SBI Revises Interest Rates On Savings Deposits, Fixed Deposits | Read

PUBLISHED ON: October 9, 2019 | Duration: 1 min, 12 sec

  
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State Bank of India or SBI, country's largest lender, on Wednesday announced a reduction in its savings deposits interest rate. It also announced a reduction in interest rates on term deposits or fixed deposits (FDs) across select maturities. The cut in SBI interest rates comes on the back of the Reserve Bank of India (RBI)'s 135 basis points reduction in the repo rate - the key interest rate at which it lends short-term funds to commercial banks - so far this year.
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