SBI REDUCED INTERSET RATE TO 3.5% FROM 4% ON SAVINGS ACCOUNT

• SBI is the India's largest public sector bank owned by Indian goverment .

• Today state bank of india ( SBI ) has released new announcement on interest rates .

  

• SBI slashes interest rates on savings account on their bank account holders .

• For less than Rs.1 crore intrest rates are reduced from 4% to 3.5% .

• But sadly 95% of SBI account holders are having less than Rs.1 crore . Most of them are middle class people . 

  

• Only 5% of the account holders are having more than Rs. 1 crore will continue to get 4 % interest rate .

• Soon other banks will follow this interest rate cut . Rate cut  going to affect ordinary people depend on monthly income .