{"id":246171,"date":"2022-01-15T13:29:12","date_gmt":"2022-01-15T07:59:12","guid":{"rendered":"http:\/\/try.nagalandpost.com\/2022\/01\/15\/sbi-hikes-short-term-fd-interest-rate\/"},"modified":"2022-01-15T13:29:12","modified_gmt":"2022-01-15T07:59:12","slug":"sbi-hikes-short-term-fd-interest-rate","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2022\/01\/15\/sbi-hikes-short-term-fd-interest-rate\/","title":{"rendered":"SBI hikes short-term FD interest rate"},"content":{"rendered":"<p><img src=\/old_site\/http:\/\/new.nagalandpost.com\/cms\/gall_content\/no_images_650x.jpg><\/p>\n<p>Following closely on the heels of private sector lender, HDFC Bank, the State Bank of India (SBI) has announced a hike in fixed deposit (FD) interest rates.<\/p>\n<p>According the SBI website, the bank has hiked the interest rate of FDs below Rs 2 crore with a tenure of 1 year to less than 2 years by 10 basis points. These FDs will now earn 5.1% (increased from 5%), with effect from January 15, 2022. Senior citizens will earn 5.6% 5.6% (up from 5.5%), the Economic Times reported.<\/p>\n<p>In December 2021, SBI increased its base rate by 0.10 percent or 10 bps, according to its website. The new base rate, that is, 7.55% per annum, will be effective from December 15, 2021. This looks like it is a signal for a start to the end of the low interest rate regime. That is because besides being a reference rate for borrowers, the base rate also works as an indicator of the direction of the overall interest rate in the economy.<\/p>\n<p>A rise in base rate indicates that the falling interest rate trend is finally reversing and going forward we may see a few more hikes in interest rates. Rising interest rate is good news for fixed deposit investors who have been earning one of lowest returns in the last two decades.<\/p>\n<p>Banks are slowly beginning to increase FD rates now. HDFC Bank has increased interest rates on fixed deposits (FDs) for select tenors.&nbsp;<\/p>\n<p>These rates will be effective from January 12, 2021. According to the bank&rsquo;s website, it has raised interest rates on FDs worth less than Rs 2 crore with maturities of above two by five-10 basis points. According to the website, now FDs with tenure between 2 years 1 day and 3 years will earn 5.2%, 3 year 1 day and 5 years will fetch 5.4% and 5 years 1 day and 10 years will fetch 5.6%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SBI hikes short-term FD interest rate<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[667],"tags":[],"class_list":["post-246171","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/246171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=246171"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/246171\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=246171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=246171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=246171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}