State Bank of India cuts rates for select term deposits

State Bank of India (SBI), the largest public sector bank in India, has revised its retail term deposit interest rates by reducing 25 basis points for tenors up to 240 days with effect from June 8, 2012.

In a press release the Bank authority said “The rates for tenors above 240 days remain unchanged.” This is the second time that the State Bank of India cut rates since the announcement of annual monetary policy for 2012-13 on April 17.

Leave a Reply

Your email address will not be published. Required fields are marked *