SBI hikes fixed deposit interest rates: As per the new rate list, the bank will be offering an interest rate ranging from 3.00 per cent to 5.85 per cent for the general public, and 3.50 per cent to 6.65 per cent for senior citizens on deposits maturing in 7 days to 10 years.
Deposit rates have moved up slowly compared to the pace of lending rates since May. From May to August the average interest rate on outstanding loans rose by 34 bps compared to a slower 22 bps jump in rates on outstanding term deposits.