SBI cuts fixed deposit (FD) rates today. Latest rates here
SBI said the rate revision on FDs will apply from 10th November
SBI also cut its lending rate today
SBI, or State Bank of India, today announced a cut in retail fixed deposit or FD rates, citing adequate liquidity in the system. The revision will be effective from 10th November. Many banks have been lowering their deposit rates after Reserve Bank of India or RBI cut deposit rates by a cumulative 135 basis points so far this year. As part of the latest rates revision, SBI will cut interest rate of FD rates by 15 bps for maturity between one year to less than two years.