SBI reduces  Interest Rates  on  Savings Account

India's Leading Bank SBI has slashed Interest Rates on Savings Account by 5 bps  to 2.70%

This Interest Rate is applicable to Savings Account Balance below Rs 10 Crore

However, SBI has increased Interest Rates by 25 bps on Savings Account balance of Rs 10 Crore and above

This new interest Rates will be effective from 15 October, 2022

SBI has also hiked its interest rates on Fixed Deposits below Rs 2 Crore by 10 bps to 20 bps

SBI has cut its interest rates on SB account 2.75% to 2.70% for account balance of less than Rs 10 Crore

And for balances above Rs 10 Crores, the Rate  of Interest is increased from 2.75% to 3.00%

SBI has largest network of 22K branches & 65K ATM's across India

The number of Customers using Internet Banking is 104 million