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Bad news in lockdown, SBI tweaks crores of customers, bank slashes FD interest rates

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Bad news in lockdown, SBI tweaks crores of customers, bank slashes FD interest rates


 SBI, the country's largest state-owned bank, has decided to cut interest rates on FDs.  The bank has cut interest rates on all-period FDs by 0.40 per cent.  The new rates have come into effect from Wednesday, May 27.  Let me tell you that the bank had earlier this month decided to cut interest rates on FDs.



  •  SBI's customers felt the tweak
  •  Bank cuts interest rates on FDs
  •  The new interest rate will be effective from May 27

 The one-to-two-year interest rate on FDs has now come down to 5.1 per cent after SBI cut interest rates.  While 5.3 per cent interest will be paid on 3 to 5 year FDs.

 New interest rates on 7 to 45 day FDs

 For the general public, interest rates have been slashed from 3.3 to 2.9.  The interest rate for senior citizens has come down from 3.8 per cent to 3.4 per cent.

 New interest rates on 46 to 179 day FDs

 For the general public, interest rates have been slashed from 4.3 to 3.9.  The interest rate for senior citizens has come down from 4.8 per cent to 4.4 per cent.

 New interest rates on 180 to 210 day FDs

 For the general public, the interest rate has been reduced from 4.8 to 4.4.  For senior citizens, the interest rate has come down from 5.3 per cent to 4.9 per cent.

 New interest rates on FDs for 211 days to 1 year

 New interest rates on FDs for a period of 1 year to 2 years

 The interest rate for the general public has been reduced from 5.5 to 5.1.  The interest rate for senior citizens has come down from 6 per cent to 5.6 per cent.

 New interest rates on FDs for a period of 2 to 3 years

 New interest rates on FDs for a period of 3 to 5 years


 For the general public, the interest rate has been reduced from 5.7 to 5.3.  The interest rate for senior citizens has come down from 6.2 per cent to 5.8 per cent.

 New interest rates on FDs for a period of 5 to 10 years

 For the general public, the interest rate has been reduced from 5.7 to 5.4.  The interest rate for senior citizens has come down from 6.5 per cent to 6.2 percent.



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