SBI New Rules From April
Check SBI New Rules From April 2019 from here!! You must know about the 3 Big Changes that has been made by State Bank of India for Customers Min Balance. From now, there will be limit in the interest rates for Retail Domestic Term Deposit. To check Revised Interest Revised Rate and other changes, you need to check this page.
SBI New Rules From April 2019
3 Big Changes in SBI Rules
- Marginal Cost Of Funds Based Lending Rate (MCLR) With Effect From – 10.12.2018
- Benchmark Prime Lending Rate (BPLR) increased from 13.75% p.a. to 13.80% p.a.
- Base Rate increased from 9.00% p.a. to 9.05% p.a.
Latest SBI Rules Highlights
- New home, auto loan rules
- SBI cease to be EPFO fund manager from March-end: Labour minister
- SBI blames adverse policies for missing private capital in infrastructure
- SBI extends deadline for free 5 litre petrol scheme
- SBI gives 42 million subscribers a shock, expensive home and car loan, will increase your EMI
- Increase in base rate and BPLR along with MCLR
- Bad News for the customers of State Bank of India, limit of Withdrawal of Cash for ATM’s
Check Here, Details On: Upcoming Bank Exams
Revision in Interest Rates On Retail Domestic Term Deposits (Below Rupees One Crore)
Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees One Crore ‘have been revised. The revised interest rates are as under:
(All figures in % per annum)
|Tenors||Existing for Public w.e.f. 30.07.2018||Revised For Public w.e.f. 28.11.2018|
|7 days to 45 days||5.75||5.75|
|46 days to 179 days||6.25||6.25|
|180 days to 210 days||6.35||6.35|
|211 days to less than 1 year||6.40||6.40|
|1 year to less than 2 year||6.70||6.80|
|2 years to less than 3 years||6.75||6.80|
|3 years to less than 5 years||6.80||6.80|
|5 years and up to 10 years||6.85||6.85|
Check Out Here: Eligibility for Bank
- The interest rate payable to SBI Staff and SBI pensioners will be 1.00% above the applicable rate.
- The rate applicable to all Senior Citizens and SBI Pensioners of age 60 years and above will be 0.50% above the rate payable for all tenors to resident Indian senior citizens i.e. SBI resident Indian Senior Citizen Pensioners will get both the benefits of Staff (1%) and resident Indian Senior Citizens (0.50%).
|7 days to 45 days||6.25||6.25|
|46 days to 179 days||6.75||6.75|
|180 days to 210 days||6.85||6.85|
|211 days to less than 1 year||6.90||6.90|
|1 year to less than 2 year||7.20||7.30|
|2 years to less than 3 years||7.25||7.30|
|3 years to less than 5 years||7.30||7.30|
|5 years and up to 10 years||7.35||7.35|
Know More About: Career in Banking Sector
Marginal Cost Of Funds Based Lending Rate (MCLR) With Effect From – 10.12.2018
Tenor-wise MCLR effective from 10th December, 2018 will be as under:
|Tenor||Existing MCLR (In %)||Revised MCLR (In %)|
SBI RD Interest Rates
Last Updated 11th Dec 2018 SBI Interest Rate on RD, 2018
|Tenure||General Rates||Senior Citizen Rates|
|5 years to 10 years||6.85%||7.35%|
|1 year to 1 year 364 days||6.80%||7.30%|
|2 years to 2 years 364 days||6.80%||7.30%|
|3 years to 4 years 364 days||6.80%||7.30%|
SBI Recurring Deposit
- SBI offers RD interest rates up to 6.85%
- Interest on RD with SBI is compounded quarterly.
- SBI accepts minimum deposits starting at 1000.
- For senior citizens SBI offers RD rate upto 7.35%.
SBI Recurring Deposit Interest Rates – Special Features
- Nomination facility is available
- loan facility is available up to 90% of your RD amount
- The deposit tenure ranges from 6 month to 120 month
- Visit any SBI branch to avail this service
- TDS deductions are subject to the existing income tax rules as at the time of opening the RD account
Check Out Latest: SBI Recruitment 2019
New Home, Auto Loan Rules – Details
The move to external benchmarking of floating interest rates was suggested by a committee set up by the RBI to review the working of the current MCLR or marginal cost of funds-based lending rate based loan pricing system.
from April 1, banks have to benchmark retail floating rate loans such as auto and home loans to any one of these four external benchmarks: RBI’s repo rate, 91/182 Treasury Bill yield or any other benchmark market interest rate produced by Financial Benchmarks India Pvt Ltd (FBIL).
For the borrower, the new system will bring in more transparency, RBI deputy governor NS Vishwanathan said.
Commenting on the new pricing system PK Gupta, managing director of SBI, said: “Most of the retail portfolios like personal loans and auto loans are fixed rate loans, and, therefore, there will be no change.
The new system of pricing of loans will apply to new floating rate retail loans (such as housing and auto loans) and floating rate loans to micro and small enterprises extended by banks from April 1, 2019.
Visit Here: Get Free Job Alerts On Your Mobile, Email
SBI’s 24X7 Helpline
State Bank of India provides information on the various Interest rates offered by it on various loans and deposit schemes. To be updated with latest updates or submitting your issues as well. You may take help of given helpline numbers.
- “Please call SBI’s 24X7 helpline through
- Toll free 1800 11 2211, 1800 425 3800 or
- Toll number 080-26599990
- These are accessible from all landlines and mobile phones in the country”
In order to be updates with SBI New Rules From April 2019 you are suggested to follow us on Facebook and Google Plus.
Something That You Should Put An Eye On
|How to Get Bank Jobs||SBI Challan Form|
|SBI Placement Papers||SBI Exam Pattern|
|SBI Admit Card||SBI Answer Key|
|SBI Result||SBI Notification|