<p>State Bank of India, the country's largest lender, said on Friday it will raise interest rates on retail term deposits below Rs 2 crore by up to 80 basis points from October 22.</p>.<p>While loan growth in India was at a multi-quarter high with a 16.4 per cent jump in the fortnight ended September 23 from a year earlier, according to the central bank data, deposit growth across the industry has remained comparatively tepid at 9.2 per cent.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/sbi-cuts-savings-deposit-rate-by-5-basis-points-to-270-bob-raises-fcnr-deposit-rates-1154447.html" target="_blank">SBI cuts savings deposit rate by 5 basis points to 2.70%; BoB raises FCNR deposit rates</a></strong></p>.<p>Indian banks are competing harder to boost deposits amid tightening liquidity and rising credit demand ahead of the festive season.</p>.<p>SBI raised interest rates on saving bank deposits above Rs 10 crore by 30 basis points earlier this week.</p>
<p>State Bank of India, the country's largest lender, said on Friday it will raise interest rates on retail term deposits below Rs 2 crore by up to 80 basis points from October 22.</p>.<p>While loan growth in India was at a multi-quarter high with a 16.4 per cent jump in the fortnight ended September 23 from a year earlier, according to the central bank data, deposit growth across the industry has remained comparatively tepid at 9.2 per cent.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/sbi-cuts-savings-deposit-rate-by-5-basis-points-to-270-bob-raises-fcnr-deposit-rates-1154447.html" target="_blank">SBI cuts savings deposit rate by 5 basis points to 2.70%; BoB raises FCNR deposit rates</a></strong></p>.<p>Indian banks are competing harder to boost deposits amid tightening liquidity and rising credit demand ahead of the festive season.</p>.<p>SBI raised interest rates on saving bank deposits above Rs 10 crore by 30 basis points earlier this week.</p>