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Bank of India, Central Bank of India and Dena Bank have cut their savings bank deposit rates. BoI and Central Bank are now offering 3.50 per cent on SB deposits of up to ₹50 lakh against 4 per cent earlier. On deposits over ₹50 lakh, the rate is unchanged at 4 per cent.
Dena Bank has cut the rate for balance up to ₹25 lakh to 3.50 per cent (4 per cent). For deposits above ₹25 lakh, the rate is unchanged at 4 per cent.
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