SBI Launches High Deposit Scheme sbischeme deposit
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Indian Economic Updates : SBI Launches Record-High Deposit Scheme • The banking sector's deposit competition has intensified despite July's liquidity easing, spurred by increased government expenditure reducing borrowing costs. State Bank of India launched a new 444-day deposit scheme offering 7.25% interest, its highest ever and 15 basis points above the current highest rate. Aimed at boosting retail deposits, the scheme is available from July 15, 2024, to March 31, 2025, for both local and non-resident customers with deposits under 3 crore. • #sbischeme #deposit #indianeconomicnews
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