Tag Archives: sbi bond interest

State Bank of India reduces interest on bonds by 25-30 basis points – This is old News

Sorry this post was there in my database and got by mistake updated now – sorry about the confusion – originally they had the proposed interest rate and they changed it when the bond opened itself .State Bank of India informed the market that it has cut the interest rate on its proposed public issue of subordinated bonds aggregating up to Rs 10,000 crore by 25-30 basis points for retail investors.On bonds of 10 years duration (with a call option after five years) and 15 years duration (with a call option after 10 years), the bank will offer 9.75 per cent (10 per cent earlier) and 9.95 per cent (10.25 per cent) interest respectively.In the case of non-retail investors, the bank has left the interest rates unchanged, ie, at 9.3 per cent for 10 years and 9.45 per cent for 15 years.