India’s largest bank State Bank of India has once again increased the interest rates on fixed deposits. It will be officially released on the website on June 14. State Bank of India has changed the interest rate on fixed deposits of less than Rs 2 crore and less than three years. Along with this, changes are being made in the rules of State Bank of India to benefit senior citizens.
According to SBI, 4.60 interest will be paid to the customer in April from 211 days to one year. Thereafter, an interest rate of 5.30 per cent will be offered on fixed deposits ranging from one year to two years. After this, 5.35 percent interest will be paid on fixed deposits of two years to three years.
India’s largest co-operative bank State Bank of India has increased interest rates to benefit senior citizens. Fixed deposits for less than 1 year will have to pay 5.10 percent interest. After this SBI will pay 5.80 percent interest on fixed deposits of one to two years and 5.85 percent on fixed deposits of two to three years.
Special parrots are run by State Bank of India for senior citizens in which they are given higher interest rates.