Sbi new interest rates 2024

 Breaking Update: SBI Increases FD Interest Rates 2024

SBI FD Interest Rate Hike
The State Bank of India (SBI) has increased its Fixed Deposit (FD) interest rates effective from 15 -06-2024. Now, general account holders under 60 years of age will receive higher returns on their FD investments. With this update, the maturity amount for deposits ranging from ₹1 lakh to ₹10 lakh over a period of 1 to 5 years will be higher.

SBI new fd interest rates 2024

SBI New Interest Rates (Effective from 15-06-2024)

Duration	Old Interest Rate	New Interest Rate
211 days to 1 year	6.25%	6.50%
1 year to 2 years	6.80%	6.80%
2 years to 3 years	7.00%	7.00%
3 years to 5 years	6.75%	6.75%
5 years to 10 years	6.50%	6.50%

Maturity Amount for General Customers (Under 60 Years)

For 1 Year FD

• ₹1 Lakh: ₹1,06,975 (6.80%)
• ₹2 Lakh: ₹2,13,950
• ₹3 Lakh: ₹3,20,926
• ₹5 Lakh: ₹5,34,876
• ₹10 Lakh: ₹10,69,753

For 2 Years FD

• ₹1 Lakh: ₹1,14,888 (7.00%)
• ₹2 Lakh: ₹2,29,776
• ₹3 Lakh: ₹3,44,664
• ₹5 Lakh: ₹5,74,440
• ₹10 Lakh: ₹11,48,881

For 3 Years FD

• ₹1 Lakh: ₹1,22,239 (6.75%)
• ₹2 Lakh: ₹2,44,478
• ₹3 Lakh: ₹3,66,717
• ₹5 Lakh: ₹6,11,196
• ₹10 Lakh: ₹12,22,392

For 4 Years FD

• ₹1 Lakh: ₹1,30,701 (6.75%)
• ₹2 Lakh: ₹2,61,403
• ₹3 Lakh: ₹3,92,104
• ₹5 Lakh: ₹6,53,508
• ₹10 Lakh: ₹13,07,016

For 5 Years FD

• ₹1 Lakh: ₹1,38,041 (6.50%)
• ₹2 Lakh: ₹2,76,083
• ₹3 Lakh: ₹4,14,125
• ₹5 Lakh: ₹6,90,209
• ₹10 Lakh: ₹13,80,419

Comparison of Maturity Amount for ₹5 Lakh Deposit (1 to 5 Years)

Duration	Maturity Amount for ₹5 Lakh
1 Year	₹5,34,876
2 Years	₹5,74,440
3 Years	₹6,11,196
4 Years	₹6,53,508
5 Years	₹6,90,209

Conclusion

These new interest rates are beneficial for those customers who want to secure their investments for the long term. If you are a general account holder and planning to open an FD, this could be a great opportunity for you.

Let us know in the comments where you plan to open your FD Account and share this information with your friends so they can benefit as well.