Saturday, March 3, 2018

SBI increases deposit rates for various tenors

Mumbai, February 28 (PTI): Country’s largest lender State Bank of India has revised retail and bulk deposits rates by up to 0.75% for various maturities, effective today.

For retail deposits, below Rs 1 crore, rates have been increased by up to 0.50%.

For deposits maturing in one year to less than two years, rates have been raised by 0.15% to 6.40% from 6.25% earlier.

The retail deposit rates for two years to up to 10 years have been changed by 0.5% to 6.5% from 6%. The lender revised its bulk term deposit rates for the third time in as many months.

For Rs 1 crore to Rs 10 crore bulk deposits, maturing in one year to less than two years, the bank raised rates by 0.5% from 6.25% to 6.75%.

For deposits maturing in two to less than three years, the rates have been increased by 0.75% to 6.75%.

For above Rs 10-crore bulk deposits maturing between one year and less than two years, the rates have been raised by 0.5% to 6.75%.

Rates for bulk deposits maturing between two to less than three years is increased by 0.75% to 6.75%.

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