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Our Bureau

Hyderabad, July 29

State Bank of Hyderabad has announced a hike in interest rates on deposits of all tenures and housing loans from August 1.

The interest rates on deposits has been increased from 25 percentage points to 50 percentage points on different maturing slabs. Super Saver Scheme for deposits above five years would fetch 7.50 per cent per annum and 8 per cent per annum for senior citizens.

The bank has increase housing loan interest rates by 50 percentage points with effect from August 1. The existing floating rates ranging from 8.50 per cent to 9.50 per cent has been increased from 9 per cent to 10 per cent. The fixed rates have been increased by 1 per cent per annum from the same day.

The Managing Director, Mr Amitabha Guha, told newspersons that the trend in the industry was towards hike in interest rates and the bank was in tune with it.

More Stories on : Housing Finance | Interest Rates | Public Sector Banks

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