DeMo bites savers - Calcutta Telegraph

Mumbai, July 31: The SBI has cut the savings bank deposit rate to its lowest level in six years for most savers because demonetisation has saddled it with an avalanche of cash and it is expecting a reduction in lending rates in two days. Savings ...

State Bank of India cuts interest rate on savings account by half per cent - All India Radio

The State Bank of India has slashed interest on savings account deposits by half a per cent to three and a half per cent on balance up to 1 crore rupees. The bank said, for saving deposits balance above 1 crore, the rate of interest has been retained ...

SBI cuts savings deposit rates to protect margins - Morung Express

MUMBAI/BENGALURU, July 31 (Reuters) – State Bank of India on Monday cut deposit rates on the majority of its savings accounts to a six-year low, just two days ahead of a policy meeting in which the central bank is expected to cut interest rates.