SBI raises rates on domestic term deposits

Font Size

Print

Feedback

Email

Discuss

Related Articles

Andhra Bank eyes Rs 1,30,000-cr biz by end-FY 10Yes Bank to raise Rs 500-cr by SeptemberSBI, UBI revise foreign currency deposit ratesDeutsche Bank India PAT up 11 pc at Rs 430 crore

Mumbai, May 26:: India's largest bank State Bank of India revised upwards interest rates on deposits of two years and more with effect from June 1.

The deposits for duration two years to less than three years will now earn an interest of 8.75 per cent, the same as deposits of one year to less than two years, a release here said.

Also, interest rates on deposits of three years to less than five years has been increased to 8.85 per cent from 8.5 per cent.

Interest rates on deposits of five years and upto 10 years will be 9 per cent as against 8.5 per cent at present, the release added.

For senior citizens, the deposits of two years and upto 10 years has been bifurcated into two categories of deposits of three years to less than five years and 5 years to 10 years.

The interest rates on the new buckets will be 9.35 per cent and 9.5 per cent as against 9 per cent earlier, it said.