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SBI hikes deposit rates and retunes maturity periods

State Bank of India has revised its interest rates on deposits. It has also retuned maturity periods.

Apnaloan.com Research Bureau

04 Jan 2008

State Bank of India has revised its interest rates on deposits with effect from January 4. It has also readjusted maturity periods.

A deposit of 46 to 270 days earning 5.25% has now been readjusted to a 46 to 90 day deposit at 5.25%. 91-180 day deposits will earn 7% and 181 days to less than one year will earn 7.5%.

Deposits of one year and up to 10 years duration have also been converted into one year to less than two years at 8.75% interest; two years up to 10 years has been reviewed to 8.5%.

The new deposit categories for senior citizens will be one year to less than two years with 9.25% interest and two years to 10 years with 9% interest.

Short term deposits of 15 to 45 days will continue to fetch an interest of 4.75%.