The State Bank of Hyderabad (SBH) has decided to waive penalty for premature closure of all fixed deposits opened or renewed on or after April 1, 2013, subject to the deposit having remained with the bank for at least 7 days. Interest will be paid, for the period the deposit was with the bank at the published rate.
SBH has retained the base rate at 10.20 per cent which is better than many large public sector banks. The total business of the bank has crossed Rs 2 lakh crore.
As a special incentive to savings bank account holders, SBH has waived minimum balance charges from January 1, 2013, benefitting 12.50 million customers.
From April 1, SBH will be offering senior citizens 30 bps premium on deposits of one year and above.
(Published 30 March 2013, 17:59 IST)
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