Fixed deposits (FDs) are one of the safest financial instruments to grow your money. The SBI has recently hiked their interest rates on FDs.
Here’s a look at the latest interest rates offered by SBI and post office FDs.
SBI FD interest rates
SBI FDs of terms ranging from seven days to 10 years give an interest rate of 2.9 percent to 5.5 percent for general customers. For senior citizens SBI provides 50 basis points (bps) extra on the deposits that set the rates at 3.4 percent to 6.3 percent, respectively. These rates took effect from February 15, 2022.
The latest SBI rates are as follows:
7-45 days: 2.9 percent
46-179 days: 3.9 percent
180-210 days: 4.4 percent
211 days to less than 1 year : 4.4 percent
1 year to less than 2 years: 5.1 percent
2 years to less than 3 years: 5.2 percent
3 years to less than 5 years: 5.45 percent
5 years and up to 10 years: 5.5 percent
Post office term deposit rates
The Post Office is offering interest rates of 5.5 percent for a tenure of 1-3 years. For a five-year deposit, it is 6.7 percent.
The latest post office rates are as follows:
1 year: 5.5 percent
2 years: 5.5 percent
3 years: 5.5 percent
5 years: 6.7 percent
