(PTI) State Bank of India, the largest bank in the country has announced that it has increased the interest rates on saving bank deposits by 0.30% (30 bps) for a balance Rs. 10 crore and above.
The interest rates for deposits below Rs. 10 Crore remain unchanged at 2.70%. The revised rates are applicable from October 15, 2022, onwards.
Bank of Baroda on the other hand hiked the interest rates on foreign currency non-resident (FCNR) deposits across various currencies and maturity periods by up to 135 basis points.
The new deposit rates came to effect from October 16, 2022 and will remain in force till November 15, 2022, Bank of Baroda said in a release on Monday.
The revised rates are applicable on fresh and existing FCNR deposits which are renewed on maturity, the lender said.