single

State Bank of India or SBI, India's biggest Bank, has cut interest rates on fixed deposits or FDs for second time in a month. The revised rates came into effect from 10th March. SBI had earlier cut interest rates on FDs on 10th February.

According to the latest revision, SBI FDs between 7 days to 45 days will now fetch 4%, from 4.5% earlier. Similarly, FDs between one year to less than 5 years, will fetch 5.9%, from 6% earlier. SBI fixed deposits between 5 years and up to 10 years will now fetch 5.9% from 6% earlier.

SBI said senior citizens will continue to get 50 basis points higher interest rates than offered to above the rate payable for others.

SBI said the new FD rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits.

TAGS

0 thoughts on “SBI cuts fixed deposit FD rates for second time in a month”

Post Comment



  Stock Future Tips

Majority of the intraday traders are trading in stock future with decent capital as the profit is more. stock future tips are not as like cash calls which need to put number of shares to buy, all are said in lot basis which differed from each company.



Daily News

VIEW ALL