State Bank of Travancore has raised interest rates for domestic/NRO/‘FlexiMax’ term deposits with effect from November 12, 2012. As per the revision new domestic/NRO term rates are 7% for seven to 180 days with deposits below Rs 15 lakh and 8% for Rs 15 lakh and above. For 181 days to less than 1 year rates will be 7.5% and for 1 year to less than 3 years 8.75% and 8.85%. For 500 days rates will be 8.75% and 8.85%, while for 1,000 days it will be 8.75% and 8.85%. For 3 years and above up to 10 years rates will be 8.50% and 8.60%.
The interest rate for ‘FlexiMax’ deposits has been increased from 7.50% to 8% for a period of seven days to 180 days in line with the rates applicable to deposits of Rs15 lakh and above.
