Business / SBI links repo rate to savings account, loans

Livemint : Mar 16, 2019, 12:25 PM
From 1 May, savings bank deposits with balances above ₹1 lakh will be linked to repo rate (6.25%) minus 2.75% with effective saving account rate of 3.50% per annum. In case of lending, all cash credit accounts & overdrafts with limits above Rs1 lakh will be linked to the repo rate plus spread of 2.25% to 8.50%, State Bank of India (SBI), country’s largest lender, has linked savings account deposit & short-term loans.