Highly Networked bank of the country State bank of India has made certain amendments in the rates on retail term deposits. For the term deposits of below than Rs 1 crore the bank has revised its interest rates.
For the period of 1 to 3 years the bank has reduced the rate from 9 % to 8.75 %. Hitherto for the tenure of 180 to 210 days the bank has increased the rate y 0.25%, the new rate now is 7.25%. On this revision the chairman of the bank reported that due to the availability of the liquidity, while the credit demand has been low, the bank has revised the rates.