SBI Lowers Short-Term Domestic Deposit Rate

State Bank of India (SBI), the country's largest lender, has cut interest rate on short-term retail domestic deposits by 15 basis points across tenors effective July 15.

- ABHIJIT LELE

The rate cut, the third such instance in FY26, comes in the backdrop of improved liquidity conditions and the policy rate cuts by the Reserve Bank of India (RBI). Retail liabilities are deposits below ₹3 crore. The short-term deposits have maturity of up to one year.