SBI ups interest rates on bulk term deposits

Mumbai, May 10

State Bank of India on Tuesday announced a hike of 40-90 basis points in the interest rates on several bulk term deposits. The revised interest rates on bulk term deposits amounting to Rs 2 crore and above are effective from Tuesday, the bank said.

While interest rate on deposits maturing between 7-45 days has been kept unchanged at 3%, those maturing between 46-179 days will now attract an interest rate of 3.50% as against 3%.