State Bank of India (SBI) has hiked fixed deposit rate on select short-term maturity up to 75 basis points. For term deposits of 46-179 days, the rate has been increased by 75 basis points to 5.50 per cent, as against the earlier 4.75 per cent.
There has been a 25 basis point increase in the other two maturity buckets -- 180-210 days and 211 days to less than 1 year, to 6 per cent and 6.25 per cent respectively. The new rates on deposit less than Rs 2 crore are effective from May 15, 2024. Senior citizens would be eligible for additional 50 basis points on the revised rates as per the norms. SBI has left interest rates unchanged on other maturity buckets beyond one year.
For fixed deposits above Rs 2 crore, the bank has increased interest rate on both short-term and long-term maturity. For three maturity periods starting from 7 days till 210 days, the interest rate has been raised between 10 basis points and 25 basis points. At the same time, longer duration term deposits starting one year till three years, will attract higher interest rates between 20 basis points and 25 basis points.
State Bank of India is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
| Company Name | CMP |
|---|---|
| SBI | 830.10 |
| Bank Of Baroda | 265.15 |
| PNB | 129.40 |
| Canara Bank | 118.00 |
| Union Bank Of India | 160.20 |
| View more.. | |
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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