State Bank of Bikaner and Jaipur today slashed interest rates across select maturities by 0.25-1 per cent for fixed deposits.

For deposits maturing between 91 days and 179 days, the bank has slashed interest rates by 0.50 per cent to 7.50 per cent, while for deposits between 180 days and less than one year, the interest rate has been cut to 7.50 per cent from 8.50 per cent previously.

Deposits of one year and less than 3 years will now attract interest rate at 8.75 per cent from 9 per cent earlier. For maturities of three years to five years, the new rate of interest will stand at 8.50 per cent from 9 per cent earlier.

The state-owned bank had slashed interest rates for maturities of more than five years and up to 10 years to 8.50 per cent from 8.75 per cent earlier.

Shares of the bank were trading at Rs 408.05 apiece on the BSE, up 0.62 per cent from the previous close.

(This article was published on April 5, 2013)
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