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SBI Fixed Deposit Rates Enhanced In The Range 0.25% -1% W.E.F.19/08/2013

State Bank Of India – India’s leading Public Sector bank have revised fixed deposit as well as lending rates w.e.f 19/09/2013.

SBI have revised deposit rates in the range 0.25% -1%.

SBI Fixed Deposit Rates:

Tenure Old SBI FD Rates Revised FD Rates
7 Days -90 Days 6.50% 7.50%
91 Days – 179 Days 6.50% 7.50%
180 Days – 210 Days 6.50% 6.80%
211 Days < 1Year 6.50% 7.50%
1 Yr -10 Yrs 8.75% 9%

Senior citizens to get higher interest rate of 0.25% for a period of one year and above only.

For period up to one year same rates applicable for senior citizens.

SBI to charge premature withdrawal penalty of 0.50% of contract period from general depositors (Except that for SBI Staff and SBI pensioners).

Quarterly Policy decision from Reserve Bank Of India is due tomorrow on 20/09/2013 and its surprising that SBI enhanced Deposit and lending rates just one day before the policy announcement.

Category: Fixed Income


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