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SBI Hikes Fixed Deposit Interest Rates; What Post Offices Offer

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Post office fixed deposit interest rate varies according to tenures varying up to 5 years.SBI or State Bank of India, the largest lender of the country, recently hiked its fixed deposit or FD interest rates across various maturities.

The recent hike in interest rate for fixed deposit in SBI came just two days before the repo rate was hiked to 6.50 per cent in the latest RBI policy.

India Post or the Department of Post, which also offers banking services in the country, has the option of creating several deposit accounts, one of which is its time deposit or fixed deposit account.

Post office fixed deposit interest rate varies according to tenures varying up to 5 years.Given below is a comparison of fixed deposit or FD interest rates offered by SBI and India Post:Fixed deposit rates of SBI:The following SBI FD interest rates are applicable on retail fixed deposits (below Rs 1 crore) with effect from 30.07.2018:(All figures in % per annum)TenorsExisting for Public w.e.f.

28.05.2018Revised For Public w.e.f.

30.07.20187 days to 45 days5.755.7546 days to 179 days6.256.25180 days to 210 days6.356.35211 days to less than 1 year6.46.41 year to less than 2 year6.656.72 years to less than 3 years6.656.753 years to less than 5 years6.76.85 years and up to 10 years6.756.85 Latest SBI FD interest rates for senior citizens: The following SBI FD interest rates for senior citizens are applicable on retail fixed deposits (below Rs 1 crore) with effect from 30.07.2018:(All figures in % per annum)TenorsExisting for Senior Citizens w.e.f.

28.05.2018Revised for Senior Citizens w.e.f.

30.07.20187 days to 45 days6.256.2546 days to 179 days6.756.75180 days to 210 days6.856.85211 days to less than 1 year6.96.91 year to less than 2 year7.157.22 years to less than 3 years7.157.253 years to less than 5 years7.27.35 years and up to 10 years7.257.35 (: Need To Open A Recurring Deposit Account Compare Interest Rates Paid By Financial Institutions)Latest SBI FD interest rates for general public on fixed deposits between Rs 1 crore to Rs.

10 crore(All figures in % per annum)TenorsExisting w.e.f.

28.03.2018Revised w.e.f 30.07.20187 days to 45 days5.755.7546 days to 179 days6.76.25180 days to 210 days6.76.35211 days to less than 1 year6.756.41 year to less than 2 years76.72 years to less than 3 years6.756.753 years to less than 5 years6.656.85 years and upto 10 years6.256.85 Latest SBI FD interest rates for senior citizens on fixed deposits between Rs 1 crore to Rs.

10 crore(All figures in % per annum)TenorsExisting for Senior Citizen w.e.f 28.03.2018Revised for Senior Citizen w.e.f.

30.07.20187 days to 45 days6.256.2546 days to 179 days7.26.75180 days to 210 days7.26.85211 days to less than 1 year7.256.91 year to less than 2 years7.57.22 years to less than 3 years7.257.253 years to less than 5 years7.157.35 years and upto 10 years6.757.35 Latest SBI FD interest rates for general public on fixed deposits above Rs.

10 crore(All figures in % per annum)TenorsExisting w.e.f.

28.03.2018Revised w.e.f 30.07.20187 days to 45 days5.755.7546 days to 179 days6.76.25180 days to 210 days6.76.35211 days to less than 1 year6.756.41 Year to less than 2 year76.72 years to less than 3 years6.756.753 years to less than 5 years6.656.85 years and up to 10 years6.256.85 Latest SBI FD interest rates for senior citizens on fixed deposits above Rs.

10 crore(All figures in % per annum)TenorsExisting for Senior Citizen w.e.f 28.03.2018Revised for Senior Citizen w.e.f.

30.07.20187 days to 45 days6.256.2546 days to 179 days7.26.75180 days to 210 days7.26.85211 days to less than 1 year7.256.91 Year to less than 2 year7.57.22 years to less than 3 years7.257.253 years to less than 5 years7.157.35 years and up to 10 years6.757.35 (All the FD interest rates are from sbi.co.in)India Post FD interest ratesThe following interest rates are from indiapost.gov.in:PeriodRate1 yr.A/c6.60%2 yr.A/c6.7%3 yr.A/c6.90%5 yr.A/c7.40% Small finance banks' FD interest rates are much higher than what SBI and India Post offer.




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