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Breaking News Bad News: SBI cuts interest rates for Saving accounts by 0.5% (1 Viewer)

Ritesh

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SBI (State Bank of India) has cut interest rate on savings bank accounts to 3.5 per cent from 4 per cent on balance of Rs 1 crore and below, the country's largest public sector lender informed the stock exchanges on Monday in a regulatory filing. About 90 per cent of SBI's savings bank accounts have balances under Rs 1 crore.

Source: SBI cuts interest rate on savings account deposits - Times of India
 
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Mohit Mangal

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bad news for small depositors...although one can take fd route for higher deposits.
 

Kiran Reddy

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Bad move :(

I still do not understand what good did happen to common people with demonetization :(
 

Optimus_Prime

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Time to leave this earth...
90% Indian have less than 1 Cr. In their savings account.
SBI..REALLY U GO TO HELL NOW.

 

PRK

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This is a good considering economics. All will do it soon. People are earning a real interest rate now. Banks are in pressure, will ease a bit. Loans will get cheaper, let RBI reduce rate.
 

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