SBBJ cuts FD rates by up to 1% in select maturities

SBBJ cuts FD rates by up to 1% in select maturities New Delhi: State Bank of Bikaner and Jaipur on Friday slashed interest rates across select maturities by 0.25-1 percent for fixed deposits.

For deposits maturing between 91 days to 179 days, the bank has slashed interest rates by 0.50 percent to 7.50 percent, while for deposits between 180 days and less than one year, the interest rate has been cut to 7.50 percent from 8.50 percent previously.

Deposits of one year and less than 3 years will now attract interest rate at 8.75 percent from 9 percent earlier. For maturities of three years to five years, the new rate of interest will stand at 8.50 percent from 9 percent earlier.

The state-owned bank has slashed interest rates for maturities of more than five years and up to 10 years to 8.50 percent from 8.75 percent earlier.

Shares of the bank were trading at Rs 408.05 apiece on the BSE, up 0.62 percent from the previous close.

PTI