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

0
109

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.

READ  Sensex, Nifty Rally For Fifth Straight Day Led By Reliance, Banking Shares