SBI has linked its Cash Credit /Over Draft rates above Rs one lakh to the repo rate for better transmission of RBI’s policy rates. The benefit of reduction in repo rate by 25 bps by RBI (from April 04 2019) will get passed on in its entirety to CC/OD customers banking with SBI from May 01 2019, it added.
SBI has linked its Savings Bank rates to the repo rate. Thus the saving bank rates shall also stand revised from May 01 2019. For balances up to Rs one lakh rate will be 3.50 per cent p.a., comprising almost 95% of SB account holders.