Sad News SBI cuts savings bank account interest rate, FD rates

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SBI today cut interest rate on savings accounts with balance up to ₹1 lakh to 3.25%, from 3.5%. This will be effective from 1st November 2019. SBI has a deposit base of over Rs. 28 lakh crore. SBI has also cut interest rate of FD by 10 basis points for ‘1 year to less than 2 years’ maturity with effect from 10th October, 2019.
SBI cuts savings bank account interest rate, FD rates