SBI interest rates on saving account has been changed. SBI interest rate in 2020 is given below. SBI interest rate of FD (Fix deposit) also changed. see this.
SBI interest rates 2020
In SBI from 15th april 2020, 2.75% p.a. for balance upto Rs. 1 lakh in all savings account.
Rate continued at 2.75% p.a. (2.75% below RBI’s Repo Rate, with a minimum of 2.75%) for balance above Rs. 1 lakh.
Earlier in State bank of India, interest rates on saving account was just 3 % PA.
| Savings Bank deposit slabs | Existing Rate of Interest | Revised Rate of Interest w.e.f. 19.04.2020 |
|---|---|---|
| SB Deposit accounts with balances upto Rs. 1 lakh | 3.00% p.a | 2.75% p.a. |
| SB Deposit accounts with balances above Rs. 1 lakh | i) 3.00% p.a. for balance upto Rs. 1 lakh ii) 3.00% p.a. for balance above Rs. 1 lakh.Rate continued at 3.00% p.a. (2.75% below RBI’s Repo Rate, with a minimum of 3.00%) for balance above Rs. 1 lakh. |
i) 2.75% p.a. for balance upto Rs. 1 lakh ii) 2.75% p.a. for balance above Rs. 1 lakhRate continued at 2.75% p.a. (2.75% below RBI’s Repo Rate, with a minimum of 2.75%) for balance above Rs. 1 lakh |
SBI interest rate on FD 2020
Revision in Interest Rates On Retail Domestic term deposits (Below Rs. 2 crore) interest rates revised w.e.f. 28.03.2020
Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees Two Crore ‘have been revised.The revised interest rates are as under :
(All figures in % per annum)
| Time | Existing Rates for Public w.e.f. 10.03.2020 | Revised Rates For Public w.e.f. 28.03.2020 | Existing Rates for Senior Citizens w.e.f. 10.03.2020 | Revised Rates for Senior Citizens (60+ yrs) w.e.f. 28.03.2020 |
|---|---|---|---|---|
| 7 days to 45 days | 4.00 | 3.50 | 4.50 | 4.00 |
| 46 days to 179 days | 5.00 | 4.50 | 5.50 | 5.00 |
| 180 days to 210 days | 5.50 | 5.00 | 6.00 | 5.50 |
| 211 days to less than 1 year | 5.50 | 5.00 | 6.00 | 5.50 |
| 1 year to less than 2 year | 5.90 | 5.70 | 6.40 | 6.20 |
| 2 years to less than 3 years | 5.90 | 5.70 | 6.40 | 6.20 |
| 3 years to less than 5 years | 5.90 | 5.70 | 6.40 | 6.20 |
| 5 years and up to 10 years | 5.90 | 5.70 | 6.40 | 6.20 |
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