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

The bank has reduced the rate on deposits with a tenor of 2 to less than 3 years to 6.40 per cent from 6.45 per cent. Senior citizens will receive a 50 basis points premium over this, with their rate cut to 6.90 per cent from 6.95 per cent. Other retail term deposit slabs remain unchanged, a statement said.

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

Additionally, SBI has reduced the popular 444‑day “Amrit Vrishti” deposit rate to 6.45 per cent from 6.60 per cent.

How has SBI adj

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