Monday: State Bank of India has revised the medium and long term deposits and reduced its term deposit rates by up to 50 basis points for various maturities.
As per the new structure of State Bank Of India, for two to less than three years deposits, SBI will offer a rate of 6.25 per cent as compared to 6.75 per cent earlier, the bank said. For the similar maturity, the deposit rates for senior citizen have been cut to 6.75 per cent from 7.25 per cent."
SBI has remained same on its marginal cost of funds based lending rates.
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