The Hindu Business Line : SBT cuts deposit rates

State Bank of Travancore (SBT) has cut domestic and non-resident (ordinary) deposit interest rates with effect from May 1. The revised rates are applicable to deposits of less than Rs 1 crore, including unit deposit, capital gains account scheme (1988) and tax saver term deposit scheme (2006), recurring deposit and variable deposit, according to a statement from the bank. The revised rates are: 3.50 per cent for seven days to 14 days (minimum Rs. 1 lakh); four per cent fo r 15 days to 45 days; five per cent for 46 days to 90 days; 6.25 per cent for 91 days to 179 days; seven per cent for 180 days to less than one year; eight per cent for one year to less than two years; eight per cent for two years to less than 999 days; 8.50 per cent for 1,000 days; eight per cent for 1,001 days to less than three years; eight per cent for three years to less than four years; 8.25 per cent for four years to five years; and 8.50 per cent for above five years. 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, says the statement.

— Our Bureau

More Stories on : Fixed Deposits | Public Sector Banks | NRIs

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Tax holiday for banks in SEZs

Forex reserves rise by $631 m

IRDA closely monitoring finances of insurance cos

Reliance Capital Q4 net down 15%

APSFC net slips to Rs 45.44 cr

Private life insurance cos rationalising branch network

Future Generali Life plans rural market push

Citibank trims lending rate

Srei to raise Rs 1,000 cr thru NCDs

NPAs of pvt banks rise, public sector banks witness decline

LVB reduces term deposit rates

SBT cuts deposit rates

Muthoot group’s annual business meet today