State Bank of Travancore''s interest rates on deposits revised

Thiruvananthapuram: State Bank of Travancore (SBT) has announced its revised interest rates on deposits. The revised rates will come into effect on 19 May 2003.

The revised rates for domestic deposits will be 4.25 per cent for 15 to 45 days and 5 per cent for 46 to 179 days. For deposits over 180 days, but less than a year, the rate will be 5.25 per cent.

The interest rate on domestic deposits that are for more than a year, but less than two years will be 5.75 per cent, while that for deposits for a period exceeding two years, but less than three years will be 6 per cent and that for a period over three years will be 6.25 per cent.

For non-resident deposits, the rate for a period over one year, but less than two years will be 5.75 per cent, while the interest rates for a period over two years, but less than three years will be 6 per cent. For three-year non-resident deposits the interest rate will be 6.25 per cent.

Senior citizens who deposit a minimum of Rs 5,000 for a period of one year or more will receive an extra 0.5 per cent by way of interest.