State Bank of India (SBI) has increased the interest rates on saving bank deposits with a balance of ₹10 crore and above by 0.30 per cent (30 basis points) from 2.70 per cent to 3 per cent.
However, the interest rate for deposits below ₹10 crore remains unchanged at 2.70 per cent.
The revised rate on saving bank deposits with balance a ₹10 crore and above is applicable from October 15, 2022 onwards.
As at June-end 2022, the Bank's savings deposits stood at ₹15,33,959 crore.
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