SBI increases rates on fixed deposits above two years

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New Delhi, Mar 28: State Bank of India (SBI) has increased its interest rates on fixed deposits across various maturities with effect from Wednesday. The country’s largest lender has hiked the interest rates for tenures starting from two years to 10 years which will now earn 6.6 per cent and 6.75 per cent rates respectively.
This comes just a few days before Reserve Bank of India’s (RBI) monetary policy announcement that will decide on key policy rate on April 5. SBI accounts for more than a fifth of the country’s banking assets.