New Delhi: The State Bank of India ( SBI ) has announced marginal reductions in key lending benchmarks and select term deposit rates, effective from December 15.

The bank reduced the rate on 2 to less than 3 years tenor to 6.40 per cent from 6.45 per cent. Senior citizens will receive a 50 bps premium over it, and their rate was cut to 6.90 per cent from 6.95 per cent. Other retail term deposit slabs were kept unchanged, a statement said.

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The changes affect domestic retail term deposits below Rs 3 crore, the Marginal Cost of Funds‑based Lending Rate (MCLR), the External Benchmark Linked Rate (EBLR) and the Base Rate.

The bank reduced the popular 444‑day “Amrit Vrishti” deposit rate to 6.45

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