SBI reduced interest rates for 1000 days deposit
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The country’s largest PSU lender, State Bank of India, on Saturday reduced interest rate for deposits having 1,000-day tenure by 0.25 per cent to 7 per cent. The new rate will be effective from September 8, the bank said in a release issued in Mumbai on Saturday. Interest rates for deposits for all other tenures remain the same.
Update : SBI discontinue 1000 days Fixed Deposit
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3 Comments on this post
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bhavin said:
SBI drops 1,000-day deposit scheme
State Bank of India, the country’s largest bank, today said that it is withdrawing its blockbuster 1,000-day deposit scheme that was largely instrumental in helping it mop up over Rs 1,000 crore a day at the height of the global financial crunch late last year.
http://www.business-standard.com/india/storypage.php?autono=369216
September 6th, 2009 at 9:02 pm -
krishnas said:
Hello bhavin,
Thank you for the useful information. I have updated this news in another post :
http://www.thinkplaninvest.com/2009/09/sbi-discontinue-1000-days-fixed-deposit/Last week they have announced that they would reduce the interest rates effective from September 8. Later they have planned to merge 1000 days FD with other products.
Thanks,
KrishnaSeptember 6th, 2009 at 10:07 pm
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[...] days back I have written about the revised rates for SBI’s 1000 days fixed deposit scheme. But, today SBI announced that they are planning to discontinue their 1000 days fixed deposit [...]