State Bank of India (SBI) and HDFC will now offer higher interest rates on fixed deposits (FDs). Both these banks have raised interest rates on FDs. SBI has increased FD rates for a period of more than 2 years. According to SBI's website, the revised interest rates have come into effect from February 15. Also, HDFC Bank has increased interest rates on FDs below Rs 2 crore by 5-10 basis points. The new rates have been in effect since February 14.
New interest rate on SBI FD
| સમયગાળો | જૂના વ્યાજ દર (%) | નવા વ્યાજ દર (%) |
| 7થી 45 દિવસ | 2.90 | 2.9% |
| 46થી 179 દિવસ | 3.90 | 3.90 |
| 180થી 210 દિવસ | 4.40 | 4.40 |
| 211થી 1 વર્ષ | 4.40 | 4.40 |
| 1 વર્ષથી 2 વર્ષ | 5.10 | 5.10 |
| 2 વર્ષથી 3 વર્ષ | 5.10 | 5.20 |
| 3 વર્ષથી 5 વર્ષ | 5.30 | 5.45 |
| 5 વર્ષથી 10 વર્ષ | 5.40 | 5.50 |
The SBI also revised interest rates last month
Last month, SBI raised interest rates on 1-year FDs from 5 to 5.10%. Similarly, the interest rate for senior citizens has been increased from 5.50 to 5.60%. The new interest rates came into effect on January 15.
New interest rate on HDFC's FD
| સમયગાળો | જૂના વ્યાજ દર (%) | નવા વ્યાજ દર (%) |
| 7દિવસથી 29 દિવસ | 2.50 | 2.50 |
| 30 દિવસથી 90 દિવસ | 3.00 | 3.00 |
| 91 દિવસથી 6 મહિના | 3.50 | 3.50 |
| 6 મહિના 1 દિવસ 1 વર્ષ | 4.40 | 4.40 |
| 1 વર્ષ | 4.90 | 5.00 |
| 1 વર્ષ 1 દિવસથી 2 વર્ષ | 4.90 | 5.00 |
| 2 વર્ષ 1 દિવસથી 3 વર્ષ | 5.15 | 5.20 |
| 3 વર્ષ 1 દિવસથી 5 વર્ષ | 5.30 | 5.45 |
| 5 વર્ષ 1 દિવસથી 10 વર્ષ | 5.50 | 5.60 |
Many banks have changed interest rates
Recently, the Central Bank of India and UCO Bank revised the interest rates on Fixed Deposit (FD). Earlier, Bank of India (SBI), HDFC and Kotak Mahindra Bank had also revised FD interest rates.
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