Categories: Business

SBI Cuts the Deposit Rate

The Nation Bank SBI (State Bank of India) Has decided to reduce their interest rate for the savings account  for…

The Nation Bank SBI (State Bank of India) Has decided to reduce their interest rate for the savings account  for the first time.

The 90 percent of Saving bank account holder have the balance under the 1 crore. so, the SBI is ready to offer interest rate of 3.5 for saving deposit below one crore and 4 percent as interest for above one crore in their savings account.It will be effective from July 31st throughout  the country.

The Stock of SBI Increases 3% after the new interest rates.

The decline in the rate of inflation and high real interest rate are the primary considerations warranting a revision in the rate of interest on savings bank deposits,” SBI said in a statement.

Share
Published by
Aravind
Tags: featuredSBIsbi interest ratestate bank of india

Recent Posts

Bigg Boss Tamil Vote | Online Voting { Season 2 }

Bigg Boss Tamil Vote:  If you are looking for saving your favourite bigg boss Tamil contestant from being eliminated this…

June 25, 2018 11:20 am

A large Asteroid to safely pass by Earth on Septmber 1: NASA

A large asteroid will pass safely by our planet on September 1, at a distance of seven million kilometres, or…

June 6, 2018 2:24 am

STARC TO BE RESTED FOR INDIAs TOUR

The Australian Fast bowler Mitchell Starc will miss Australia’s limited-overs and Twenty20 tours of India starting in September. The Cricket…

June 5, 2018 10:14 pm

STAR WARS TO BE DIRECTED BY STEPHEN DALDRYIN

Director Stephen DaldryIn is in talks with a Star Wars "OBI-Wan Kenobi"  spin-off with to held with the project. According…

June 5, 2018 5:42 pm

KERALA HITS HIGH TRAFFIC TO SEE SUNNY LEONE

Thousands of fans gathered to see Sunny Leone, a Bollywood actress who had come to Kochi for the opening of…

June 5, 2018 5:42 pm

I’LL NOT ENTER BIG BOSS AGAIN: OVIYA

Oviya said that she would not go to the big boss anymore as a competitor. Oviya's speech and performance in…

June 5, 2018 1:30 pm