New Delhi: India's largest public sector lender State Bank of India (SBI) has announced Revision in Interest Rates On Retail Domestic term deposits (Below Rs. 2 crore) interest rates.
The revised interest rates on SBI Fixed Deposit is effective from 15 January 2022, SBI website said.
Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees Two Crore 'have been revised. The SBI FD revised interest rates are as follows: (All figures in % per annum)
| Tenors | Existing Rates for Public w.e.f. 08.01.2021 | Revised Rates For Public w.e.f. 15.01.2022 | Existing Rates for Senior Citizens w.e.f. 08.01.2021 | Revised Rates for Senior Citizens w.e.f. 15.01.2022 |
|---|---|---|---|---|
| 7 days to 45 days | 2.90 | 2.90 | 3.40 | 3.40 |
| 46 days to 179 days | 3.90 | 3.90 | 4.40 | 4.40 |
| 180 days to 210 days | 4.40 | 4.40 | 4.90 | 4.90 |
| 211 days to less than 1 year | 4.40 | 4.40 | 4.90 | 4.90 |
| 1 year to less than 2 year | 5.00 | 5.10 | 5.50 | 5.60 |
| 2 years to less than 3 years | 5.10 | 5.10 | 5.60 | 5.60 |
| 3 years to less than 5 years | 5.30 | 5.30 | 5.80 | 5.80 |
| 5 years and up to 10 years | 5.40 | 5.40 | 6.20 | 6.2 |
A special “ SBI Wecare” Deposit for Senior Citizens introduced in the Retail TD segment wherein an additional premium of 30 bps (over & above the existing 50 bps as detailed in the above table) will be paid to Senior Citizen’s on their retail TD for '5 Years and above' tenor only. "SBI Wecare” deposit scheme stands extended till 31 March 2022, said SBI.
The interest rate payable to SBI Staff and SBI pensioners will be 1.00% above the applicable rate. The rate applicable to all Senior Citizens and SBI Pensioners of age 60 years and above will be 0.50% above the rate payable for all tenors to resident Indian senior citizens i.e. SBI resident Indian Senior Citizen Pensioners will get both the benefits of Staff (1%) and resident Indian Senior Citizens (0.50%).
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