The Hindu Business Line : SBH deposit mop-up drive

Hyderabad, Aug. 31 State Bank of Hyderabad (SBH) will launch a nation-wide ‘Deposit Mobilisation Utsav’ from September 1. During the one-month programme, an additional interest of 25bps per annum would be offered on all term deposits for a period of one year and above.

Coinciding with the campaign, the bank would also be launching two new deposit products - Recurring Deposit Plus and Current Account Plus. These account-holders would be offered free Internet banking facility, free ATM/debit card, free multi-city cheques, and free accident insurance cover.

The bank had set a goal of opening more than three lakh new accounts during campaign and mobilise over Rs. 3,500 crore of fresh deposits, according to a release.

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