New Delhi: India Negara Bank, the largest public sector bank in the country, has raised fixed deposit interest rates for various tenors. The new SBI FD tariff has been in effect since last week. SBI’s fixed deposit interest rates are valid for a domestic period of time for RS 2 Crore or more. This is caused by the Reserve Bank of India to increase the repo rate by 50 basis points.

The SBI FD interest rate which just came into force on Friday, July 15. The bank increases the fixed deposit rate for accounts that are due in one to two years from 4.75 percent to 5.25 percent for the general public. For parents, SBI FD interest rates have been raised by 50 basis points to 5.75 percent for the same tenor. The bank has kept tariffs on other tenors constant. Read more:

“The revised interest rate must be made applies to new deposits and mature deposit updates. Interest rates on NRO futures deposits must be harmonized according to the domestic period deposit rate. This interest rate must also be applied to the domestic term deposit of the Cooperative Bank, “SBI website is read. Read more:

Prepaid punishment for all deposit tenor the term bulk is 1%.” This will apply to all new deposits, including updates, “he said.

7 days to 45 days: for the general public – 3.50 percent; For senior citizens – 4.00 percent

46 days to 179 days: for the general public – 4.00 percent; For senior citizens – 4.50 percent

180 days to 210 days: for the general public – 4.25 percent; For senior citizens – 4.75 percent

211 days to less than 1 year: for the general public – 4.50 percent; For senior citizens – 5.00 percent

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1 year to less than 2 years: for the general public – 5.25 percent; For senior citizens – 5.75 percent

2 years to less than 3 years: for the general public – 4.25 percent; For senior citizens – 4.75 percent

3 years to less than 5 years: for the general public – 4.50 percent; For senior citizens – 5.00 percent

5 years to 10 years: for the general public – 4.50 percent; For senior citizens – 5.00 percent.

During the June meeting the Monetary Policy Committee, the Bank of India Reserve continued to raise the repo tariff, encouraging banks to raise their interest rates as well. This includes an increase in interest rates in the bank’s permanent deposit. FD SBI rates have risen in line with other banks such as HDFC Bank, ICICI Bank, Punjab National Bank, and others. RBI is ready to raise further interest rates during the August MPC meeting, because retail inflation remains above 7% in June, far above the maximum tolerance range of the central bank by 6%.