SBI cuts peak term deposit rate by 25 bpsBS Reporter / Mumbai December 12, 2007State Bank of India (SBI) has cut the peak term deposit rate by 25 basispoints (Bps) to 8.5 per cent for the second time in just over a month, andalso on short-term deposits of less than a year by an identical margin toimprove asset-liability management and reduce cost of funds. The new rates are effective from December 12.SBI would now offer 8.5 per cent on 550-day deposits against 8.75 per cent earlier. The peak deposit rate is down from 9.50 per cent about nine months ago.The interst for 15-45 days is 4.75 per cent against 5 per cent earlier, for46-270 days 5.25 per cent against 5.5 per cent earlier and for 271 days to less than a year 6.5 pc, down from 6.75 per cent.However, the country
