The largest lender of the country, State Bank of India has announced a raise in interest rates of short term fixed deposits by as much as 25-100 bps.

The interest rates have been revised for deposits having tenor of less than 1 year.

All maturity slabs between tenor of 7 days to less than 1 year have been revised to 8%.

With the fiscal coming to an end on March 31st, the act by the bank comes as a move to pull in more growth in deposit, said an official of the bank.