SBBJ hikes deposit rates by up to 50 bps

The new domestic term deposit rates has been increased from 7.25 per cent to 7.50 per cent for 555 days and from 7.50 per cent to 7.75 per cent for 1,000 days (SBBJ ANAND) effective from October 15,a bank spokesman said.

Senior citizens will get additional 0.50 per cent higher interest rate on deposit of Rs 10,000 and more for a minimum period of one year.