SBI cuts deposit rates on slow credit, liquidity glut

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SBI cuts deposit rates on slow credit, liquidity glut

State Bank of India, SBI has snipped interest rates by 25-50 basis points on deposits up to five years duration.

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Home loan scheme extended

SBI has extended its special home loan scheme under its 'My Home' cCampaign' till March 31, 2009. The bank said the scheme, which was launched on August 8 for a three-month limited period, has been extended in view of good response.

Axis Bank has also introduced a limited special home loan scheme offering a fixed interest rate of 8% in the first year and a floating interest rate from the second year onwards. The offer is open till December 10.

Bank of Rajasthan also slashed its home loan rates to 7.5% in the first year for a loan of less than Rs 30 lakh.