Mumbai, December 13: The State Bank of India (SBI) today hiked its fixed deposit rates for some maturity periods on FDs less than Rs. 2 crores to 6.75 percent from 6.10 percent. The revised rates will be applicable to the fresh deposits and renewals of maturing deposits with effect from today, December 13.

According to the SBI website, “Revision in Interest Rates On Retail Domestic term deposits (Below Rs. 2 crores) interest rates revised w.e.f. 13.12.2022. Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees Two Crore 'have been revised." Video Life Certificates: SBI Allows Pensioners To Submit Life Certificate Via Video Call; Here's How To Avail the Service on SBI Pension Seva Mobile App and Website.

For the unversed, now the fixed deposits maturing between seven days to 45 days offer interest rates of three percent. FDs maturing between 46 days and 179 days will have interest rates of 3.9 percent. The fixed deposits having a maturity period of 180 days to less than 210 days offer an interest rate of 5.25 percent. With the new rates kick in, FDs that mature after 211 days to less than a year will have an interest rate of 5.75 per cent, while the ones maturing in two years and less than three years will have an interest rate of 6.75 percent. UPI Payment Fraud: SBI Shares 6-Step Guide for Safe Transactions, Know How To Ensure Safety (Watch Video).

Meanwhile, senior citizen customers are offered additional 50 basis points interest rate across all tenures. Now, senior citizens get an interest between 3.5 percent to 7.25 percent on fixed deposits that mature anytime between seven days to ten years.

(The above story first appeared on LatestLY on Dec 13, 2022 04:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).