Current Affairs - Banking - Discussion

India's biggest lender State Bank of India (SBI) has revised its interest higher on retail fixed deposits or FDs below Rs. 1 crore. SBI has revision interest rates by up to 25 basis points in select maturities. The interest rate on SBI FDs with a maturity of one year to less than two years has been increased to 6.65% for the public, from 6.4% earlier. Senior citizens will get an interest rate of 7.15% as compared to 6.9% earlier. SBI fixed deposits with a maturity of two years to less than three years will fetch an interest rate of 6.65%, higher than 6.6% earlier. Senior citizens will get 7.15% as compared to 7.10%.