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The Times of India

Business

PTI

SBI cuts savings deposit rate by 5 basis points to 2.7%; Bank of Baroda raises FCNR deposit rates

SBI Bank of Baroda New Delhi

NEW DELHI: State Bank of India (SBI) has reduced the interest rate on savings accounts by a marginal 5 basis points to 2.70 per cent effective from October 15.

The new saving rates are applicable on balances of less than Rs 10 crore, on which the bank earlier offered 2.75 per cent per annum interest.

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