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Friday, May 27, 2022

SBI Deposit Rate: A gift from the bank to the customers, will get more interest on these special FDs

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SBI Deposit Rate: State Bank of India (SBI) has given a gift to its customers. Actually, the bank has increased the interest rates on domestic bulk fixed deposits (FDs) of Rs 2 crore and above. By uploading the information of this change on the website of SBI, it has been said that the new rates are effective from Tuesday, May 10, 2022.

However, after the increase on Tuesday, interest will be given only at the rate of three per cent on deposits with maturity from seven days to 45 days, as the bank has not increased the interest on this bracket. On the other hand, FDs with maturity from 46 days to 149 days will now be given interest at the rate of 50 basis points more i.e. 3.5 percent.

will get so much interest

Apart from this, after the new change, 3.50 percent interest will also be given on FDs with a period of 180 days to 210 days. Apart from this, 3.75 percent on FDs of more than 211 days and less than one year, while FDs of more than one year and less than two years will get interest at the rate of four percent.

According to the report, SBI has increased the interest rate on FDs maturing in one year by 40 basis points from 3.6 percent to four percent. On the other hand, FDs ranging from two years to less than three years will get interest at the rate of 4.25 per cent instead of 3.6 per cent.

Senior citizens benefit

Apart from this, interest at the rate of 3.6 per cent will be available on FDs maturing from three years to less than five years and 4.5 per cent on deposits with tenures ranging from five years to ten years. Senior citizens will get an additional benefit of 50 basis points.

loan of this bank is expensive

Bank of Baroda has made the loan costlier by 0.1 percent. According to the bank, this rate will be applicable from May 12 on loans with different tenures of MCLR. The one-year MCLR will now increase from 7.35 to 7.40 percent.

Whereas the rate of MCLR for three to 6 months will increase from 7.15 to 7.25 percent. This bank recently made the loan expensive. Prior to that in April, it had made it cheaper.

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