Latest Changes for SBI revises home, car loans, fixed deposit interest rates

The State Bank of India -SBI has raised its deposit , lending & other rates. The country’s largest lender’s decision came after the Reserve Bank of India -RBI highest the repo rate last week. While this is a welcome announcement for SBI account holders who have deposits.

SBI said that interest rates have been raised by 0.20 per cent on domestic term deposits of below Rs 2 crore for select tenors.

The revised interest rates on retail domestic term deposits (below Rs 2 crore) came into effect from June 14, 2022, State Bank of India said on its website.

For deposits of 211- days to less than 1 year, the lender will offer an interest rate at 4.60 per cent, as against 4.40 per cent earlier. Senior citizens will be offered an interest of 5.10 % as against 4.90 per cent earlier.