The Hindu Business Line : SBM hikes deposit rates

State Bank of Mysore has effected a hike in deposit rates across all maturities effective from May 22, this year. A Bank release said here that the short-term time deposit rates up to one year were hiked by 25 basis points. Deposit rates for maturities between 180 days to one year have increased to six per cent from 5.75 per cent. For deposit rates above three-year rates have been raised by 50 basis points. Consequently deposit rates for three year to five years would have an interest of seven per cent. Above five years, the deposit rates were raised by 75 basis points to 7.25 per cent, the release added. Senior citizens would get 75 basis points more than the card rates.

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