Good news for SBI, PNB, IDBI Bank customers will get more interest on Term Deposits

New Delhi. SBI PNB and IDBI FD New interest rate: The three largest banks in the country have announced an increase in the interest available on term deposits (FD). This means that if you have made a fixed deposit in the bank for a certain period of time, you will be offered a higher interest rate. The new SBI and GNP interest rates will be applicable from June 14, 2022 nationwide. While the new IDBI interest rate will be applicable from June 15, 2022, i.e. today.

SBI changed interest rates

SBI increased the interest rate on fixed deposits (FD) from 0.15 to 0.20%. According to SBI, FDs below Rs 2 crore and maturing in 211 days to 3 years will attract more interest. This means that the interest rate on FD ranging from 7 days to 210 days will remain the same as before. While the interest rate on DF ranging from 211 days to less than 2 years has been increased by 0.20%. The interest rate on DFs ranging from 2 years to less than three years has been increased by 0.15%. Also, there is no change in the interest rate of FD ranging from 3 years to 10 years.

SBI FD New Interest Rates

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

SBI FD rates for seniors

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

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

New PNB FD interest rate

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

IDBI raised the interest rate on term deposits of less than Rs 2 crore by 25 basis points. IDBI’s subsidized interest rates will be applicable from June 15, 2022. This interest rate will be applicable on Domestic Term Deposits, Non-Resident Ordinary Term Deposits (NRO) and Non-Resident Ordinary Term Deposits (NER).

New FD interest rates from IDBI

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

Less than Rs 2 crore for the elderly

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

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