Articles

SBI Hikes Interest Rates and Fixed Deposit Rates

by Hardeep Saini SEO

The largest lender of the country, State Bank of India has announced a 25 bps hike in its lending rates. Along with this, the bank has also raised fixed deposit rates by as much as 100 bps.

With prime lending rates going for a rise, all loans like auto, personal and home loans would also get dearer by atleast 25 bps.

The base rate of the bank would now stand at 9.50% following the revision with effect from July 11, 2011.

Also, the lending major has increased its benchmark prime lending rate (BPLR) to 14.25%.

Deposits having maturity in the range from 1 to 10 years would experience an interest rate of 9.25% associated with it.

Deposits having tenor of 90 days would fetch the customer an interest of 7%.

Fixed Deposit Interest Rates for deposits from 1 to 554 days tenor would be 8.25%.

Also premature withdrawal penalty has been waived off by the bank for deposits upto 90 days tenor. For those having tenor above that, the penalty has been dipped to 0.50% from 1% earlier.

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About Hardeep Saini Advanced   SEO

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Joined APSense since, May 19th, 2010, From Delhi, India.

Created on Jul 9th 2011 01:48. Viewed 2,632 times.

Comments

Naveen Kumar Innovator   Student
hey its really nice
Jul 9th 2011 04:48   
Jess von W. Innovator   consultant
i love it!!
Jul 9th 2011 05:10   
Mani J. Committed   I broke down...
thankx for the information
Jul 9th 2011 05:59   
Abby Aurora Advanced   Affiliate
good information
Jul 9th 2011 11:15   
Arvind Singh Shekhawat Advanced   Networker
This very good information and useful to all who are the customer of SBI and want to become...
Jul 9th 2011 21:50   
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