In the Recent Financial Sector News-:
SBI bank made loans cheaper for customers. On the other hand, the Interest Rates on Deposit also reduced by the SBI bank.
The bank has cut interest rates on loans by 0.15 percent. The mean interest rate has come down from 7.40 percent to 7.25 percent. Along with this, the bank has also reduced the interest rate on customers deposits by 0.20 percent. Monthly installment will come down by Rs 255 as interest rates on loans fall.
The interest loan waiver will be effective from May 10 and the deposit loan waiver will be effective from May 12. In the Recent Financial Updates, RBI had reduced the Repo Rate by 0.75 percent in March. The reason behind this is to stabilize the Indian Economy. From March till now, the rates of FD have been cut three times. Earlier in April, SBI had reduced the interest rates on FD by 0.35 percent.
According to the new rates, over three years, the rate has reduced by 0.20 percent. At present, interest being paid by SBI is at the rate of 3.5% on 7 to 45 days FD. 4.5% interest on 46 to 179 days FD and 5% on 180 to one years FD
Also Read
https://businessdip.blogspot.com/2020/05/maruti-suzuki-easy-installments-scheme.html
No comments:
Write comments