The Hindu Business Line : Deposit scheme from SBI

SBI has introduced the Super Saver Term Deposit Scheme, which is for a period of 6-10 years, offering a rate of interest of 7.5 per cent and eight per cent for senior citizens. SBI officials said that they expect good response since other comparable bank deposits offer only seven per cent. They added that the scheme would attract people who might have otherwise locked up their money in post office savings schemes and other tax-saving schemes. With greater focus on project finance, the bank would need long-term funds, they added.

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