SBI raises interest rates on bank FD and home loans

The largest public sector bank in India – State Bank of India – has decided to increase the interest rate payable on retail deposits, followed by an increase in MCLR (marginal cost of funds-based lending rate) – the rate charged on loans – by up to 20 basis points. As the largest lender revises its interest rates.

Now we can see almost all banks will increase the rates on deposits.  Though increase is not much, but you can get some extra income while investing in FDRs.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *