Fintotal News Analysis | SBI hikes term deposit rate
SBI hikes term deposit rate
Ruby Jacob, 30 Jun 2012

State Bank of India has increased interest rate on term deposit for the tenure between 3 years and 5 years from the existing 8.75% to 9%. Rate on deposit for senior citizens has been raised from 9.25% to 9.5% for the same tenure. New rates will apply from 01 July 2012 on deposits less than Rs 15 lakhs.

Earlier this month SBI had hiked deposit rates by 25 basis points on tenures ranging from 7 days to 240 days.

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