Mumbai : Close on the heels of RBI’s policy action, India’s largest lender State Bank of India has lowered interest rates by 10 basis points on home loans above rs. 75 lakh. The new rates are effective June 15, the bank said in a statement here on Friday. For the salaries Woman, the news rate will be 8.55 % while for others, it is 8.60%.
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Mumbai: State Bank of India(SBI) has cut its term deposit rates by up to 50 basis points for various maturities. The rates have been revised for medium and long term deposits and for amount below rs. 1 crore . For two to less than three years deposits, SBI will offer 6.25%, compared to 6.75% earlier, for a similar maturity period, the deposit rates for senior citizens have been cut to 6.75% from 7.25%. For deposits maturing between three years and ten years, the rates have been lowered by 25 basis points to 6.50%. The lender will be offering the new rates for fresh deposits and renewals and are applicable from April 29,2017. The bank is offering 6.90% for one year to 455 days term deposits.
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