SBI cuts savings deposit rate by 5 basis points to 2.70 per cent; BoB raises FCNR deposit rates

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The new saving rates are applicable on balances of less than Rs 10 crore, on which the bank earlier offered 2.75 per cent per annum interest. The lowering of rates on savings accounts by SBI comes at a time when the peer lenders have been raising deposit rates to mobilise funds

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