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State Bank of Hyderabad has reduced the interest rates on domestic term deposits of up to Rs 15 lakh with some maturity periods with effect from July 1, 2012.
Interest rate on deposits for 46 to 179 days has been reduced to 7.25 per cent from the existing 8 per cent. Deposits for 180 days to less then one year would earn 8 per cent marking a reduction of 50 basis points.
The existing interest rate structure would continue for deposits above Rs 15 lakh for various maturity periods, SBH said in a release.
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