to 5.30 per cent and for 2-3 year term deposits by 15 basis points to 5.35 per cent. The interest rate has been retained at 5.45 per cent for 3-5 years and 5.50 per cent for 5-10 years.
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Source: www.tv9hindi.com
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