SBI hikes interest rates for fixed deposits across tenures by 10-25 basis points | business news | Hindustan Times
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SBI hikes interest rates for fixed deposits across tenures by 10-25 basis points

For tenures of three to five years and five to ten years, rates have been hiked from 6.50% to 6.70%, and from 6.50% to 6.75%, respectively.

business Updated: Mar 28, 2018 21:28 IST
On deposits of less than Rs 1 crore for a tenure of two to three years, the interest rate has been raised to 6.60 % from 6.50%, according to the bank’s website.
On deposits of less than Rs 1 crore for a tenure of two to three years, the interest rate has been raised to 6.60 % from 6.50%, according to the bank’s website.(Reuters File Photo)

The State Bank of India on Wednesday raised interest rates on fixed deposits across various tenures by 10-25 basis points.

On deposits of less than Rs 1 crore for a tenure of two to three years, the interest rate has been raised to 6.60 % from 6.50%, according to the bank’s website.

For tenures of three to five years and five to ten years, rates have been hiked from 6.50% to 6.70%, and from 6.50% to 6.75%, respectively.

The bank also raised the interest on bulk term deposits ranging between Rs 1 crore and Rs 10 crore, for the tenure of one year to two years by 25 basis points to 7%.

Besides, on bulk deposits of more than Rs 10 crore for a tenure of one year to two years, the bank raised the interest rate by 25 basis points to 7%.