The Hindu Business Line : State Bank of Travancore hikes interest rates

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Thiruvananthapuram Feb. 24 The State Bank of Travancore has hiked the interest rates on domestic term deposits and non-resident ordinary term deposits for various periods with effect from February 26.

The revised rates are: 4.50 per cent for seven days to 14 days (Rs 25 lakh and above); 5 per cent for 15 days to 45 days; 5.50 per cent for 46 days to 90 days; 6 per cent for 91 days to 179 days; 8 per cent for 180 days to less than one year; 8.60 per cent for one year to less than two years; 8.75 per cent for two years to less than three years; nine per cent for three years to less than four years; 9.50 per cent for four years to less than five years; and 9 per cent for five years and above.

Resident senior citizens will get 0.25 per cent additional interest on deposits of Rs 5,000 and above for periods of one year and more, according to a statement from the bank.

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