Bank fixed deposits (FDs) are no longer the all-seasonal investments they used to be. Thanks to demonetisation last year, banks are flush with funds, and the term deposit rates have come down in the recent past. The State Bank of India’s (SBI) 3-year term deposits now offer 6.25% on deposits of 2 to 10 years. In October 2015, a 3-year SBI term deposit used to give you 7%, which was 8.75% in October 2014. Its 465-days to less than 2-year FD now offers 6.50%, which used to be 6.95% in November 2016 and 7.25% in January 2016, as per BankBazaar.com.
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