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SBI announces higher interest for deposits of Rs. 1 Crore
Posted on: 01/Dec/2017 12:07:23 PM
The public sector bank, the State Bank of India, increased the interest rate for the term-deposits of over Rs. 1 Crore yesterday (Thursday, 30th November).
Accordingly, in interest rates for term-deposits for up to 2 years of Rs. 1 Crore to Rs. 10 Crores has been increased from 3.75 % - 4.25% to 4.75 % - 5.25%. For the senior citizens, the interest rate for this would be Rs. 5.75%.
For the term-deposits of over Rs. 10 Crores for up to 2 years period, the interest rate has been increased from 4.25% to 5.25%.
The penalty for withdrawal of the term-deposit before the maturity is presently 1%.
During the start of the last month, SBI reduced the interest rate for term-deposits by 0.25%.
In this scenario, SBI has now announced higher interest rates for term deposits of large amounts.
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