SBI cuts fixed de­posit in­ter­est rate by 0.25%

The Times of India (New Delhi edition) - - Front Page -

State Bank of In­dia has re­duced in­ter­est rates on re­tail and whole­sale fixed de­posits. Its high­est re­turn, on two- to three-year de­posits, is now 6.25% against 6.5% ear­lier. SBI also cut its bench­mark mar­ginal cost of lend­ing rate by 10 ba­sis points cit­ing “fall­ing in­ter­est rates and sur­plus liq­uid­ity”. This is SBI’s fifth con­sec­u­tive cut in MCLR in 201920. From Oc­to­ber, it will an­nounce a rate linked to RBI’s repo for all re­tail loans.

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