SBI, PNB, and IDBI Bank customers will get more interest on fixed deposits, Know the Latest Interest Rates 

The country’s three main banks have announced a hike in the interest rate on fixed deposits (FD). This means that a greater rate of interest will be offered if you have made a fixed deposit in the bank for a set amount of time. From June 14, 2022, all the nations will be subject to the new SBI and PNB interest rates. While the new IDBI interest rate will be effective as of today, June 15, 2022.

Fixed deposit (FD) interest rates were increased by 0.15 to 0.20 percent according to SBI. According to SBI, FDs with maturities between 211 days and three years and less than Rs 2 crore will earn greater interest. As a result, the interest rate on FDs with terms ranging from 7 to 210 days will not change. FD interest rates have increased by 0.20 percent for terms of 211 days to less than two years. Interest rates on FDs with terms of two years to under three years now carry a 0.15 percent premium. The interest rate for FDs from three to ten years has remained the same as well.

SBI FD new interest rates

• 2.90 percent from 7 days to 45 days
• 3.90 percent from 46 days to 179 days
• 4.40 percent from 180 days to 210 days
• More than 211 days but less than 1 year 4.60 percent
• More than 1 year but less than 2 years 5.30 percent
• Above 2 years but less than 3 years 5.35 percent
• Above 3 years but less than 5 years 5.45 per cent
• Above 5 years and up to 10 years 5.50 per cent

SBI FD Rates for Senior Citizens

• 3.40% from 7 days to 45 days
• 4.40 percent from 46 days to 179 days
• 4.90 percent from 180 days to 210 days
• More than 211 days but less than 1 year 5.10 percent
• More than 1 year but less than 2 years 5.80 percent
• Above 2 years but less than 3 years 5.85 percent
• Above 3 years but less than 5 years 5.95 per cent
• Above 5 years and up to 10 years 6.30 percent

Punjab National Bank (PNB) has increased fixed deposit (FD) interest rates by 25 basis points.

PNB’s new FD interest rate

• 7 to 45 days – 3 percent
• 46 to 90 days -3.25 percent
• 91 to 179 days – 4 percent
• 180 days to less than 1 year – 4.5 percent
• Between 1 year to 2 years – 5.2%
• Above 2 years and up to 3 years – 5.30 percent
• Above 3 years and less than 5 years – 5.50 percent
• Above 5 years and below 10 years – 5.60 percent

IDBI has increased the interest rate on term deposits of less than Rs 2 crore by 25 basis points. The enhanced interest rates of IDBI will be applicable from June 15, 2022. This interest rate will be applicable on Domestic Term Deposits, Non Resident Ordinary (NRO) and Non Resident Ordinary (NRE) Term Deposits.

IDBI’s new FD interest rates

• 91 days to 6 months – 4 percent
• 3 years to 5 years – 5.60 percent
• Up to 5 years – 5.75 percent
• 5 years to 7 years – 5.75 percent
• 7 years to 10 years – 5.75 percent
• Tax saving FD (5 years) – 5.75 percent

Less than Rs 2 crore for senior citizens

• 91 days to 6 months – 4.50 percent
• 3 years to 5 years – 6.35 percent
• Up to 5 years – 6.50 percent
• 5 years to 7 years – 6.50 percent
• 7 years to 10 years – 650%
• Tax saving (5 years) – 6.50 percent