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Interest hike

THIRUVANANTHAPURAM: The State Bank of Travancore has hiked the interest rates for domestic Term Deposits and Non Resident Ordinary Term Deposits with effect from July 01, 2008. The increase is 0.50% on all maturities from 6 months to 2 years. The revised rates for Rs. 1 lakh and above are as follows : seven to 14 days—3.50; 15 to 45 days—5; 46 to 90 days—5.25; 91 to 179 days—7; 180 days to less than one year—8; one year to less than two years—9.50; two years to less than three years—9.50; three years to less than four years—9.25; four years to up to five years—9.25; and five years and above—9.25 per cent.

Resident Senior citizens will get 0.50% additional interest on deposits of Rs.5000.00 and above, for periods of 1 year and more. The Bank has also increased the Benchmark PLR from 13 to 13.50 per cent from July 1. —Special Correspondent

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