NEWS & ADVICE : FIXED DEPOSITS
SBI revises its fixed deposit rates on selected maturities
By Neelima Shankar
Feb 28, 2013
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India's largest lender, State Bank of India has revised the interest rates on fixed deposits by 0.25 per cent on selected maturities with effect from March 1st, 2013.

Among nine maturity periods, the rates have been revised upwards in four categories with a maturity period of more than one year, SBI said in a statement.

The interest rate on 1 to 2 year fixed deposits would go up to 8.75 per cent from 8.50 per cent.

Term deposits for 2-3 years, 3-5 years and 5-10 years would earn a higher interest rate of 8.75 per cent. However, SBI has left the interest rate unchanged for deposits less than one year.

Earlier this month, State Bank of India had cut the lending rate by 0.05 per cent, soon after the Reserve Bank cut its key policy rates.


 


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