SBI cuts fixed deposit interest rates across tenors
Updated : May 28, 2020 03:31 PM IST
This is the second reduction in fixed deposits interest rates by the lender in May. It had reduced its deposit rates on May 12.
The new rates of interest, effective from Wednesday, shall be made applicable to fresh deposits and renewals of maturing deposits.
FDs maturing in one year to less than two years will now fetch an interest rate of 5.10 per cent as against 5.50 per cent.