SBI slashes deposit rates by 25 basis pointsMay 2nd, 2009 - 8:07 pm ICT by IANS
Mumbai, May 2 (IANS) The country’s largest lender State Bank of India Saturday said it has cut deposit rates by 25 basis points (bps) effective from Monday.
The new interest rate, for a deposit of 15-45 days, will be 3.75 percent, while deposits up to 10 years will fetch interest of 8.25 percent, SBI said in a statement.
The bank had April 13 slashed its rate of interest on deposits below Rs.1 crore by 25 bps to 50 bps.
SBI controls about 25 percent of the country’s total loans and deposits.
- SBI to hike lending rates, loans get dearer - Apr 19, 2011
- SBI cuts fixed deposit rates by up to 1 percent - Sep 05, 2012
- SBI cuts interest rates on term deposits - Aug 02, 2012
- SBI hikes deposit rates by 25-75 bps, keeps base rate steady - Sep 30, 2010
- SBI, PNB hike interest rate on NRE term deposits (Lead) - Dec 27, 2011
- State Bank of India hikes deposit rates up to 150 basis points - Dec 06, 2010
- SBI reduces educational loan rates by up to 1 percent - Feb 27, 2012
- SBI, Allahabad Bank cut interest rates - Apr 23, 2012
- SBI slashes deposit rates by 50 basis points - May 13, 2009
- Banks lower interest rates taking cues from RBI policy - Apr 19, 2012
- State Bank lowers deposit rates - Nov 06, 2009
- SBI withdraws 'teaser' home loans, hikes rates - Apr 20, 2011
- New interest rate regime come into force Thursday - Jun 30, 2010
- SBI hikes lending rates, EMIs to rise - Jul 07, 2011
- SBI raises lending, deposit rates; loans to get costlier - Aug 16, 2010