The bank has also introduced a specific tenure scheme of 400 days where it is offering a rate of interest of 7.10 per cent with effect from 15 February 2023, valid till 31 March 2023. Senior citizens are the biggest beneficiary as they earn an additional premium on the normal rates.
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New Delhi: The State Bank of India, country’s largest public sector lender, has hiked interest rates by 5 bps to 25 bps on fixed deposits below Rs 2 crore with effect from 15 February 2023. The bank has also introduced a specific tenure scheme of 400 days where it is offering a rate of interest of 7.10 per cent with effect from 15 February 2023, valid till 31 March 2023. Senior citizens are the biggest beneficiary as they earn an additional premium on the normal rates.
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| Tenors | Existing Rates for Public w.e.f. 13.12.2022 | Revised Rates For Public w.e.f. 15.02.2023 | Existing Rates for Senior Citizens w.e.f. 13.12.2022 | Revised Rates for Senior Citizens w.e.f. 15.02.2023 |
| 7 days to 45 days | 3 | 3 | 3.5 | 3.5 |
| 46 days to 179 days | 4.5 | 4.5 | 5 | 5 |
| 180 days to 210 days | 5.25 | 5.25 | 5.75 | 5.75 |
| 211 days to less than 1 year | 5.75 | 5.75 | 6.25 | 6.25 |
| 1 year to less than 2 year | 6.75 | 6.8 | 7.25 | 7.3 |
| 2 years to less than 3 years | 6.75 | 7 | 7.25 | 7.5 |
| 3 years to less than 5 years | 6.25 | 6.5 | 6.75 | 7 |
| 5 years and up to 10 years | 6.25 | 6.5 | 7.25 | 7.5 |
