SBI raises interest rates on term deposits
State Bank of India on Wednesday said that it will raises interest rates by 25 bps on retail deposits of less than 10 million rupees with 1-10 year maturity. BSE 251.007.3 (2.91%) NSE 251.057.35 (2.93%)
The revised rates will be applicable from March 1, 2013. The bank also said that the premium for senior citizen in the one year and above categories is being reset at 25 bps per anum.
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Shares of the bank were seen trading at Rs 2216, higher by 0.79% on BSE at 1.00 PM IST.