SBI trims interest rates by 25 bps on select FDs
The State Bank of India (SBI) has recently lowered interest rates on certain fixed deposit (FD) tenors for both general citizens and senior citizens. The bank reduced rates by 25 basis points (bps) for bulk FDs ranging from seven days to 179 days for general citizens. For senior citizens, the bank trimmed rates by the same margin for tenors spanning the same period.
However, SBI retained its interest rates for bulk FDs with tenors extending from 180 days to 10 years for both categories of customers. Existing rates on deposits below Rs 3 crore remain unchanged.
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