Kerala - Thiruvananthapuram   

SBT hikes interest rates

THIRUVANANTHAPURAM: The State Bank of Travancore has hiked the interest rates for domestic Term Deposits and Non Resident Ordinary Term Deposits, for 6 months to less than 1 year from 8.00% to 8.50% with effect from August 4, 2008.

Interest for 1 year and above to less than 2 years has already been increased to 9.75% with effect from August 1. 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 13.50% to 14.00% with effect from August 4.

Consequently, interest on all advances linked to BPLR will stand revised from August 4.

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