SBI has cut FD interest rates by 40 basis points across tenors! The previous generation has hailed fixed deposits so much that even we find it attractive. Whenever a person in India has got some extra money, the first option that comes to mind is getting an FD done. Reasons for this are also simple – no risk of losing money, a decent rate of return (till now it was slightly more than inflation) and an option to get your money back anytime (compromising the interest). But, the latest news from the State Bank of India has put all the FD lovers in dilemma. SBI has cut FD interest rates by 40 basis points across tenors! This is the second rate cut for the month. And, with this, the highest rate offered by SBI on FD now stands at just 5.4% (for fixed deposit that matures in 5 years and up to 10 years). And, the fixed deposit for 7 – 45 days will give only 2.9% return. Besides this, SBI has also slashed the interest rates on bulk deposits (comprising deposits of Rs. 2 crores and mo
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