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
Read MoreSBI’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
Read MoreSpecial and premium deposits offer fixed rates; regular deposits offer fixed & variable rates; do note that HDFC deposits are not insured
Read MoreFrom 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
Read MoreThe 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
Read MoreSBI 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
Read MoreRBI makes it mandatory for banks to link all their fresh retail loans to an external benchmark, effective October 1
Read MoreNew 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
Read MoreBank 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
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