Change in Interest Rates of SBI Saving Bank Account

SBI bank which is the largest Public Sector Bank in India has announced 2 rates for diffferent types of SBI Account Holders which is very surprising.

Now accounts having more than 1 Crore in Balance can get 4% interest rate while accounts having less than 1 crore will get only 3.5% of interest per year.

This has been done by SBI to maintain MCLR (marginal cost of funds based lending rate).   Now small account holders will be getting less interest rates from now on.



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