SBI to offer 10.5% interest on 1000-day deposits

Written by Agencies | Mumbai, September 27: | Updated: Sep 27 2008, 23:17pm hrs
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.