SBI slashes deposit rates by 0.50%
By Neelima Shankar
Jul 16, 2014
Print    Email    RSS   

The largest lending institution of the country – State bank of India yesterday unveiled the new rates. The SBI has reduced its deposit rates by 0.5%. For the short term deposits for the tenure of 179 days the bank has reduced the rates by 0.5%. It is assumed that the other banks might go for the same.

For the period of 7 -179 days earlier the rate was 7.5% now it has been reduced to 7%. On the other hand for deposits of more than 1 crore, the rate for 7-60 days has been reduced by 0.25% and for the 61 days to 364 days the new rate is 6.75% earlier it was 7%. The new rates will be effective from 18th of this month. Prior to this SBI had revised its rates in the month of February. The repo rate at which the apex bank lends to the banks is maintained at the 8%.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Plan your tax, don’t evade it
Fetch higher interest rate on your savings...
Carnival of Indian Personal Finance Blogs #4
A checklist of investment options for...
Know about corporate fixed deposits

NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive