SBI hikes deposit rates and retunes maturity periods

State Bank of India has revised its interest rates on deposits with effect from January 4. It has also readjusted maturity periods.

A deposit of 46 to 270 days earning 5.25% has now been readjusted to a 46 to 90 day deposit at 5.25%. 91-180 day deposits will earn 7% and 181 days to less than one year will earn 7.5%.

Deposits of one year and up to 10 years duration have also been converted into one year to less than two years at 8.75% interest; two years up to 10 years has been reviewed to 8.5%.

The new deposit categories for senior citizens will be one year to less than two years with 9.25% interest and two years to 10 years with 9% interest.

Short term deposits of 15 to 45 days will continue to fetch an interest of 4.75%.