benefit to senior citizens

Senior citizens will continue to get higher returns. For those for a period of 46 to 179 days, the rates have been increased from 5.60 percent to 5.85 percent. Deposits maturing between 180 days to less than one year will now get a return of 6.35 percent, whereas earlier it was 6.10 percent. For the period from one year to less than two years, the revised rate is 7 percent, which was earlier 6.75 percent.

Retail FD	ordinary citizen	percent
Amrit Rain (444 days)	6.45 percent	6.95 percent
1 year to 2 years	6.25 percent	6.75 percent
5 years to 10 years	6.05 percent	7.05 percent (under SBI WeCare)

Penalty on premature withdrawal of bulk deposit

These new rates will be applicable on all new deposits as well as renewal of existing deposits on maturity. According to the bank, there has been no change in the other terms and conditions related to both retail and bulk term deposits.

Penalties will continue to be imposed on investors who want to withdraw money prematurely. SBI has retained the penalty of 1 percent on bulk deposits of all tenures. This means that for premature withdrawal of money, the interest rate applicable will be reduced by one percent.

What is Platform Fee, due to which increasing will make ordering food on Zomato and Swiggy expensive?