SBI hikes interest rates for fixed deposits across tenures

The State Bank of India on Wednesday raised interest rates on fixed deposits across various tenures by 10-25 basis points.

On deposits of less than Rs 1 crore for a tenure of two to three years, the interest rate has been raised to 6.60 per cent from 6.50 per cent, according to the bank's website.

For tenures of three to five years and five to ten years, rates have been hiked from 6.50 per cent to 6.70 per cent, and from 6.50 per cent to 6.75 per cent, respectively.

The bank also raised the interest on bulk term deposits ranging between Rs 1 crore and Rs 10 crore, for the tenure of one year to two years by 25 basis points to 7.00 per cent.

Besides, on bulk deposits of more than Rs 10 crore for a tenure of one year to two years, the bank raised the interest rate by 25 basis points to 7.00 per cent.

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