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SBI cuts savings a/c rate to 2.5%, lowest in industry
The New Indian Express Kannur
|June 17, 2025
THE country's largest lender State Bank has slashed the interest rate on savings bank deposits by a hefty 25-50 bps to 2.5% from the existing 2.7%, the lowest on record.
The rate reduction for the deposits is a disincentive for the small savers. The decision comes within days of the bank passing on the 50 bps repo rate cut by the central bank to borrowers effective June 15.
This story is from the June 17, 2025 edition of The New Indian Express Kannur.
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