Interest rates on domestic term deposits of up to Rs.15 lakh have been trimmed by State Bank of Hyderabad. The new rates will apply from July 1, 2012.
A release by the bank said, that the domestic term deposits having a maturity period of 46 to 179 days will now have an interest rate of 7.25 percent, down by 0.75 percent from the existing interest rate of 8 percent. Likewise, deposits having a maturity period of 180 days to under one year will have an interest rate of 8 percent, down by 50 basis points.
The release also said that the deposits of more than Rs. 15 lakh with any maturity period will continue to maintain the current interest rate structure.