SBI cuts interest rate on S/B Accounts
HIGHLIGHTS
SBI 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 change marks the introduction of a new two-tier savings account interest rate system
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.
SBI saving of nearly 4000 crore-4500 crore post saving rate cut....this is nearly 15-20% of FY18e PBT...let's see what other banks do now
Biggest boost to PSU banking sector with the rate cut as others will follow suit. And may be FD rate cuts too.
Right time for Seniors to go for 7.5 lakh deposit scheme. more
SBI 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 change marks the introduction of a new two-tier savings account interest rate system
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.
SBI saving of nearly 4000 crore-4500 crore post saving rate cut....this is nearly 15-20% of FY18e PBT...let's see what other banks do now
Biggest boost to PSU banking sector with the rate cut as others will follow suit. And may be FD rate cuts too.
Right time for Seniors to go for 7.5 lakh deposit scheme. more
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SBI did not think what will happen if everybody withdraw the sum keeping minimum balance....what will happen ! more
Aug 02
SB a/c interest rate slashed and Sr.ctzn deposits interest increased to 10%. This will be purposeful and useful, as many of us will not have more than max 50K in SB a/c. more
Aug 02
It is high time PM should step in to stop this unholy attitude of SBI to cut interest rate on S/B accounts where majority of customers are middle class.lower middle class and poor people who cannot habe S/B accounts amount Rs.1 Crore and more.This going against the publicised view of the Centre in opening more Bank Accounts by Common Man.This action defeats the purpose. more
Aug 01
Atleast for Senior Citizen's account they should maintain 4% interest in S B Account.Also on F D 'S of Senior Citizens they should give 1% more then the normal Interest till Govt comes out with Social Security scheme. more
Aug 01
Coming to the interest rates the banks are cutting people's stomach as many retired and unemployed class are depending on deposit interests to run their houses and for survival. We are copying the western world wherein they do have any concept of savings as their respective governments are supporting them financially in case of dire and disastrous situations. We are a heavily populated country and need to slowly and gradually change instead of abrupt and sudden decisions only to please our western counterparts for investing here and out our citizens in a messy situation struggling for basic needs of life. Our population is the biggest problem and hinderence in any progress and the concentration of which is mainly in 140 districts whereas the growth rate In other districts have come down and continue to do so the credit of which goes to women education. more
Aug 01
