The country’s largest lender State Bank of India has revised retail and bulk deposits rates by up to 0.75% for various maturities, effective Wednesday.
For retail deposits, below Rs1 crore, rates have been increased by up to 0.50%. For deposits maturing in one year to less than two years, rates have been raised by 0.15% to 6.40% from 6.25% earlier.
The retail deposit rates for two years to up to 10 years have been changed by 0.50% to 6.50% from 6%. The lender revised its bulk term deposit rates for the third time in as many months.
For Rs1 crore to Rs10 crore bulk deposits, maturing in one year to less than two years, the bank raised rates by 0.50% from 6.25% to 6.75%.
For deposits maturing in two to less than three years, the rates have been increased by 0.75% to 6.75%. For above Rs10 crore bulk deposits maturing between one year to less than two years, the rates have been raised by 0.50% to 6.75%. Rates for bulk deposits maturing between two to less than three years is increased by 0.75% to 6.75%.