Mumbai: Country’s largest lender State Bank of India has revised interest rates from tomorrow on domestic term deposits and reset the maturity period.
Deposit of 46 to 270 days earning an interest of 5.25% has now been reset into deposit of 46 to 90 days earning interest of 5.25%.
The deposits of 91 to 180 days will earn a high interest rate of 7% and 181 days to less than one year will earn 7.5%, a SBI release said.
Deposits of one year and up to 10 years duration have also been converted into buckets of one year to less than two years earning high interest of 8.75% and two years to up to 10 years with interest rate of 8.5%.
For senior citizens, the new deposit categories will be one year to less than two years with 9.25% interest rate and two years and up to 10 years with 9% interest. Short term deposit of 15 to 45 days will continue to earn an interest of 4.75%.