Country's largest lender State Bank of India on Monday raised fixed deposit rate by 100 basis points to 10.50 per cent for 1,000 days maturity.
Deposit rates in between 2-3 year maturity have been revised to 12.50 per cent from 9.5 per cent, SBI said in a regulatory filing to the Bombay Stock Exchange.
For the same maturity senior citizens would get 0.5 per cent additional interest, it said.
Rate for other maturities have been kept unchanged at the previous level.
Shares of SBI were trading at Rs 1,392.75, down 2.89 per cent in early morning trade on the BSE.