The State Bank of Hyderabad has increased the rates of interest on term deposits from 8.6 to 8.75 for periods ranging from five to ten years with effect from January 6.
The SBH also launches a new recurring deposit, SBH-KUBER Monthly, for 36 months where a customer depositing Rs2,500 a month will get Rs 1,02,649 at 8.85 per cent interest per annum. However, the 400-day SBH-KUBER deposit scheme will continue at 8.85 per cent per annum.
The deposits can also be made in multiples of Rs 2,500 during 36 months.