March 20, 2023

Rates on term deposits are raised by 15 to 100 basis points by State Bank of India.

State Bank of India

The State Bank of India has raised the rates on term deposits by 15 to 100 basis points. This is good news for those who have money in savings accounts and are looking for a better return on their investment. The new rates will be effective from tomorrow.

The State Bank of India has raised interest rates by 15-100 basis points on domestic term deposits. Maximum increase is in short-term money (up to one year). The retail deposits, amounts up to Rs two crore, remained unchanged at 5.25 per cent.

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