Interest Rates Archives

March 11, 2020

SBI slashes interest on savings account to 3%; waives average monthly balance in accounts

Move should be seen in the context of excessive liquidity with banks; minimum balance waiver could spur savers to spend money in a boost for consumption

February 9, 2020

SBI cuts fixed deposit rates; interest to fall 0.10-0.50% from February 10

SBI’s new interest rates on retail domestic term deposits will fetch you Rs 1,758 to Rs 17,958 less on Rs 10 lakh FD

December 16, 2019

HDFC Ltd fixed deposits: Offering ‘secure’ fixed income of up to 7.61% interest per annum

Special and premium deposits offer fixed rates; regular deposits offer fixed & variable rates; do note that HDFC deposits are not insured

October 20, 2019

After SBI, Kotak Mahindra Bank cuts interest on daily balances in savings account

From October 18, interest on balance over Rs 10 lakh and up to Rs 50 lakh stands revised at 5.5% per annum from 6% previously

October 5, 2019

RBI cuts lending rate by 0.25%: Here is the impact on your loans, deposits, stocks and bond investments

The cumulative transmission of the 1.10% rate cuts prior to the latest action has been only around 0.29% transmission on fresh bank loan rates, but things are expected to change fast

September 9, 2019

SBI cuts FD rates for 3rd time in 2 months; fixed deposits to fetch 0.20-0.25% less from September 10

SBI has also reduced its MCLR (Marginal Cost of Funds based Lending Rate) by 10 basis points which will come into effect from September 10. That will reduce cost of loans

September 5, 2019

Will linking floating rate loans to external benchmark really cut interest rates for your home loan, car loan?

RBI makes it mandatory for banks to link all their fresh retail loans to an external benchmark, effective October 1

August 24, 2019

FD rates on a downward spiral with SBI cutting rates by 50 bps more; others may follow suit

New lower rates effective from August 26, 2019; applicable to fresh deposits and renewals of maturing deposits The 50 bps cut means interest income will drop by up to Rs 46,300 for Rs 10 lakh FD

August 19, 2019

‘As a bank, we have to strike a balance between what we pay to our depositors and what we charge on loans’, SBI chairman Rajnish Kumar

Bank says it has cut repo rate linked lending rate by 85 bps; MCLR has been reduced by 30 bps but more MCLR lowering will mean an impact on depositors

Interest Rates Articles