SBI cuts rates on loans & also special FD scheme

State Bank of India has decreased interest rates on its 444-day special fixed deposit plan by 20 basis points, setting the rate at 7.05%. This decision follows the central bank’s reduction of policy rates. Simultaneously, SBI has lowered interest rates on loans linked to external benchmarks by 25 basis points, effective April 15, reflecting improved liquidity in the banking system.

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