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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.
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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.