Attention SBI Savings a/c holders! Bank raises interest rates by 0.30% for THESE deposit

New Delhi: Inaia's largest public sector lender State Bank of India has said that it has increased the saving bank interest rates by 0.30  percent for deposits of Rs 10 Crore and above while Interest rates for saving Bank deposits below Rs. 10 Crore remains unchanged at 2.70 percent. The rates are applicable from October 15, 2022 onwards, said the Bank.

"State Bank of India, the largest bank in the country has announced that it has increased the interest rates on saving bank deposits by 0.30% (30 bps) for the balance Rs. 10 crore and above. The interest rates for deposits below Rs. 10 Crore remain unchanged at 2.70%. The revised rates are applicable from October 15, 2022 onwards," SBI said in a release. 

A couple of days ago, SBI said that it continues to lead the Home Loan segment and has surpassed Rs. 6 Trillion in Assets Under Management. To celebrate this milestone and welcome the festivities, SBI has launched the Festive Bonanza for its home loan buyers. 

As a part of the Festive Bonanza, SBI will offer a concession of up to 0.25% on Home Loans, 0.15% on Top Up Loans, and 0.30% on Loan Against Property. Bank has further sweetened the deal, by waiving off the processing fees on home loans up to 31st January 2023. 

As on June 30, 2022, the bank has a deposit base of over Rs. 40.46 lakh crore with CASA ratio of 45.33% and advances of more than Rs. 29 lakh crore. SBI commands a market share of 33.3% and 19.3% in home loans and auto loans respectively. SBI has the largest network of 22,294 branches and 65,561 ATMs / ADWMs in India with 67,735 BC outlets.