SBI cuts savings rate by 25 basis points

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SBI cuts savings rate by 25 basis points

SBI cuts savings rate by 25 basis points

The country’s largest lender, SBI on Tuesday said it has cut savings rate by 25 basis points, or 0.25 per cent, to 2.75 per cent on all deposits.

The new rate will come into effect from April 15, 2020.

In view of adequate liquidity in the system, SBI realigned its interest rates on savings bank deposits with effect from April 15, 2020, SBI said in a statement.

https://www.rediff.com/money/report/sbi-cuts-sa...

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FD rates are coming towards old SB rates… So SB interest rates obviously shd go down..

Soon a time will come when banks will ask 1% from us (depositors) to keep the money while they will keep increasing their NPAs with bad loans.

Should now look for alternate methods for holding our hard earnt money in safe/reliable, growing, low/notax & easily liquidifyable instruments.

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