The bank has also hiked floating home loan rates by 0.50 points and fixed rate option by 0.25-0.50 per cent.

The other lending rates have been kept intact, SBI chief financial officer Yogesh Agarwal said on Saturday.

The bank has also introduced new term deposit bucket of five years and above with an interest rate of 6.25 per cent to raise long term funds to finance infrastructure projects, he added.

Meanwhile, the country's largest commercial bank, in a statement said the short-term deposits rates have been raised by 0.25 basis points.

The rate for deposits in 15-45 day segment would be four per cent, 46 to 179 days 4.5 per cent and 180 days to less than one year 5 per cent.

SBI has also introduced new slab of deposits of 7-14 days with an interest rate of three per cent. The rates on long-term deposits up to five years have been raised by 0.50 per cent, it said.

On the home loan front, the bank said the floating rates for advances up to five years would be 8 per cent as against earlier 7.5 per cent.

The rate for fixed rate option would be 8.5 per cent (eight per cent) for loans up to five years, it said.

The highest home loan rate under floating and fixed rate option would be 8.75 per cent and 9.25 per cent respectively, it said.