State Bank of Hyderabad (SBH), an associate of the banking major State Bank of India, is planning to open 14 branches in Chennai zone by July 2014. The bank has opened 14 branches during this financial year and proposes to open 4 more by March and 10 more by July. Meanwhile, the bank has unveiled a new deposit scheme SBH -110 Weeks which offers liquidity and higher rate of interest to the depositors for their medium period investment.
This new scheme is operational from March 10, 2014 to April 30, 2014. Under the scheme, customers can park their surplus funds for a medium period of 110 weeks and earn higher returns on deposits. The bank offers interest rate of 9.11% per annum for the public and 9.41% per annum for senior citizens.