State bank of Travancore has rolled out a new deposit scheme for its customers. The new scheme ‘Navavarsha’ will provide its customers with an interest rate of 9.10 for tenure of 1 to 2 years. Except for the NRE rupee deposit the rate is applicable for all the segments under domestic term and NRO term deposits.

Further the scheme will offer its senior citizens with an extra interest rate of 0.30% for the deposits greater than Rs 5000. Annual interest rates for different tenures are 9.41 for 12 months, 9.52 for 15 months, 9.63 for 18 months, and 9.74 for 21 months. Senior citizens will get additional 0.30% respectively.