Mumbai: January 3, 2008 – Country’s largest lender State Bank of India has revised interest rates from Friday on domestic term deposits and reset the maturity period. Deposit of 46 to 270 days earning an interest of 5.25 per cent has now been reset into deposit of 46 to 90 days earning interest of 5.25 per cent.
The deposits of 91 to 180 days will earn a high interest rate of 7 per cent and 181 days to less than one year will earn 7.5 per cent, 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 per cent and two years to up to 10 years with interest rate of 8.5 per cent.
For senior citizens, the new deposit categories will be one year to less than two years with 9.25 per cent interest rate and two years and up to 10 years with 9 per cent interest.
Short term deposit of 15 to 45 days will continue to earn an interest of 4.75 per cent.