Fixed income investors are scrambling to find the bank that guarantees the highest interest rates as the bank’s fixed deposit rates are on the rise. Individuals should be aware that the State Bank of India (SBI) recently announced a rate hike of up to 80 basis points on October 22, 2022. Following the most recent hike, SBI is now offering to the public the maximum interest rate. interest rate is 6.25% for deposits with a term of 2 to 3 years and the elderly have a maximum interest rate of 6.90% for deposits with a term of 5 to 10 years. Fixed-income investors looking for even better interest should know that Kisan Vikas Patra, a postal savings program that not only doubles investors’ money, but also offers interest. significantly higher than SBI FD.