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SBI cuts interest rates on savings
April 08, 2020
SBI cuts interest rates on savings by 25 points on all deposits. The bank has been reducing the interest rate on savings accounts to 2.75%.
SBI has approximately 45 crore savings accounts. Until last month SBI was offering a higher rate of interest on savings accounts.
The lender said, “Bank has adequate liquidity in the system and it has changed the interest rates on saving accounts which will be applied from April 15, 2020”.
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