The RLLR will come to 8.25 percent with a reduction of 25 basis points.
State Bank of India (SBI) on Monday gave great relief to its crores of customers. SBI made its debt 0.25 percent cheaper. This deduction in borrowing rate is a relief news for both old and new customers. According to PTI news, SBI’s repo linked lending rate (RLLR) will come to 8.25 percent with a reduction of 25 basis points. The bank has also reduced the external benchmark based lending rate (EBLR) from 0.25 percent to 8.65 percent. The new revised rates will be applicable from April 15, 2025.
Changes in deposit rates also
State Bank of India has also cut the deposit rates by 10-25 basis points. The new rates will be effective from April 15. After the new change, for fixed deposits of up to Rs 3 crore, the interest rate on 1-2 years fixed deposits will be reduced from 10 basis points to 6.70 percent, and 6.90 percent interest will be given instead of 7 percent on deposits of maturity less than two years to 3 years.
In the case of fixed deposits of more than Rs 3 crore, fixed deposits with maturity from 180 days to 210 days have been reduced from 20 basis points to 6.40 percent, while 211 days have been reduced from 25 basis points to 6.50 percent for a period of less than 1 year. Similarly, for 1-2 years, the new interest rate will be 7 percent to 6. 80 percent, and for 2-3 years will be 7 percent to 6. 75 percent, ie a cut of 25 basis points.
Changes in interest on green rupee term deposit also
SBI Green Rupee Term Deposit is available for three special periods of 1111, 1777 and 2222 days, which is 10 bps less at the card rate. The specific duration plan of ‘444 days’ (Amrit Vrishti) at an interest rate of 7.05 percent is effective from April 15, 2025, and 7.55 percent to senior citizens and 7.65 percent to super senior citizens are offered interest rates. HDFC Bank has reduced the interest rate on savings accounts from 25 basis points to 2.75 percent. Another public sector Bank of India has withdrawn its 400-day special deposit scheme, in which 7. 3 percent interest was being paid.
This bank also reduced interest
Bank of India has announced a cut of 25 basis points in its home loan interest rates. The rate of home loan has come down to 7.9 percent per year on the basis of CIBIL score. The revised rates will be applicable from April 15, 2025. In addition to home loans, Bank of India has also reduced interest rates on selected existing retail loans, including auto loan, personal loan, loan, education loan and star reverse morgase loan.
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