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Dynamite News

National

DN Bureau

SBI reduces MCLR and interest rates on time deposits across all maturities

New Delhi: State Bank of India (SBI) on Monday reduced the MCLR and interest rates on time deposits across all maturities.

Also Read: SBI seeks bids for cash-strapped Jet Airways

The state-run lender, which is the country's largest bank, announced a reduction in the MCLR by 10 basis points (BPS), effective September 10.

SBI also cut retail term-deposit rates by 20-25 bps and cut bulk term-deposit rates by 10-20 bps, according to ET Now. (With ANI Inputs)

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