State Bank of India offers different interest rates for savings and deposits accounts, and any customer having a Savings account in SBI is valid to get offers from various benefits.
Bank savings interest rate is valid, if the customer maintained the minimum amount in their savings accounts, and the Interest Rate of State Bank of India varies every year based on budget session and thus by having your savings account will also earn you extra money.
This rate is paid by financial institutions based on the deposit done in a once saving account and thus the amount gets added in the current principal savings balance.
Choose better savings accounts in State Bank of India to drive an extra source of income without any risky investments, and the Interest Rate of SBI accounts and Deposits is far different from the SBI Fixed deposits.
State Bank of India Interest Rates for Saving Account from 31.05.2020
- Balance upto Rs. 1 Lakh will get 2.7% per annum
- All the accounts having balance above 1 Lakh will also get 2.75% per annum
SBI Fixed Deposit Interest Rates from 27.05.2020
| Tenor of Fixed Deposit | Interest Rate for General Public | Interest Rate for Senior Citizen |
|---|---|---|
| 7 – 45 days | 2.9% | 3.4% |
| 46- 179 days | 3.9% | 4.4% |
| 180 – 1 year | 4.4% | 4.9% |
| 1- 3 years | 5.1% | 5.6% |
| 3 – 5 years | 5.3% | 5.8% |
| 5 – 10 years | 5.4% | 6.2% |
History of SBI Interest Rates
For Saving Bank
| Date from | % of Interest | Period |
|---|---|---|
| 01.04.2000 | 4.00% | Half Yearly |
| 01.03.2003 | 3.50% | Half Yearly |
| 03.05.2011 | 3.50% to 4.00% | Half Yearly |
| 31.07.2017 | 4.00% to 3.50% | Quarterly |
For Deposits
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