State Bank of Travancore has sharply hiked the interest rate of the recently launched ‘SBT FlexiMax’ term deposit scheme.
The per annum interest rate for single deposits of Rs 15 lakh and above for any period of 15 days to 180 days will be 9.95 per cent (existing rate 9 per cent).
The scheme will be ideal for short term liquidity of individuals, companies, firms, institutions, trusts, societies and associations.
There shall be no penalty for premature closure, if after 15 days.