The Hindu Business Line : SBT cuts deposit rates

The revised rates for deposits up to Rs 50 lakh are: 3.25 per cent for 15 days to 45 days; 4.25 per cent for 46 days to 90 days; 5.50 per cent for 91 days to 179 days; 6.50 per cent for 180 days to less than one year; 7.25 per cent for one year to less than two years; 7.50 per cent for two years to 999 days; 7.75 per cent for 1,000 days; 7.50 per cent for 1,001 days to less than three years; 7.50 per cent for three years to less than five years; eight per cent for five years to less than eight years; and 8.5 per cent for eight years up to 10 years.

The new rates for deposits of Rs 50 lakh-Rs 1 crore are: 2.25 per cent for 15-45 days; 2.75 per cent for 46 days to 90 days; 3.25 per cent for 91 days to 179 days; 4.25 per cent for 180 days to less than one year; and 5.75 per cent for one year to 10 years, according to an SBT release.

Senior citizens will get 0.50 per cent additional interest on deposits of Rs 5,000 and above for one year and more.

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