India’s Largest Bank Pays These Annual Returns On Fixed Deposits

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State Bank of India (SBI) – the country’s largest lender by assets – currently provides eight maturity options for retail fixed deposits, or fixed deposits up to ₹ 2 crore. Also known as lock-in period, the maturity period starts at seven days and extends to as long as 10 years. Currently, SBI provides interest rates to the tune of 3.4-6.2 per cent to senior citizens, and 2.9-5.4 per cent to other depositors, on retail FDs. Commercial banks such as SBI revise interest rates applicable to fixed deposits from time to time, to align them with benchmark rates.

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