Bad news for SBI bank savings account holders
This information is especially for you if you have a savings account with the State Bank of India (SBI). The bank announced the cut in interest rates on the savings account earlier in the nationwide lockdown due to the Corona virus. This ad goes into effect on Wednesday, April 15th. With this announcement, the account holders will now get 0.25 per cent less interest. However, the bank has given great relief to its ATM card holders.
Advertise on the bank’s website
The bank announced on its website that from now onwards the account holders will get 2.75% interest in their savings account. The bank said in a statement that it has decided to cut interest rates by 0.25% on savings deposit.
Decrease in home loan rate
SBI announces 0.35% cut in MCLR This will reduce the EMI of the homeowner.
The bank said it would reduce the monthly loan of Rs 30 for a 30-year home loan by Rs 24.
Interest rate change on SBI savings account from April 15
On March 11, SBI reduced its Savings Bank interest rate to 3 percent for all customers. At first it was 3.25 per cent up to one lakh and 3 per cent over one lakh which is now 2.75 per cent on all.
Great relief for ATM card holders
However, the bank has given great relief to its ATM card holders, saying that the bank is canceling the service charge by June 30 even after 5 free transactions at the ATM.
