The country's largest lender, State Bank of India, on Saturday said it has reduced deposit rates across all maturities by 0.25 percent, with effect from June 15.

For a tenure of 181 days to less than one year, the rate has been reduced from 6.50 percent to 6.25 percent while for one-year to less than 2-years, it has been cut from 7.25 percent to 7 percent, the bank said in a statement.

For two-years to less than 1,000 days, the new rate is 7.25 percent against 7.50 percent while for a 1,000-day tenure, the rate has been reduced from 7.75 percent to 7.50 percent. For 1,001 days to less than 3 years, the new rate is 7.25 percent from the earlier 7.50 percent.

Three years to less than 5-years, the rate has been reduced to 7.25 percent from 7.50 percent, for five years to less than 8 years, the rate has been reduced from 8 percent to 7.75 percent, the statement said.

For a tenure of 8 years and up to 10 years, the new rate is eight percent against 8.25 percent, it added.

An additional 0.50 percent for deposits of resident Indian senior citizens for tenures of one year and above would continue for term deposits of amount below Rs 1 crore, it said.