With effect from 18 July 2014
State Bank of India has decided to revise the interest rates on bulk and retail term deposits for certain tenure with effect from 18 July 2014.The interest rate on bulk term deposit for Rs one crore and above has been revised downward as follows -
7 days to 60 days: Existing rate 6.50%, Revised rate 6.25%
61 days to less than 1 year: Existing rate 7.00%, Revised rate 6.75%
The interest rate on retail term deposit for below Rs one crore has been revised downward as follows -
7 days to 179 days- Existing rate 7.50%, Revised rate 7.00%
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