India's biggest public-sector lender State Bank of India (SBI) has increased its deposit rates in certain maturities effective from October 1.

The bank has launched a 1000-days deposit scheme that provides 10.5% interest to depositors. However, senior citizens will receive a higher 11% interest in the new deposit-scheme.

Besides this, the lender has informed that an additional 0.25% rate above the card rate will be offered on a single term deposit of Rs 15 lakh and above, having tenure of 181 days to less than 2 years.

ING Vysya Bank, one of India’s leading private sector banks, is presently concentrating on retail banking and expansion plans to increase lender’s footprint across the country.

Yesterday, the bank has opened 11 ATM outlets in Hyderabad, including eight in the city. The other ATMs are located in Warangal, Khammam and Guntur.

During launching ceremony, ING Vysya said that its focus is on growing the bank's franchise and providing banking convenience 24/7 by strengthening its alternate delivery channels.

Private sector lender HDFC Bank has hiked its benchmark prime lending rate (BPLR) by 25 basis points to 15.25 per cent.