SBI to offer 10.5% interest on 1000-day deposits

Country's largest public sector lender State Bank of India introduced 1000-day deposit scheme which will attract an interest rate of 10.5 per cent.

Written by Agencies

September 27, 2008 17:47 IST

Country’s largest public sector lender State Bank of India introduced 1000-day deposit scheme which will attract an interest rate of 10.5 per cent.

The 1000-day deposit scheme will come into effect from October 1, SBI said in press release here.

Senior citizens would be given a higher 11 per cent interest in the new deposit scheme, it said.

Besides, an additional 0.25 per cent rate would be given on deposits of over Rs 15 lakh, with a maturity period ranging from 181 days to two years, it said.

Similarly, an additional 0.1 per cent interest would be given on deposits of over Rs 15 lakh for a period of less than 181 days and above two years, the release added.

This article was first uploaded on September twenty-seven, twenty eight, at forty-seven minutes past five in the evening.