This rate is comparable to most of the other participants in the market (though it should be said that Bajaj Finance offers rates up to 7.60% for non-senior citizens and 7.85% for senior citizens). In case of senior citizens, the interest rate goes up to 6.20%.
Competitive rate of interest - Investors in SBI fixed deposits can get up to 5.40% rate of interest on their deposits. This indicates that the FD offering is stable, and it will generate stable and timely returns. The Fixed Deposit programme by SBI has been rated as FAAA/Stable by CRISIL. It has been ranked as 236th in the Fortune Global 500 list of the world's biggest corporations of 2019.
It offers a wide list of products and services to customers including savings accounts, fixed deposits, loans and credit cards.
The State Bank of India is the largest Indian bank with 42 crore customers.
