SBI again cuts lending rates by 10 bps ahead of festive season

Team Udayavani, Sep 9, 2019, 11:51 AM IST

Mumbai: Public sector lender State Bank on Monday announced yet another reduction in lending rates by 10 basis points across tenors.

The new rates are effective from Tuesday, the lender said announcing the third rate reduction in the current fiscal year.

One year MCLR, to which all the retail lending rates are linked to, has been reduced to 8.15 percent from 8.25 percent earlier.

It also slashed retail term deposit rates by 20-25 bps and bulk term deposit rates by 10-20 bps across tenors, effective Tuesday.

The lender attributed the falling interest rate scenario and surplus liquidity for realigning its interest rate on term deposits.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

MUST WATCH

UP bypoll: CM credits Modi for BJP’s win, says INDIA bloc’s ‘loot and lies’ politics coming to end

Maharashtra victory a win for development, says PM Modi, congratulates JMM alliance in Jharkhand

Royal tour of India in offing for King Charles, Queen Camilla: Report

Cost and debt rising, yield stagnant: SC panel on agri distress; suggests examining MPS, other measures

SP chief Akhilesh Yadav terms UP bypolls as ‘most distorted form of electoral politics’

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.