State Bank of Bikaner and Jaipur, an associate bank of SBI, on Tuesday announced a reduction of 50 basis points each in its prime lending rates and deposit rates effective from January 1 next year.
The bank has reduced its benchmark prime lending rates by 50 basis points to 12.75, SBBJ informed the Bombay Stock Exchange today.
The bank has slashed deposit rates by 50 basis points. New interest rates will be applicable from the beginning of the next month, it added.
Interest rate on term deposits for a period of one to two years has been revised downward to 9 per cent from 10.25 per cent, while the rate on deposits for 3 to 5 years has been revised downward to 8.5 per cent from 9 per cent.
However, senior citizens for deposits of more than one year will get an interest which will be 0.5 per cent higher than the general rates, the bank informed.
Filed under: Home loan, Home loan India, Home loan rates | Tagged: deposit rate, interest rate, lending rate, SBI
