SBI lowers fixed deposit and savings rates after RBI's repo rate cut; investors may need to rethink strategies as returns dip across tenures
Interest rate of savings plans for senior citizens kept at 8.2% per annum, as it has been since April 2024
Savings and investment rates in the financial year (FY) 2021-22 were 30.2 per cent and 29.6 per cent, respectively
Balances of Rs 10 cr and above to earn 3% rate of interest Oct 15 onwards; 2.7% rate unchanged on deposits below Rs 10 cr
There is no need or incentive for political intervention.