How SBI's fixed deposit rates compare with other leading banks

The country's largest lender, the State Bank of India (SBI), yesterday hiked interest rates on fixed deposits of various tenures.

By BusinessToday.In  
Tuesday, July 31, 2018

The country's largest lender, the State Bank of India (SBI), yesterday hiked interest rates on fixed deposits of various tenures. The bank has made its retail deposits - those below Rs 1 crore - across longer maturity baskets more attractive by 5-10 basis points. For instance, interest rates on deposits of tenures longer than two years have gone up by 0.1 per cent. Senior citizens, of course, earn 50 basis points more across all the revised brackets.

 Bank Tenure up to 1 year Up to 3 yearsUp to 5 years
 PNB6.66.756.25
 Bank of Baroda6.6    6.6 6.7
 Allahabad Bank6.56.5 6.5
 Bank of India6.256.65 6.4
 Union Bank6.75 (14 months)  6.7 6.75
 Vijaya Bank    6.756.75 6.75
 Syndicate Bank6.356.6 6.6
 HDFC Bank6.857 7
 ICICI Bank6.5 6.75 (up to 2 yrs) 7
 Axis Bank6.5 7 7
Kotak Mahindra Bank7    7 7
 YES Bank6.77.1 7.1
 Citibank6.256 6
 Deutsche Bank6.57.5   8.25

The bad news is that a hike in deposit rates is typically followed by an uptick in lending rates. The latter will depend on what the six-member Monetary Policy Committee will announce tomorrow afternoon.

Edited By Sushmita Choudhury Agarwal

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