State Bank of India FD Rates Cut For Certain Tenures

The State Bank of India (SBI) has lowered interest rates offered on the bank's fixed deposits of certain tenures exactly a month after its previous reservation. Rates offered were mainly cut for short-term tenures offered by the public sector lender.

Interest rates were reduced by 0.10 to 0.50 percent and the new rates will be effective from 10 March 2020.

Tenure	Previous rates (%)	Rates with effect from 10 Mar 2020 (%)
7 days to 45 days	4.50	4.00
46 days to 179 days	5.00	5.00
180 days to less than 1 year	5.50	5.50
1 to 10 years	6.00	5.90

SBI Senior citizen FD rates

Tenure	Previous rates (%)	Rates with effect from 10 Mar 2020 (%)
7 days to 45 days	5.00	4.50
46 days to 179 days	5.50	5.50
180 days to less than 1 year	6.00	6.00
1 to 10 years	6.50	6.40

SBI also lowered its MCLR (Marginal Cost of Funds Based Lending Rates) with effect from 10 March.