The RBI said that the Consumer Price Index
(CPI)-based inflation is now projected to be at 5.3% for 2021-22 with risks
evenly balanced.
At this level, the fixed deposit for one
year with the country's largest lender State Bank of India (SBI) would rather
earn negative interest. The real interest rate would be (-) 0.3% for the saver.
Revision in Interest Rates On Retail Domesticterm deposits (Below Rs. 2 crore) interest rates revised w.e.f. 08.01.2021 by State
Bank of India
|
Tenors |
Existing Rates for Public w.e.f. 10.09.2020 |
Revised Rates For Public w.e.f. 08.01.2021 |
Existing Rates for Senior Citizens w.e.f. 10.09.2020 |
Revised Rates for Senior Citizens w.e.f. 08.01.2021 |
|
211 days to less than 1 year |
4.40 |
4.40 |
4.90 |
4.90 |
|
1 year to less than 2 year |
4.90 |
5.00 |
5.40 |
5.50 |
