State Bank of Bikaner and Jaipur lowers fixed deposit rates

State Bank of Bikaner and Jaipur (SBBJ) has lowered fixed deposit interest rates by 15 to 100 basis points effective July 18, 2007. Fixed deposits of one year term will now get interest rate of 8.75% compared to 9.75% earlier. However, interest rates have been increased by 15 bps for term deposits of tenure 2-3 years to 8.75% from the earlier 8.6%.