SBI cuts interest rates on term deposits by 15 bps

The country’s largest lender State Bank of India (SBI) has reduced interest rates on retail term deposits by 15 basis points (bps) on certain tenures, effective Jan 10. The reduction in interest rates are for long-term fixed deposits below Rs 2 cr. The lender has slashed interest rates on fixed deposits maturing in one year to 10 years to 6.10% from 6.25%.

Leave a Reply

Your email address will not be published. Required fields are marked *