SBI revises interest rates on domestic term deposits

Mumbai, Jan 18 (UNI) State Bank of India (SBI) today announced revision in interest rates of domestic term deposits, effective from January 22 this year.

Accordingly, the special rate of interest at 8.25 per cent a year, offered on deposits of Rs 15 Lakh and above but less than Rs one crore for maturities of 1 Year and above as decided by ALCO (Asset Management Liability Committee) in the meeting held on January 4, 2007, will now be applicable to all deposits irrespective of amount.

The above offer will be applicable for a limited period upto March 31, 2007.

Senior Citizens would be offered 0.50 per cent per annum additional rate over and above the rate for deposits of 1 Year and more.

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

UNI