State Bank Of India – India’s leading Public Sector bank have revised fixed deposit as well as lending rates w.e.f 19/09/2013.
SBI have revised deposit rates in the range 0.25% -1%.
SBI Fixed Deposit Rates:
| Tenure | Old SBI FD Rates | Revised FD Rates |
| 7 Days -90 Days | 6.50% | 7.50% |
| 91 Days – 179 Days | 6.50% | 7.50% |
| 180 Days – 210 Days | 6.50% | 6.80% |
| 211 Days < 1Year | 6.50% | 7.50% |
| 1 Yr -10 Yrs | 8.75% | 9% |
Senior citizens to get higher interest rate of 0.25% for a period of one year and above only.
For period up to one year same rates applicable for senior citizens.
SBI to charge premature withdrawal penalty of 0.50% of contract period from general depositors (Except that for SBI Staff and SBI pensioners).
Quarterly Policy decision from Reserve Bank Of India is due tomorrow on 20/09/2013 and its surprising that SBI enhanced Deposit and lending rates just one day before the policy announcement.
