Monday, 29 July 2019

SBI Reduces Interest Rate on Deposits Across All Maturities

By 121 News

Chandigarh 29th July:- Country's largest lender State Bank of India (SBI),in view of the falling interest rate scenario and surplus liquidity, realigns its interest rate on Retail Term Deposits (less than Rs. 2 Crs) and Bulk Term Deposits (Rs. 2 Crs & above) w.e.f.01/08/2019.

For time deposits with longer tenors, there is a reduction upto 20 bps in the Retail segment and 35 bps in the Bulk segment. Interest rates have been slashed by 50-75 bps for time deposits with shorter tenors, i.e. upto 179 days. 

Full details are available on the Bank's web site.

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