State Bank of Hyderabad (SBH) has increased the domestic term deposit rates by 25-100 basis points with effect from January 5.
Interest rates for deposits up to and including Rs 1 crore are now 4 per cent (7-14 days), 5 per cent (15-45 days), 6 per cent (46-90 days) and 7 per cent (91-179 days) from the pervious 3 per cent, 4.50 per cent, 5.50 per cent and 6 per cent respectively.
For a period of 180 days to less than one year, the deposit rates have been increased to 8 per cent, 8.50 (1-2 years), 8.75 (2-3 years and 3-5 years) and 8.75 (5-8 years), from 7.25 per cent, 8 per cent, 8.25 per cent and 8.50 per cent respectively. For the deposit period of 8-10 years, the rates remain same at 8.75 per cent.
Special deposit rates have been increased to 9 per cent from 8.50 per cent under the SBH 500 deposit scheme and for the SBH 1,000 scheme, the revised rate is 9.25 per cent over the previous 8.75 per cent.
The bank has increased its base rate by 25 points to 8.50 per cent, from 8.25 per cent and the benchmark prime lending rate (BPLR) by 25 basis points to 13.50 per cent from 13.25 per cent, according to a release here on Wednesday.
Under the tax saver scheme, for a maximum amount of Rs 1 lakh, the bank has revised its interest rate to 8.75 per cent from the earlier 8.50 per cent, it added.