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Our Bureau

Thiruvananthapuram, Dec 13

The State Bank of Travancore (SBT) has raised the interest rates for domestic and non-resident ordinary term deposits for various periods with effect from December 14.

For deposits of Rs 25 lakh and above, the interest rate will be 4.50 per cent for a period between seven and 14 days, according to a statement from SBT. The revised rates for other various periods on deposits of Rs 15 lakh and below are: five per cent for 15 days and up to 45 days; 5.50 per cent for 46 days and up to 90 days; six per cent for 91 days and up to 179 days; 6.75 per cent for 180 days to less than one year; 7.75 per cent for one year and less than two years; and eight per cent for two years and above.

Resident senior citizens will get 50 basis points additional interest on deposits of Rs 5,000 and above for periods of one year and above. Additional interest of 25 basis points above the prescribed rates will be given for deposits of Rs 15 lakh and above for periods of 180 days and above.

More Stories on : Fixed Deposits | Public Sector Banks | Interest Rates

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