SBI hikes interest rates on deposits by 50-150 bps

State Bank of India (SBI) has revised the interest rates on term deposits with maturities ranging from 15 days to 10 years upwards. These revised rates will be effective from tomorrow, that is December 7.

The hike will be in the range of 50-150 basis points across various maturities. Deposits with a maturity of 46-90 days will see the maximum hike of 150 basis points, from the existing 4 per cent to revised 5.5 per cent.