INSUBCONTINENT EXCLUSIVE:
India's largest bank SBI revises the interest rates applicable to fixed deposits (FDs) from time to timeFrom February 10, State Bank of
India (SBI) will pay interest rates to the tune of 4.5-6.5 per cent to customers on retail fixed deposits (FDs)
SBI - the country's largest bank by assets - currently offers eight maturity options for fixed deposits up to Rs 2 crore ranging from seven
With effect from February 10, SBI will pay interest at the rates of 4.5-6.0 per cent to the general public and 5-6.5 per cent to senior
Rs 2 crore:Maturity PeriodInterest Rate With Effect From February 10, 2020PublicSenior Citizen7 days to 45 days4.50%5.00%46 days to 179
days5.00%5.50%180 days to 210 days5.50%6.00%211 days to less than 1 year5.50%6.00%1 year to less than 2 year6.00%6.50%2 years to less than 3
years6.00%6.50%3 years to less than 5 years6.00%6.50%5 years and up to 10 years6.00%6.50%(Source: sbi.co.in)Interest Rates For Senior
CitizensOn fixed deposits up to Rs 2 crore, SBI pays a 50-basis-point (0.5 percentage point) higher return to senior citizens compared to
interest in retail fixed deposit accounts
applicable to fixed deposits from time to time
The interest is paid at the contracted rate irrespective of any change in the rates.Meanwhile, State Bank of India (SBI) has also lowered
its marginal cost of funding-based lending rates (MCLR) by 5 basis points across tenors, marking the ninth downward revision in the key
