Business League | 14/03/2022 12:52 PM | Click to read full article
State Bank of India, the nation’s largest lender, has increased interest rates by 20-40 basis points on bulk fixed deposits (FDs) of more than ₹2 core with effect from 10 March, 2022. The SBI website says the bank has raised the interest rate on FDs worth over ₹2 crore with terms ranging from 211 days to less than 356 days by 20 basis points.
The revised interest rates will now apply to new deposits as well as renewals of maturing deposits, the SBI said. NRO term deposit interest rates will be matched with domestic term deposit interest rates.