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SBI cuts 1,000-days deposit rate by 0.25 pct

SBI reduced interest rate for deposits having 1,000-day tenure by 0.25 per cent to 7 per cent.

The country’s largest PSU lende,State Bank of India,on Saturday reduced interest rate for deposits having 1,000-day tenure by 0.25 per cent to 7 per cent.

The new rate will be effective from September 8,the bank said in a release issued here on Saturday.

Interest rates for deposits for all other tenures remain the same.

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