The largest public sector bank, State Bank of India (SBI) has raised interest rates by 10-20 basis points on the below fixed deposits 2 crore. The revised rate comes into effect from October 15. The elderly are the biggest beneficiaries of this FD rate hike. However, there are certain categories of seniors who will receive an extra 1% on top of the applicable FD. At maximum, these certain categories can earn up to 7.65%, which is a return that beats inflation.