Interest on loans and deposits Kamal State Bank, increased the anxiety of depositors

Although it gave some relief to the borrowers, it also increased the anxiety of the depositors.  State Bank cut interest rates on both loans and deposits.

 Lockdown is going on across the country to stop Corona.  And as a result, economic activity has come to a standstill.  Many people are struggling to make ends meet.  In this situation, the country's largest bank again reduced the interest rate on term deposits.  As a result, the problem of interest dependent people has increased.

 From now on, the interest rate for general customers will be reduced from 5.50 per cent to 5.60 per cent for 2 to 3 years.  On the other hand, interest rates for less than 3 years to 5 years have been kept unchanged.

 Meanwhile, the bank authorities have argued that special deposit scheme with extra interest has been introduced keeping in mind the needs of senior citizens.  There will be a little more interest, the name of the project is 'SBI We Care Deposit'.  In this case you have to register by 30th September to get 30 basis points extra interest.  Money can be kept for five years or more and cannot be withdrawn before maturity.  Senior citizens get 50 basis points more interest on fixed deposits than usual. In that case, if they keep money for a period of five years or more, the senior citizens will get a total of 60 basis points extra happiness.

 Meanwhile, based on the cost of raising loan funds, interest or MCLR is going down by 15 basis points from May 10.  This rate is being reduced from 6.40 percent to 6.25 percent.  The benefits of which can be found in the case of giving EMI of car home loan.  Last month, State Bank MCLR was reduced by 35 basis points.  These two phases reduced the total by 50 basis points, which would reduce the debt burden of the borrowers.  Those who have taken a home loan of Rs 25 lakh for a period of 30 years on the basis of MCLR will have their monthly installment reduced by Rs 225.


Popular posts from this blog

Oppo A91 specification leaked

what is Computer? and How to work's Computer?

Realme X50 5G