State Bank revises deposit rates

State Bank of India (SBI) today announced a revision in interest rates on domestic term deposits.

The bank will now pay 8.75% on deposits for 550 days effective November 7 as against the existing 8% on deposits between one year to less than two years.

While deposits of one year to 549 days would continue to get the existing rate of 8%, deposits of 551 days to less than two years would also get 8%.

The bank has left all other rates and durations unchanged.