Foreign lender, Standard Chartered Bank has announced a 50 bps rise in its base rate and 75 bps rise in fixed deposit rates too.
The base rate of the bank now stands at 8%. It also said that the deposit rates of the bank are the highest offered by any foreign bank in India. The revised rates have come into effect from December 21.
The bank would now offer 7.75% interest on 121-179 days maturities, as compared to 7.25% earlier. Deposits having tenor of 180-260 days will earn the depositor 7.75% interest as against 7% earlier.