Current Affairs - Banking - Discussion

State Bank of India has pared the interest rate on retail term-deposits of one-year maturity by 25 basis points, to 6.50 per cent. The highest interest rate that India's largest bank is offers on retail terms deposits (of below 1 crore) is now 6.50 per cent, compared to 6.75 per cent earlier. SBI now offers 6.50 per cent interest on retail term deposits in six maturity buckets (starting from 46 days to less than two years).