SBI reduces retail term deposit rates by 20-50 bps across tenures

SBI has reduced term deposit rates in view of the adequate liquidity in the system and the additional liquidity measures announced in Friday’s Reserve Bank of India’s monetary policy.

On Friday, the country’s largest lender also slashed rates on loans, priced to an external benchmark, by 75 basis points, after the central bank’s repo rate cut of the same quantum.

SBI’s retail term deposit rates for various tenures are as follows: TENURES7 days to 45 days 46 days to 179 days180 days to 210 days 211 days to less than 1 year 1 year to less than 2 year 2 years to less than 3 years 3 years to less than 5 years 5 years and up to 10 years