SBT launches Flexi Max

THIRUVANANTHAPURAM: State Bank of Travancore has launched `SBT Flexi Max’ term deposit Scheme, with high interest rates for single deposits of Rs 15 lakh and above. The scheme will have an annual interest rate of 9 percent for deposits ranging from 15 days to 180 days. In a press note, SBT said that there would be no penalty for premature closure, if it is effected after 15 days from the date of deposit. The scheme is intended as an ideal instrument for short-term liquidity of individuals, companies, firms, institutions, trusts, societies and associations, it said.