SBI Increases Saving Bank Interest Rates By 0.30% For Deposits Of Rs. 10 Crore & Above
Mumbai: 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 of 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.
State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees.
It is also the largest mortgage lender in the country which has so far fulfilled the home-buying dreams of over 30 lakh Indian families. The home loan portfolio of the bank has crossed Rs 6.00 lakh crore.
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.