State Bank of India unveils two new schemes to boost deposit mobilisation

The State Bank of India (SBI) has unveiled two new schemes designed to boost deposit mobilization. The first scheme targets high-net-worth individuals (HNIs) with attractive interest rates, while the second is aimed at small savers, offering competitive rates for savings accounts and fixed deposits. These initiatives come as part of SBI’s ongoing efforts to enhance its deposit base and meet increasing funding requirements. SBI's strong brand presence and vast network of branches position it as a key player in driving retail deposit growth. The move is expected to attract a larger share of India’s savings market, bolstering SBI’s position as a leader in the banking sector.