Date:27/08/2008 URL: http://www.thehindu.com/2008/08/27/stories/2008082754080400.htm

Kerala - Thiruvananthapuram

SBT raises interest rates

Thiruvananthapuram: The State Bank of Travancore (SBT) has enhanced the interest rates for domestic term deposits and non-resident ordinary term deposits to 10 per cent for a period of one year to less than two years with effect from August 25. Single deposits of Rs.15 lakh and above will earn 10.10 per cent interest. Deposit periods and amounts for which rates have been revised, with previous rates in brackets, are as follows: deposits of Rs.1 lakh and above for a period of 91 to 179 days – 7.75 (7.00); above Rs.15 lakh for 180 days to less than 1 year – 8.75 (8.50); less than Rs.15 lakh for 1 year to less than 2 years – 10.00 (9.75), above Rs.15 lakh for same period –10.10 (9.75); 2 years to less than 3 years 9.60 (9.50); 3 years to less than 4 years 9.75(9.25); 4 to 5 years 9.75 (9.25). Resident senior citizens will get 0.50 per cent additional interest on deposits of Rs.5,000 and above for periods of 1 year and more. — Special Correspondent