Surplus liquidity
& slower-than-anticipated credit pick-up have prompted State Bank of India
(SBI) to cut the interest rate on retail term deposits of one year to less than
3 years duration to 8.75% from 9%.
Simultaneously,
India’s largest bank SB Increased the interest rate on short-term deposits of
180 to 210 days duration from 7% to 7.25%, bringing it on a par with what
competitors are offering.
The new deposit
rates are effective from September 18, 2014.
No comments:
Post a Comment