SBI Customers Attention! Bank to cut interest rates on its savings account from November 1; check details
India TV NewsSBI Bank Customers Alert: Are you SBI customer and have saving account with the bank? Then this news is very important for you as State Bank of India, India's largest public sector bank is all set to reduce the interest rates on deposits in retail savings accounts from November 1, 2019. The bank, in a statement last week said that "in view of the adequate liquidity in the system, interest rates on savings accounts with balances up to Rs. Earlier this month, the Reserve Bank of India cut the key repo rate by 25 basis points, from 5.40 per cent to 5.15 per cent. SBI had linked its large savings deposits rates to the RBI's repo rate this year in May, offering an interest rate of 275 basis points lower the repo rate on savings account deposits with balance of over Rs.