Bank Customers Alert! SBI RD Interest Rates 2022 Hiked! Check Latest Interest Rates Here

SBI RD Interest Rate: The largest lender in the country this week also hiked interest rates on Fixed Deposits (FD). Now, the interest rates on RDs have also been hiked.

SBI RD Interest Rates 2022 | New Delhi: The State Bank of India (SBI) announced a hike in interest on recurring deposits (RDs). The rate hike by the largest lender in the country will be effective from June 14. SBI RD interest rates vary between 5.3 per cent and 5.5 per cent. For the unversed, the RD account can be opened for keeping the deposits for a period of 12 months to 10 years.

SBI RD Interest Rates 2022 for senior citizens

Senior citizens will get an additional interest rate hike of 50 points. The rate hike was announced after the Reserve bank of India (RBI) hiked the repo rate by 50 basis points to 4.9 per cent. The move was aimed to control the surging inflation.

On the same lines, the Fed hiked the interest rate by 75 basis points on Wednesday. The central bank of US aims to further raise interest rates by 175 basis points in the current year.

SBI RD Interest Rates 2022: Check Latest rates here

Tenor	FD Interest Rates
1-2 years	5.3 per cent
2-3 years	5.35 per cent
3-5 years	5.45 per cent
5-10 years	5.5 per cent

The interest rates came into effect on June 14, 2022