SBI raises lending rates by 0.50%, introduces new 1,000-day term for fixed deposits; Check new prices

The State Bank of India, the country’s leading lender, has increased its benchmark external lending rate (EBLR) and repurchase-linked lending rate (RLLR), according to the SBI website. The new rates will come into effect today, August 15, 2022.

According to the bank’s website, the return on profit and loss has been revised from 7.55% to 8.05% and RLLR has been revised from 7.15% to 7.65% as of today, according to the latest rate on the site.

Earlier, the country’s largest lender raised interest rates on fixed deposits (FDs) below Rs 2 kroner. According to the bank’s website, the revised rates went into effect on August 13, 2022.

The bank raised the interest rates on fixed deposits with maturities ranging from 7 days to 10 years at interest rates from 2.90% to 5.65% for regular customers and 3.40% to 6.45% for seniors.

The State Bank has also introduced a fixed term “1000 days” with an interest rate (ROI) of 6.10% effective August 15, 2022 for 75 days.

The proposed interest rates apply to new deposits and renewals of outstanding deposits.

The interest rate payable to SBI employees and retirees of the SBI will be 1.00% higher than the applicable rate. The rate applicable to all seniors and SBI retirees aged 60 and above will be 0.50% higher than the rate payable for all benefits to resident senior Indian nationals i.e. SBI senior resident Indian retirees will get employee benefits (1%) and seniors Resident Indians (0.50%).

Source: SBI

“The interest rates on the 2006 SBITSS Retail Tax Savings Scheme (SBITSS) deposits and NRO deposits should be aligned according to the proposed rates for domestic individual term deposits. However, employee NRO deposits do not qualify for an additional 1% applicable interest other than That for local retail deposits of employees, these interest rates will also apply to domestic term deposits from cooperative banks.”

SBI Helpline Numbers

For any inquiries regarding these rates and changes, the Bank’s customers can reach out to the SBI 24/7 Helpline through the toll free number 1800 1234, 1800 11 2211, 1800425 3800 or phone number 080-26599990.

said the bank/


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