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Thiruvananthapuram, July 1

State Bank of Travancore (SBT) has hiked the interest rates for domestic term deposits and non-resident ordinary term deposits with effect from July 1.The increase is 0.50 per cent on all maturities from six months to two years, according to a release from the bank. Resident senior citizens will get 0.50 per cent additional interest on deposits of Rs 5,000 and above for periods of one year and more. The bank has also increased the benchmark PLR from 13 per cent to 13.5 per cent. Consequently, interest rates for all advances linked to BPLR will stand revised from the date, the release said.

— Our Bureau

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