The country’s largest lender, State Bank of India (SBI), has hiked interest rates on retail term deposits by 15-20 basis points (bps) on some tenors, with effect from June 14.
SBI and IDBI Bank join trend, raise their interest rates on deposits
Interest rates on retail term deposits (below Rs 2 crore) of 211 days to less than one-year tenor have been increased by 20 bps to 4.6 per cent. It was 4.4 per cent earlier
 "state bank of india, sbi, banks, bank branch")
Premium
The hike in deposit rates follows the rate action by the monetary policy committee (MPC) in the June meeting.
Topics : SBI interest rates sbi Banking sector
First Published: Jun 14 2022 | 8:30 PM IST
Key stories on business-standard.com are available only to BS Premium subscribers.
Register to read more on Business-Standard.com
