SBI increases deposit rates by up to 50 basis points

byFarhan Raza -
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SBI has raised interest rates on short-term fixed deposits by 50 basis points, marking its largest increase in recent months. The bank now offers 3.5% return on deposits between 1 week and 45 days, and 4% for senior citizens. SBI's 400-day Amrit Kalash scheme provides 7.1% interest (7.6% for senior citizens) until March 31, 2024. The bank has also increased rates for deposits between 180 to 210 days by half a percentage point. Other banks are expected to follow suit as liquidity in the system decreases.

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Farhan Raza

I am a content writer fond of writing blogs on different niches. I have been writing blogs for two years and gradually it became my hobby. Moreover, I am a student of management pursuing BBA in Marketing. Digital marketing, SEO, and Affiliate marketing have always been my subjects of interest. Sincerely, Farhan Raza

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