Read the Latest News On Business, Politics, Sports, Entertainment Much More From India And Around The World At The Trending News Time

Sunday, March 10, 2019

SBI links large savings a/cs, overdrafts to repo rate

With effect from May 1, savings bank deposits, with balances of above Rs 1 lakh, will earn a return equivalent to 2.75% below the prevailing repo rate. Since the current repo rate is 6.25%, the interest on these accounts will continue to be 3.5%. However, should the RBI again cut rates in its next policy in April 2019, the return will come down.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2J1GhQb
Share:

Related Posts:

0 comments:

Post a Comment

Recent Posts