SBI RD Interest rates: SBI has increased RD rates (Indicative picture)
For regular depositors, the rate of SBI RD is fixed from 5.3 to 5.5 percent. Its duration ranges from 12 months to 10 years. If senior citizens invest in SBI RD for the same period, they will get the benefit of additional 50 basis points interest.
The country’s largest public sector bank State Bank of India (SBI) There is good news for the customers. State Bank Fixed Deposit (FD Rates) as well as recurring deposit (RD) rates have also been increased. Recently FD rates were increased. After that SBI has also increased the rates of RD. The new interest rates of RD are applicable from June 14, 2022. In RD, the customer has to deposit a fixed amount every month. Its duration is also fixed. In the end, a lump sum amount is added along with the interest and the principal amount. It is a safe investment instrument as the government decides and announces its rates. The new rates of SBI RD have gone up to 5.50 percent for general depositors and 6.30 percent for senior citizens.
For regular depositors, the rate of SBI RD is fixed from 5.3 to 5.5 percent. Its duration ranges from 12 months to 10 years. If senior citizens invest in SBI RD for the same period, they will get the benefit of additional 50 basis points interest. RDs with tenures ranging from S years to less than 2 years have been increased by 20 basis points and the new rate has been increased to 5.35 percent. Earlier the interest on RD of this period was 5.10 percent. The interest rate for RDs ranging from 2 years to less than 3 years has increased from 5.20 to 5.35 percent. 5.45 percent interest is being given on RDs of 3 years to 5 years and 5.50 percent on recurring deposits of 5 years to 10 years.
Here is the list of new interest rates
Talking about the deposit amount of less days, then even before the RD of 7 to 45 days, 2.90 and even today the same interest is getting. Interest is getting 3.90 percent on RD of 46 to 179 days, 4.40 percent on RD of 180 to 210 days. Earlier interest on RD from 211 days to less than 1 year was 4.40 which has been increased to 4.50 percent. 5.30 percent interest is being given on RDs ranging from one year to less than 2 years.
As far as senior citizens are concerned, no change has been made on deposits from 7 days to 210 days. Earlier, 4.90 percent interest was available on RD from 211 days to less than 1 year, now it has been increased to 5.10 percent. RD of 1 year to less than 2 years is getting 5.80 percent interest instead of 5.60. On RD of 2 years to less than 3 years, 5.85 percent instead of 5.70 percent, 5.95 percent on RD from 3 years to less than 5 years and 6.30 percent on RD from 5 years to 10 years.
Interest has increased on FD
Earlier, State Bank had increased the rates of term deposits for its customers. The FD of public and senior citizens has been increased by 20 basis points. The new FD rates have come into effect from June 14, 2022. Ever since the Reserve Bank has increased the repo rate, the rates of term deposits have been continuously increasing.
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