Diabytes
SBI interest rates News
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SBI has also increased the interest rate on fixed deposits of more than Rs 2 crore, effective December 15, 2021.
SBI has kept the interest rates on FDs under Rs 2 crore unchanged.
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According to the new structure, for up to 1-year deposits, SBI will offer a rate of 6.50 percent as compared to 6.75 percent earlier.
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Country's largest lender SBI on Monday said it has consistently passed on RBI's rate cuts to borrowers and would further reduce the lending rate in the near term, benefiting auto and home loan seekers.
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State Bank of India (SBI) Chairperson Arundhati Bhattacharya says a 25 basis points cut in interest rates was in the offing and that an improvement in the financial health of India`s banking sector was closely linked to the overall performance of the economy.
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The new interest rates vary from 8.95 percent for overnight to 9.35 percent for 3 years, SBI said in a document posted on its website Thursday.
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Anticipating a lower credit offtake than what was expected, State Bank of India (SBI) has revised its fixed deposit rates Thursday onwards.
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