SBI increases deposit rates by 25-75 points
Banks adjust deposit rates according to their asset and liability positions and demands for funds in specific tenures. This is the first increase by SBI in deposit rates since December 2023. - Our Bureau
: () raised in three of by 25 to 75 .Updated on its website showed deposit rates on 46 days to 179 days has been hiked to 5.50% from 4.75%, effective from May 15. Deposit rate in the 180 days to 210 days bucket has been hiked to 6% from 5.75%, while rate for the 211 days to less than one year period has been increased to 6.25% from 6%.
These rates are for deposits of less than ₹2 crore. get a 0.50% higher rate.
Banks adjust deposit rates according to their asset and liability positions and demands for funds in specific tenures. This is the first increase by SBI in deposit rates since December 2023.
Source: Stocks-Markets-Economic Times
