SBI hikes interest rates on fixed deposits above two years
Wednesday, March 28, 2018, 2:37 PM
State Bank of India (SBI), the country's largest lender, has hiked interest rates on fixed deposits (FDs) across various tenures by 10-25 basis points, effective from today. A basis point (bps) is one-hundredth of a percentage. According to the bank's website, it has hiked rates for tenures ranging from two years to 10 years and will now earn between 6.6 percent and 6.75 percent.
Do not invest in Fixed Deposits for long-term
Tuesday, October 24, 2017, 11:26 AM
If you are looking to invest in Fixed Deposits, we suggest that you do not go with a longer tenure. This is because it is possible that interest rates are likely to rise from hereon. What this means is that if you invest for a 5-year tenure at 7 percent and then interest rates rise, you are stuck.