SBI Revises Interest Rates on Domestic Term Deposits

State Bank of India (SBI) has announced about the following:

Revision in interest rates of domestic term deposits:

- The special rate of interest at 8.25% p.a. offered on deposits of Rs 15 Lacs and above but less than Rs 1 Crore for maturities of 1 Year and above as decided by ALCO in the meeting held on January 04, 2007 will now be applicable to all deposits irrespective of amount with effect from January 22, 2007.

- The above offer will be applicable for a limited period up to March 31, 2007.

- Senior Citizens would be offered 0.50% p.a. additional rate over and above the above rate for deposits of 1 Year and above.

- All the other existing terms and conditions governing term deposits would remain the same.

Source : Equity Bulls

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